Megaworld set to expand cyberpark Eastwood City

Property giant Megaworld Corp. is set to expand its pioneering cyberpark Eastwood City with the purchase of an additional 1.5 hectares of land on which the company can build additional office, residential and retail space.

In a briefing on Monday, Megaworld senior vice president Jericho Go said the purchase of additional property, on the eastern part of the township (along Eastwood Palmtree Avenue) beside Eastwood Le Grand Tower 3, brings the total land area of Eastwood City to 18.5 hectares.

This project is expected to beef up Megaworld’s office leasing portfolio by 100,000 square meters, Go said.

At the same time, he said this would open up 9,000 square meters of additional retail space as all planned towers would have leasable commercial space at the ground levels.

The mixed-use project will also have 600 new residential units with an average footprint of 40 to 50 sq m each.

“The tremendous success of Eastwood City as the country’s first cyberpark and premiere township has attracted thousands of Filipinos to live here, hundreds of IT and BPO (information technology and business process outsourcing) companies to operate here, and thousands of visitors and shoppers to enjoy what life in Eastwood can offer. We envisioned the expansion of this township years ago, and now, it is happening,” Go said.

Eastwood City’s three lifestyle malls attract a daily foot traffic of 100,000, as the township is home to about 500 commercial and retail locators.

As for office space, 60,000 IT and BPO workers in 59 companies comprise Eastwood City’s daytime population, making it the biggest cyberpark in the Philippines in terms of workforce.

Eastwood City, the country’s first Philippine Economic Zone Authority (Peza)-accredited township, has 11 corporate office towers covering 270,000 sq m of office space. The top companies in terms of office space usage are Accenture, Citibank, IBM, Dell, Concentrix and WNS.

Since its establishment in 1999, Eastwood City is now home to around 25,000 residents with its 21 high-rise residential towers with 7,250 condominium units. It has its own police station, fire station and Catholic parish (St. John Paul II church). Doris C. Dumlao