Francisco Roxas, a long-time Ayala Land executive with deep experience in offices, malls, and international sales, has crossed over to Megaworld to lead its newly formed Megaworld Global Offices group.
Inside industry circles, the move is viewed as a clear coup. He was chief operating officer of Ayala Land Offices and sat at the center of strategy, leasing, and portfolio defense during the pandemic years.
At Megaworld, Roxas’ mandate is tightly defined but strategically expansive: grow the office portfolio in five priority growth corridors—Ilocos, Pampanga, Cavite, Bacolod, and Cagayan de Oro. These are not fringe markets but emerging regional hubs benefiting from infrastructure spending, talent decentralization, and cost pressures pushing tenants beyond Metro Manila.
The hire signals Megaworld’s intent to professionalize and institutionalize its office platform further, especially as competition intensifies. Ayala Land has long dominated the premium office narrative, with scale, process, and blue-chip tenants. By bringing in an executive steeped in that system, Megaworld gains operational know-how and insight into how its largest rival thinks, prices and positions assets.
Roxas helped steer Ayala Land's office portfolio through Covid-19 and was instrumental in aligning leasing, operations, and facilities under a single strategy. Replacing that level of institutional memory will not be easy, particularly as office landlords recalibrate for hybrid work and regional expansion.
Meanwhile, the timing appears deliberate for Megaworld. The group has been expanding its office footprint beyond the metropolis, supported by a dedicated leasing arm and a pipeline of township-led developments in the provinces. The idea of Megaworld boss Kevin Tan is for Roxas to provide more executive weight and execution discipline.
It should be interesting to watch both firms in the coming months — the kind of impact Roxas will have on Megaworld’s operations, and whom Ayala Land will tap to fill the void caused by his departure.
Senior Reporter
