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Manila Bulletin devider Business devider The Stock Market devider Megaworld invests ₱3.4 billion in Bacolod, Mactan, Palawan townships

Megaworld invests ₱3.4 billion in Bacolod, Mactan, Palawan townships

Published Oct 13, 2025 12:02 pm
The 34-hectare The Upper East township is a rising modern business and lifestyle district of Bacolod City
The 34-hectare The Upper East township is a rising modern business and lifestyle district of Bacolod City
Top township developer Megaworld Corp. is reinvesting ₱3.4 billion from the recent sale of MREIT Inc. shares to expand the offerings of its three township developments in Bacolod, Mactan, and Palawan.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said portions of the share sale proceeds will be used to develop new income-generating assets such as office towers, lifestyle malls, and hotels.
“These three provincial townships, while different in scale and themes, have huge potential for tourism, which will drive business into these localities,” said Megaworld President and Chief Executive Officer (CEO) Lourdes Gutierrez-Alfonso.
She added that, “We hope to be able to expand our offerings that can generate more jobs and help boost tourism in these exciting destinations.”
“We look forward to the new income-generating assets that will be part of the potential future assets of MREIT, particularly the new malls and offices that will be built,” said MREIT Chairman Kevin L. Tan.
He noted that, “As we move closer to our one million square meters (sqm) of GLA [gross leasable area] target, we are already laying the groundwork for growth beyond that milestone.
“These projects will not only sustain MREIT’s expansion pipeline but also enhance its long-term earnings visibility and shareholder value.”
Currently, Megaworld is developing the 34-hectare (ha) The Upper East in Bacolod City, which is poised to be a modern business and lifestyle district located across the Bacolod City Government Center.
The township, which stands on a property that used to be the Bacolod-Murcia Milling Co. sugar mill complex, has already completed the construction of three residential condominium towers and one office building, while two more residential developments, one office tower, and one hotel are under construction.
By next year, the company is set to start constructing its lifestyle mall within the township.
Megaworld is also developing The Mactan Newtown in Lapu-Lapu City’s tourism coastline, a 30-ha new business, lifestyle, and tourism district with its beach that serves as a unique amenity for the entire township.
At present, four residential developments have already been completed, while three more are under construction. The township is also home to five office towers and two hotels.
Two tourism-related facilities are also being constructed: Mactan Expo, which is a standalone convention center, and Mactan World Museum, a multi-level historical and cultural museum that commemorates Ferdinand Magellan’s arrival in 1521.
In San Vicente, Palawan, Megaworld is developing Paragua Coastown, a 462-ha eco-tourism community along the country’s longest coastline.
The firm is currently building two hotels, two residential condominiums, a residential village, commercial districts, and nature parks inside the estate.
Currently, MREIT’s portfolio comprises 24 prime office properties strategically located in five Megaworld townships: Eastwood City in Quezon City; McKinley Hill and McKinley West in Taguig City; Iloilo Business Park in Iloilo City; and Davao Park District in Davao City.

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Megaworld Corporation MREIT Inc. Lourdes Gutierrez-Alfonso Kevin L. Tan
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