Megaworld Allocates P350B for Expansive Township Developments

Megaworld Corp., the flagship property firm of billionaire Andrew Tan, has announced a P350-billion spending plan over the next five years to develop existing and new township projects across the Philippines. The company aims to focus on “new growth areas” in Luzon, Visayas, and Mindanao.

Megaworld’s chief strategy officer, Kevin Tan, stated that this capital spending program will allow the company to capitalize on opportunities in building townships and mixed-use lifestyle communities. The company plans to expand its existing townships by constructing residential, office, mall, and hotel properties.

Megaworld, which pioneered the urban township concept with the launch of Eastwood City in Quezon City in the mid-1990s, currently has 30 township projects nationwide. In Luzon alone, the firm plans to launch new integrated estate projects in the Southern Tagalog and Southwestern Tagalog regions.

Additionally, Megaworld will develop Grade A office towers to meet the increasing demand for workspaces, especially from emerging businesses and industries. The office towers will be situated in various townships, including Metro Manila, Pampanga, Bulacan, Cavite, Cebu, Iloilo, Bacolod, and Davao.

The company will also construct new mall projects in Pampanga, Bulacan, Cavite, Rizal, Cebu, Bacolod, and Davao. Furthermore, Megaworld plans to enhance its capacity to accommodate tourists and business customers due to the growing demand for meetings, incentives, conventions, and exhibitions.


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