Megaworld makes P1.5-B MICE play

Megaworld, a listed property developer led by tycoon Andrew L. Tan, is investing P1.5 billion to enter the meetings, incentives, conferences, and exhibitions (MICE) business, starting with its first stand-alone convention center in Cebu. 

The company said in Wednesday's disclosure that the facility, Mactan Expo, will be situated within its 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu. 

It will serve as one of the venues for the upcoming ASEAN Summit hosted by the Philippines, beginning with the ASEAN Travel Exchange under the ASEAN Tourism Forum 2026 from 28 to 30 January.

“One of Megaworld’s opening salvos in nation-building was the expansion of our hotels, and now we are entering the MICE business with the main goal of providing essential developments and world-class convention facilities,” Megaworld president and CEO Lourdes T. Gutierrez-Alfonso said.

“After Cebu, we will explore other key growth areas to expand this business as we aim to attract more international conventions and events, just like the ASEAN Summit, which will become a landmark hosting for Megaworld’s first-ever convention center,” she added.

Mactan Expo will includes a pillarless main hall, works by Cebuano artists, a VIP lounge, Muslim-friendly prayer rooms, and conference spaces named after Cebu’s beaches. 

To build the business, Megaworld has tapped Louella Caridad to lead its MICE platform, overseeing the development, management, and operations of its convention and exhibition facilities nationwide.

The group will likewise work closely with Megaworld Hotels & Resorts to offer integrated events combining venues, accommodations, and food and beverage services.

In the next five to ten years, Megaworld plans to expand its MICE business to other townships as part of its move to diversify beyond residential, office, and retail developments.

Megaworld has 14 operational hotel properties and about 6,500 room keys nationwide.