The property giant is expanding The Mactan Newtown, Paragua Coastown, and The Upper East—three estates poised to drive economic and tourism activity beyond Metro Manila.
Management’s view
“These three provincial townships; while different in scale and themes, have huge potential for tourism, which will drive business into these localities,” Lourdes Gutierrez-Alfonso, president and CEO, Megaworld, said in a statement on Monday.
“We hope to be able to expand our offerings that can generate more jobs and help boost tourism in these exciting destinations,” she added.
Diversification goals
“We look forward to the new income-generating assets that will be part of the potential future assets of MREIT, particularly the new malls and offices that will be built,” MREIT chair Kevin Tan added.
“As we move closer to our one-million square meters of GLA target, we are already laying the groundwork for growth beyond that milestone. These projects will not only sustain MREIT’s expansion pipeline but also enhance its long-term earnings visibility and shareholder value,” he added.
Key townships
In Bacolod, the 34-hectare Upper East township is being reimagined from an old sugar mill complex into a modern business and lifestyle hub.
In Cebu, The Mactan Newtown continues to rise along Lapu-Lapu’s tourism belt with hotels, offices, and new attractions such as the Mactan Expo and Mactan World Museum.
And in Palawan, the 462-hectare Paragua Coastown is emerging as a model for eco-tourism development—reflecting Megaworld’s bold bet on the provinces as the next wave of real estate growth.
—Edited by Miguel R. Camus
