Megaworld builds up retail portfolio

MANILA, Philippines — Megaworld Corp., the flagship property development firm of tycoon Andrew Tan, is expanding its commercial retail portfolio.

The company has lined up 11 commercial properties across its  different townships nationwide.

Kevin Tan, chief strategy officer of Megaworld, said the bulk of the new retail developments would be in Uptown Bonifacio in Taguig as the company continues to expand its presence in the fast growing district.

Megaworld is also launching a new development in Pasig.

“We are also launching a new retail development inside Arcovia City, our newest and must-visit township along C-5 in Pasig fronting Valle Verde. Down south, there is something exciting coming up in Alabang West, which is part of our Beverly Hills-themed commercial row,” Tan said.

By end of the year, the company will open new retail spaces in Iloilo Business Park in Mandurriao, Iloilo City; Alabang West along Daang Hari in Las Piñas City; McKinley Hill and Uptown Bonifacio, both in Taguig City; Arcovia City in Pasig City; Boracay Newcoast in Boracay Island, Aklan; and Davao Park District in Lanang, Davao City.

These new commercial properties cover around 54,000 square meters in gross floor area.

Last year, Megaworld opened its first full-scale lifestyle mall in Iloilo Business Park, the P2.2-billion Festive Walk Mall, which offers around 90,000 square meters of retail space.

It also opened three new community malls in Alabang and Makati, namely, The Village Square in Alabang, Muntinlupa City; Three Central in Valero Street, Salcedo Village, Makati City; and San Lorenzo Place in EDSA corner Chino Roces Avenue, Makati City. These three new commercial centers offer around 26,500 sqm in retail space.

“Every mall that we build has curated spaces that evoke the character of the township where it is located. We want to create commercial properties that are not just for shopping and dining, but those that help drive tourism,” Tan said.

Megaworld’s commercial retail footprint will reach around 771,000 sqm, with presence all over Metro Manila, Luzon, Visayas and Mindanao.