The investment will fund new Leadership in Energy and Environmental Design (LEED)-certified office buildings in Metro Manila and provincial townships such as Bulacan, Pampanga, Bacolod, Iloilo, Cebu, and Davao, while also upgrading existing developments across the country.
“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,” said Kevin L. Tan, president and CEO, Alliance Global Group, the parent company of Megaworld.
“We see a significant spike in demand for office spaces, not just among BPO companies, but even from traditional tenants as well,” he added.
This push comes as the company sees stronger interest not only from business process outsourcing (BPO) firms but also from traditional office tenants and international businesses expanding in the Philippines.
So far this year, Megaworld has opened around 60,000 square meters of new office space in Iloilo, Bacolod, and Pampanga, and expects to launch another 50,000 square meters in 2024, mainly in Cebu and other regional hubs.
Designed with sustainability in mind
The new buildings will feature sustainability-focused designs and updated amenities as part of the firm’s long-term environmental, social, and governance (ESG) strategy.
“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,” said Lourdes Gutierrez-Alfonso, president, Megaworld.
The company currently operates 1.6 million square meters of gross leasable office space and aims to grow that to 2 million square meters by 2030.
Megaworld remains the largest office lessor in the Philippines, with nearly 900,000 square meters of space in Bonifacio Global City alone.
