Leading real estate developer, Megaworld is planning to open eight new Megaworld Lifestyle Malls outside of Metro Manila, in key regional centers across the country in the next three years. The company is offering around 200,000 square meters of fresh retail inventory that will open by 2022 in Cebu, Bacolod, Davao, Boracay, Cavite, and Pampanga, with an investment of PHP 10 billion (USD 191.7 million)
Among the malls that will be opened in the next two years is the Maple Grove Mall in General Trias, Cavite, which will be a greenhouse-inspired mall surrounded with gardens and trees – complementing the ‘green’ vibe of the Maple Grove township; and the Northill Town Center in Northill Gateway, Bacolod City, which will showcase the ‘hacienda-style’ town center in which Negros has been known for.
Megaworld Corp is the largest developer and landlord of office spaces in the Philippines. The company has 17 lifestyle malls across the Philippines, and a total retail space portfolio of around 710,000 square meters. Among its flagship malls under the Megaworld Lifestyle Malls brand are the Eastwood Mall in Quezon City; Uptown Mall, Venice Grand Canal and Forbes Town in Taguig City; Newport Mall at Resorts World Manila in Pasay City; Lucky Chinatown in Binondo, Manila; Southwoods Mall in Biñan, Laguna; and Festive Walk Mall in Iloilo City. In 2018, Megaworld Lifestyle Malls rental revenues reached PHP 5.5 billion (USD 106 million0, almost 40% of the company’s rental revenues last year.
(Sources: Megaworld Corporation)