Property developer Megaworld Corp. said Monday it will boost its office portfolio by investing P30 billion over the next five years.
The new office towers will rise at Megaworld townships in Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, Metro Manila and other new growth areas.
The property firm said it is making the huge investment in the office sector despite the current slump in the market brought about by the exit of Philippine offshore gaming operators, work-from-home arrangement and rightsizing of companies.
“We are optimistic about the office sector in the Philippines, particularly as more international companies continue to come in, either to establish their presence or expand their operations here,” said Kevin Tan, president and chief executive of Alliance Global Group, the parent company of Megaworld.
“We see a significant spike in demand for office spaces, not just among BPO companies, but even from traditional tenants as well,” Tan said.
All planned office developments will be LEED-registered and certified, and packed with sustainability features and several new amenities, Megaworld said.
Since the start of 2025, Megaworld has opened office towers in its provincial townships covering around 60,000 square meters of gross leasable area (GLA). These include Enterprise One in Iloilo Business Park, No. 1 Upper East in The Upper East Bacolod and Pasudeco Tower in Capital Town Pampanga.
For the remainder of the year, it plans to open another 50,000 square meters of office inventory, particularly in Bacolod, Iloilo and Cebu.
“The new office towers will highlight our continuing thrust towards embracing sustainability. We have been putting greater emphasis on this aspect of our business. This is part of our commitment to become more mindful about how we can help protect and preserve the environment together with our tenant partners,” said Lourdes Gutierrez-Alfonso, president of Megaworld.
Megaworld said last year it aimed to have 2,000,000 square meters of gross leasable office space by 2030.
It has about 1.6 million square meters of leasable office space in its portfolio, making it the biggest office developer and lessor in the Philippines.
Bulk of Megaworld’s office portfolio is located in Bonifacio Global City (BGC) with close to 900,000 square meters of office space.