Lucio Tan-led MacroAsia Corp. (MAC), through its majority-owned subsidiary MacroAsia Airport Services Corp. (MASCORP), has earmarked P400 million to build a new six-story headquarters for its aviation services operations.

In a stock exchange report on Friday, the company said the project, funded through a Security Bank financing facility, has started construction and is scheduled for completion by March 2027.

Strengthen support for MASCORP’s operations

Once operational, the headquarters will strengthen support for MASCORP’s operations at Ninoy Aquino International Airport and provide office space for third-party leasing, offering potential long-term revenue opportunities.

The facility will be built on a MASCORP-owned property along Sunrise Street, Barangay Tambo, Parañaque City.

Spanning over 8,600 square meters, the headquarters is set to consolidate the administrative, operational, and executive offices of MAC’s aviation services units.

Shared services center

It will also house MacroAsia Group’s shared services center, creating a centralized hub for groupwide support functions.

In the first nine months of last year, MAC saw net income rise 14 percent to P1.16 billion, fueled by a rebound in air travel and strong demand across its catering and water services.

Consolidated revenues grew 6 percent to P7.41 billion, or 10 percent on a normalized basis, with aviation-related operations making up about 78 percent of total income.

Costs rose 22 percent to P2.11 billion due to higher activity, material costs, and wage adjustments, but MacroAsia maintained a 19 percent gross margin.

Total assets expanded 21 percent to P16.18 billion, and equity increased 14 percent to P8.59 billion, with the company noting that inflation, forex swings, and weather challenges remain manageable.