Megaworld Corp. is investing P30 billion over the next five years to expand and upgrade its office portfolio, targeting 2 million square meters (sqm) of leasable office space by 2030 from the current 1.6 million sqm.
The Andrew Tan-led developer said on Monday it will build new office towers and revamp existing properties in its townships in Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, Metro Manila, and other growth areas. All upcoming developments will be LEED-registered and feature sustainability features.
“We are optimistic about the office sector in the Philippines, particularly as more international companies continue to come in, either to establish their presence or expand their operations here.
We see a significant spike in demand for office spaces, not just among BPO companies, but even from traditional tenants,” said Kevin L. Tan, president and CEO of Alliance Global Group, Megaworld’s parent firm.
Megaworld has already opened new office towers in Iloilo Business Park, The Upper East Bacolod, and Capital Town Pampanga this year, adding 60,000 sqm of gross leasable area. Another 50,000 sqm of office space is set to open within the year in Bacolod, Iloilo, and Cebu.
“The new office towers will highlight our continuing thrust towards embracing sustainability.
We have been putting greater emphasis on this aspect of our business. This is part of our commitment to become more mindful about how we can help protect and preserve the environment together with our tenant partners,” Megaworld president Lourdes Gutierrez-Alfonso said.
Megaworld remains the largest office space provider in Bonifacio Global City, with nearly 900,000 sqm of inventory in the district.