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PEZA registers Megaworld's Arcovia City IT Park

Business | Trade & Industry

PEZA registers Megaworld's Arcovia City IT Park

By Khriscielle Yalao

The Philippine Economic Zone Authority (PEZA) has approved the registration of Megaworld Corp. as developer of Arcovia City Information Technology Park, as part of the conglomerate's township project in Pasig City.

PEZA said that Megaworld spent P817.5 million for the horizontal development of the IT Park.

The registration agreement was signed by PEZA Director General Tereso Panga and Megaworld Executive Vice President (EVP) and Megaworld Chief Strategy Officer Kevin Tan last May 21, according to PEZA.

The registration followed after President Ferdinand Marcos Jr. signed last April 1 Proclamation No. 512 designating portions of land in Barangay Ugong, Pasig City as an IT park, which is a part of Megaworld's township project.

The registration of Arcovia City under PEZA seeks to help the agency and the firm attract investments and engage business activities, as well as provide housing for local and foreign investors.

To date, Megaworld oversees nine economic zones, with 221 registered businesses that have generated $3.29 billion in exports last year. It has also provided over 160,000 jobs for Filipinos.

“Megaworld’s commitment to nation-building is evident through their active participation in the country’s ecozone program. By establishing new zones, we can host global players in the IT-BPM industry, thereby giving more opportunities for Filipinos,” said Panga.

“We are optimistic that more business titans in the real estate development sector will follow Megaworld’s lead and either establish or expand their portfolio in the government’s ecozone program,” he added.

Since Marcos Jr. took office in 2022, the administration has proclaimed 13 ecozones with an investment value of P4.86 billion.

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