Megaworld Corporation - real estatement development in the Philippines - townships - The Upper East Bacolod City

Megaworld Leasing Portfolio to Reach 3M sqm by 2030

Megaworld leasing portfolio is increasing to 3,000,000 square meters for both Megaworld Premier Offices and Megaworld Lifestyle Malls in the Philippines.


Property giant Megaworld leasing portfolio is getting ramped up! Megaworld is expanding its leasing portfolio until 2030 to reach 3,000,000 square meters of gross leasable area (GLA) for both Megaworld Premier Offices and Megaworld Lifestyle Malls. This is 52% higher than the company’s total leasing portfolio as of end-2023.

The Expanding Megaworld Leasing Portfolio

During the company’s Annual Stockholders’ Meeting, Alliance Global Group, Inc.’s chief executive officer Kevin L. Tan revealed that Megaworld’s gross leasable area for office spaces will reach 2,000,000 square meters by 2030, while gross leasable area for malls will reach 1,000,000 square meters by then.

“Growing our malls and office segments within the next six years is a big part of our continuing expansion. This year, Megaworld has budgeted P55-billion for capital expenditure, which is an important part of our overall P350-billion five-year capex program that began in 2023. The budget will be used to develop our existing and upcoming townships, residential projects, investment properties, as well as land acquisition,” says Tan.

These new office stocks will be from its townships in Bulacan, Pampanga, Cavite, Bacolod, and Metro Manila. The new retail spaces, on the other hand, will come from its lifestyle mall properties in Cavite, Rizal, Pampanga, Bulacan, Bacolod, Cebu. Davao, Boracay, and Palawan.

Megaworld, Megaworld Corporation, Megaworld leasing, real estate, real estate developer, Philippines, business, commercial spaces, residential developments, townships
Iloilo Business Park.

In 2023, the company expanded its office portfolio under Megaworld Premier Offices by 69,000 square meters of GLA to 1.5 million square meters after the successful turnover of the International Finance Center in Uptown Bonifacio. On the other hand, Megaworld Lifestyle Malls expanded its GLA by 33,000 square meters to 517,000 square meters with the opening of four new retail locations in various Megaworld townships, including the Philippines’ biggest Landers Superstore located at The Upper East in Bacolod City.

By the end of 2024, Megaworld will complete around 180,000 square meters of offices and around 100,000 square meters of mall and commercial retail spaces for the year.

Leave a Reply

Your email address will not be published. Required fields are marked *