Megaworld jacks up spending to P65B to fuel expansion

Listed property developer Megaworld Corp. is doubling down on its growth, ramping up capital spending to P65 billion this year to aggressively expand its township developments beyond Metro Manila.

The company said Wednesday that the planned surge in spending—earmarked for land acquisition, strategic land banking, and high-value project development—supports its push to stake its claim in provincial markets.

Megaworld will kick off land development for new townships, including Ilocandia Coastown in Ilocos Norte, The Upper Central in Cagayan de Oro City, and Nascala Coast in Nasugbu, Batangas, while expanding residential, office, and retail offerings in Bacolod, Iloilo, Pampanga, Cavite, and Palawan.

“We are seeing opportunities ahead, and we look forward to the sustained growth in the office, commercial, hospitality, and tourism sectors. We are continuing our expansion program with renewed optimism as we innovate our township offerings,” Megaworld president and CEO Lourdes Gutierrez-Alfonso said.

“Our residential business remains a strong growth engine, especially as we introduce more pioneering projects that integrate new technologies such as the use of artificial intelligence into our new developments,” she added, 

On the residential front, Megaworld is rolling out 19 projects this year worth P65 billion, spanning key growth hubs from Pasig, Taguig, and Manila to Ilocos, Cavite, Batangas, Laguna, Palawan, Iloilo, Cebu, and Cagayan de Oro.

The company is also fast-tracking its hospitality expansion, with five hotels under construction—ArcoVia Hotel in Pasig; Savoy Hotel Capital Town in San Fernando, Pampanga; Savoy Hotel Palawan and Paragua Sands in San Vicente, Palawan; and The Kingsford in Bacolod—adding nearly 2,000 rooms to its portfolio and pushing toward a target of more than 9,000 room keys within three years.

Just last week, Megaworld unveiled its 37th township, the 97-hectare Sugartown in Talisay City, Negros Occidental, cementing its provincial expansion as a central growth strategy.