French banking giant BNP Paribas is setting up a Philippine hub in Megaworld Corp.'s Uptown Bonifacio, adding another global financial heavyweight to the property developer's growing roster of multinational tenants.
Property giant Megaworld Corp. has appointed Javier Hernandez as the new head of Megaworld Lifestyle Malls, tasking the seasoned property executive with steering an ambitious expansion that will bring its retail portfolio to one million square meters of gross leasable area by 2030.
CEBU CITY— The Mactan Newtown, a 30-hectare township developed by property giant Megaworld Corp., has been declared the Tourism, Culture, and Investment Capital of Lapu-Lapu City on Mactan Island, Cebu.
Lourdes Gutierrez-Alfonso was there when Megaworld was still an upstart property developer in the late 1980s. Nearly four decades later, she is running one of the country’s biggest property groups.
The two-story facility is being developed by the Bacolod Filipino-Chinese Chamber of Commerce and Industry Inc. (BFCCCII) in partnership with Megaworld. The property company donated more than 2,000 square meters of land for the project, while the BFCCCII’s Chamber Volunteer Fire Brigade will operate the station once completed.
Savoy Hotel Manila was named the Philippines’ leading airport hotel for a sixth straight year, extending a winning streak supported by steady room demand near the country’s busiest airport.
Sports and leisure group Villaroman Golf Academy is expanding into Megaworld’s Maple Grove township in General Trias City, Cavite, with a new golf and lifestyle hub that will add sports, recreation, and dining options to the 140-hectare mixed-use development.
The country’s biggest property groups are closing ranks behind a push to delay new valuation rules, raising the pressure on the Marcos administration as developers grapple with higher costs, unsold units and a massive housing backlog.
Megaworld announced that outsourcing and IT solutions provider Innov8 IT Solutions Inc. has leased close to 5,000 square meters of office space at No. 1 Upper East Avenue inside the 34-hectare mixed-use township in Bacolod City, marking another milestone in the property developer’s strategy to expand its office footprint beyond Metro Manila.