Megaworld sets P350-B 5-year capex

Leading township developer Megaworld Corporation is allocating P350 billion for capital and project development spending from 2023 to 2027 to accelerate and further expand its township footprints nationwide.

During the firm’s annual stockholder’ meeting, Megaworld Chief Strategy Officer Kevin L. Tan said the 5-year CAPEX program is primarily intended to develop townships in new growth areas outside of Metro Manila, particularly in CALABARZON, MIMAROPA, Northern Luzon, and even in some parts of Visayas and Mindanao.

“This CAPEX program will allow Megaworld to set its sight on various opportunities in building townships or mixed-use lifestyle communities, which is already the strength of our company,” he added.

Tan noted that, “Aside from residential, office, malls, and hotels, there are more to offer to make every township more relevant and sustainable to the next generation of Filipinos.”

The company will also capitalize on opportunities in increasing tourism activities in the country, particularly in MICE (Meetings, Incentives, Conventions, Exhibitions) as it intends to build more hotels as well as MICE facilities such as convention centers in key cities within the next five years.

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Megaworld is also building more sustainable Grade A office towers to address the increasing demand for workspaces especially from emerging businesses and industries, even as BPOs remain to be a key driver for office demand.

These new office towers are lined up in various townships, particularly in Metro Manila, Pampanga, Bulacan, Cavite, Cebu, Iloilo, Bacolod, and Davao.

The company is also set to expand its Megaworld Lifestyle Malls portfolio, with new malls and commercial developments lined up for construction in the next five years, particularly in Pampanga, Bulacan, Cavite, Rizal, Cebu, Bacolod, and Davao.

“There will be some land acquisitions during this period, and we are also preparing for that. Most of the budget will really be used to spruce up and expand the existing townships, and of course, to put up more residential, offices, malls, and hotel properties,” said Tan.

Meanwhile, Megaworld Chairman and President Andrew L. Tan said Megaworld is committed to doing its part in the efforts of parent company Alliance Global Group Inc. to become carbon neutral and to generate 5 million jobs both directly and indirectly by 2035.

“As a township grows, we launch office buildings, creating direct employment opportunities in the thriving BPO sector. Our developments generate indirect jobs that support this industry as well, fostering economic growth within the surrounding areas,” he noted.

Meanwhile, Tan said “We have made it our priority to incorporate and lease 40 percent green and open spaces into the plans of every future community we create. We believe that by doing so, we can create vibrant and sustainable communities that we try for generations to come.”

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“As part of our visionary project development plans. We are dedicated to preserving centuries old trees within our townships. Our company makes use of endemic trees a crucial component in our mission to enhance the greenery in our townships, and make significant contributions towards mega world’s carbon offsets,” he added.

Megaworld’s malls also lead the way in sustainable design with solar roof panels and an open layout, they utilize natural light and ventilation, reducing energy consumption, and costs.

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The article was originally published in Manila Bulletin and written by James A. Loyola.

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