Billionaire Andrew Tan-led Megaworld Corp. is set to invest ₱30 billion over the next five years to develop new office spaces within its townships, with a strong focus on areas outside Metro Manila.
The real estate giant announced that the budget will also be used to revitalize its existing office developments, aligning with its strategy to “reinvent, reinvigorate, and reimagine” its office portfolio.
“We are optimistic about the office sector in the Philippines, particularly as more international companies continue to enter and expand their operations here,” said Megaworld executive director Kevin Tan.
The new offices will be developed in Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, and Metro Manila, reinforcing Megaworld’s presence in key business hubs across the country.
This expansion comes as Metro Manila’s office sector faces challenges, with vacancy rates hitting a record 19.4% last year, according to Colliers Philippines. By focusing on high-growth provincial areas, Megaworld aims to capitalize on increasing demand for office spaces in emerging business districts.