Megaworld reinvests P3.4B to expand regional townships

Property giant Megaworld Corp. is channeling around P3.4 billion in proceeds from recent Megaworld Real Estate Investment Trust (MREIT) share sales to expand its mixed-use developments in Bacolod, Cebu, and Palawan, underscoring its push to grow regional business hubs and boost tourism-driven investments.

Following block sales of MREIT shares in July and September 2025, Megaworld said the funds will be used to build new income-generating assets such as office towers, lifestyle malls, and hotels across its provincial townships — The Upper East in Bacolod, The Mactan Newtown in Lapu-Lapu City, and Paragua Coastown in San Vicente, Palawan.

“These three provincial townships, while different in scale and themes, have huge potential for tourism, which will drive business into these localities,” said Lourdes Gutierrez-Alfonso, Megaworld President and CEO. “We hope to be able to expand our offerings that can generate more jobs and help boost tourism in these exciting destinations.”

Megaworld’s The Upper East in Bacolod, a 34-hectare modern business and lifestyle district located near the city government center, has already completed three residential towers and one office building, with more projects underway — including a new lifestyle mall set to rise next year.

In Cebu, the 30-hectare Mactan Newtown continues to expand its footprint as a mixed-use and tourism hub, featuring residential projects, five office towers, and two hotels. The township will soon welcome two major attractions — the Mactan Expo, a standalone convention center, and the Mactan World Museum, a cultural landmark celebrating the island’s historic role in the 1521 encounter with Spain.

Meanwhile, the 462-hectare Paragua Coastown in Palawan is taking shape as an eco-tourism community along the country’s longest coastline. The ongoing developments include hotels, residential condominiums, commercial districts, and nature parks designed to attract both tourists and investors.

MREIT Chairman Kevin L. Tan said the upcoming developments will bolster the REIT’s asset pipeline and strengthen long-term returns.“We look forward to the new income-generating assets that will be part of the potential future assets of MREIT, particularly the new malls and offices that will be built,” Tan said. “These projects will not only sustain MREIT's expansion pipeline but also enhance its long-term earnings visibility and shareholder value.”

MREIT currently holds 24 prime office properties located in five major Megaworld townships — Eastwood City in Quezon City, McKinley Hill and McKinley West in Taguig, Iloilo Business Park in Iloilo City, and Davao Park District in Davao City — with a combined gross leasable area approaching the company’s one-million-square-meter target.