Property developer Megaworld Corp., through its retail and commercial arm Megaworld Lifestyle Malls, is adding more than 30,000 square meters of retail space this year to meet the demand for premium commercial areas.
The company said in a stock exchange disclosure on Wednesday that new projects include malls and commercial developments at McKinley West in Taguig, Makati, Alabang West in Las Piñas City, and Boracay Newcoast in Aklan.
The expansions, it said, will keep the company on track to hit one million square meters of gross leasable area by 2030.
“We are growing our leasing business by bringing our signature lifestyle mall concept to more locations while introducing new experiences that resonate with today’s consumers,” said Graham Coates, head of Megaworld Lifestyle Malls.
“This approach allows us to drive sustained growth for Megaworld and, at the same time, enhance the value of our townships nationwide.”
Among the upcoming projects is The Shoppes at Park McKinley West, a two-story retail hub featuring international retailers, first-in-the-Philippines concepts, and local dining brands such as Ogawa Traditional Japanese Restaurant, Tartufo, Royal Indian Curry House, One World Deli, George & Onnie’s, Café 17, Nightshade Cocktails & Bar, Hanamaruken, and Yakinuku Sudaku.
A lifestyle mall will also open at Vion Tower along EDSA corner Chino Roces Avenue in Makati, while more retail spaces will be launched at Alabang West.
At Boracay Newcoast, the Newcoast Beachwalk will feature dining, retail, and services for tourists.
Megaworld Lifestyle Malls reported P3.33 billion in leasing revenues in the first half, up 10 percent yearly, supported by higher consumer traffic and strong tenant demand.
Earlier this year, the company also expanded its Lucky Chinatown retail space in Binondo, Manila to 36,000 square meters with the opening of the Imperial Wing.