Megaworld ups market share in Iloilo to 70%

MANILA, Philippines — Megaworld Corp. has strengthened its foothold in Iloilo City, accounting for 70 percent market share based on an internal study conducted in April.

As of end last month, the company had a leasable office portfolio of 100,000 square meters in its nine completed office towers inside the 72-hectare Iloilo Business Park, the company’s premier township development in the city.

Megaworld Premier Offices Roland Tiongson, first vice president, said the Iloilo Business Park covered around 20 percent of the company’s total office lease transactions in 2020, making it now the brightest spot in its office leasing business.

“In the middle of the strict lockdowns last year, we have received inquiries for available office spaces in Iloilo Business Park. Quite a number of our existing clients in Metro Manila have had strong interests about expanding in Iloilo. And they were very particular about being inside Iloilo Business Park,” Tiongson said.

Megaworld’s office towers are 100 percent occupied by mostly business process outsourcing companies. These include One Techno Place, Two Techno Place, Three Techno Place, One Global Center, Two Global Center, Festive Walk 1B, Richmonde Tower, One Fintech Place and Two Fintech Place.

These offices are mostly BPO companies that cater to healthcare, insurance and finance, security, and customer service, among others.

Last year, Megaworld closed lease deals with seven companies that are either first-time locators or existing locators looking for expansion spaces in Iloilo, totaling to almost 28,000 square meters of office spaces.

The company is constructing its 10th office development in Iloilo Business Park, the 12-storey Enterprise One, which will be the tallest office tower in the township once completed by 2023.