Megaworld readies unit for provincial expansion
MANILA, Philippines — Megaworld Corp. has created a new unit focused on the office space segment as it seeks to ensure dominance in areas outside the capital region and court more Fortune 500 multinational companies.
To be dubbed Megaworld Global Offices, the new firm will be tasked to pump up the group’s office portfolio in key areas such as the Ilocos Region, Pampanga, Cavite, Bacolod and Cagayan de Oro.
This move is part of the firm’s goal to achieve 2 million square meters of leasable office space. Currently, it has over 1.6 million square meters across almost 90 towers nationwide.
“We continue to see strong demand for office spaces in the country, even with the rapid emergence of artificial intelligence and other new technologies,” Lourdes Gutierrez-Alfonso, president and CEO of Megaworld, said in a statement.
“These digital advancements continue to fuel substantial growth among many industries and create significant opportunities for finance, IT and health-care professionals,” she added.
With a boosted footprint, Megaworld is confident of getting more Fortune 500 multinational firms and startups as well.
READ: Megaworld budgets P30B to build new offices
Portfolio
At present, Megaworld houses nearly 200 companies, with most of them located in Eastwood City, Uptown Bonifacio, McKinley Hill, McKinley West and Iloilo Business Park.
READ: Eastwood City to undergo P2.5-billion facelift
Megaworld has appointed Francisco Roxas, an industry veteran with more than three decades of experience, to lead Megaworld Global Offices.
Aside from office spaces, Megaworld develops townships, residences, hotels and resorts and lifestyle malls.
READ: Megaworld to invest P8B in Negros township
Earlier this week, the company said it would spend P8 billion to develop a new township project in Negros Occidental.
The developer’s earnings in the January to September period last year reached P17.9 billion, 14 percent up from a year ago’s P15.69 billion. Consolidated revenues also improved by 7.75 percent to P64.41 billion from P59.78 billion. —INQ
