Property developer Megaworld Corp. said Tuesday it will build two new office towers in the 11-hectare Davao Park District in Lanang, Davao City amid rising demand for office space in the area over the next three years.
Megaworld said in a statement the two office towers, called ‘One Republic Plaza’ and ‘Emperador House’, would provide 30,000 square meters of office space.
This will bring the group’s total office inventory in Davao Park District to 50,000 square meters.
Megaworld is currently building the P1.5-billion, 10- story Davao Finance Center offering 20,000 square meters of leasable space.
“This is just the start of our expansion of office offerings. Being one of the top BPO destinations in the country, we see an upward tick in the demand for office spaces in Davao City in the next three years. Megaworld is committed to respond to this demand so companies will not think twice of locating here,” Megaworld senior vice president Jericho Go said.
“We will certainly bring first-time, new locators to Davao City. That’s the same thing that we are doing to other cities like Iloilo and Lapu-Lapu City in Cebu. There are so many skilled talents for the BPO sector here, and we are sure about Davao City being a ‘hot’ pick for location,” Go said.
Aside from the expansion of its office portfolio, Megaworld is also building a retail row and shophouses around the township. It also plans to put up a hospital and a school in Davao District Park.
Three towers of the residential condominium cluster, One Lakeshore Drive, are almost sold out while two towers are scheduled for launching by subsidiary Suntrust Properties Inc. within the year.
“Megaworld’s commitment to nation building and spreading the economic prosperity to the provinces remains. In the next five years, we hope to see more and more people coming home to the provinces because they find more opportunities here. This way, we also help decongest Metro Manila,” Go said.
Davao Park District is Megaworld’s first township development in Mindanao.
Davao Park District, located in an 11.2″hectare property along S.P. Dakudao Loop in Lanang, is envisioned to be Davao City’s central business district and a major center for information technology and business process outsourcing in Mindanao.
Megaworld is allocating P15 billion in the next five to seven years to build and develop Davao Park District.