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Manila Bulletin devider Business devider The Stock Market devider Megaworld invests ₱10 billion in 4 new malls to expand recurring income portfolio

Megaworld invests ₱10 billion in 4 new malls to expand recurring income portfolio

Published Feb 19, 2026 01:02 pm
Megaworld's Maple Grove township in General Trias, Cavite
Megaworld's Maple Grove township in General Trias, Cavite

Andrew Tan-led township developer Megaworld Corp., through its retail and commercial arm Megaworld Lifestyle Malls, is investing ₱10 billion to build four malls, which will add more than 150,000 square meters (sqm) of gross floor area (GFA) to its retail portfolio.

The firm said in a disclosure to the Philippine Stock Exchange (PSE) on Thursday, Feb. 19, that the new retail developments are Capital Mall in San Fernando City, Pampanga; Northwin Global Concourse in Marilao and Bocaue, Bulacan; Maple Grove Mall in General Trias City, Cavite; and The Upper East Mall in Bacolod City.

Megaworld said it will begin construction of new lifestyle malls and commercial developments across several of its townships nationwide from this year until next year to reinforce its leasing pipeline and recurring income base.

The new malls are also part of its continued expansion to grow its portfolio to one million sqm of gross leasable area (GLA) by 2030.

“Stronger consumer spending continues to drive demand for quality commercial space, particularly in key growth centers where our townships are located,” said Graham Coates, head of Megaworld Lifestyle Malls.

He added that, “This allows us to expand our leasing portfolio while introducing new lifestyle concepts that enhance the overall value proposition of our developments.”

These “curated lifestyle malls” will serve their respective township communities through enhanced commercial synergy, providing a broader and more integrated selection of retail, dining, and lifestyle options for future mall-goers and customers.

Capital Mall is a four-level mall development set to rise within Capital Town Pampanga, featuring a design that pays homage to the heritage of Pampanga Sugar Development Co. (PASUDECO).

Also rising within Northwin Global City is Northwin Global Concourse, a two-level retail complex that will be directly connected to the upcoming North-South Commuter Railway’s (NSCR) Northwin station.

Maple Grove Mall will be a two-level retail development featuring a classical modern design and offering a curated mix of dining and retail spaces.

The three-level The Upper East Mall will adopt a contemporary classic design inspired by Upper East Side in New York City. A key design feature of the mall is the preservation and integration of a century-old Balete tree, which will serve as the focal point of the commercial property.

Megaworld is also expanding Festive Walk Mall through a new two-level retail development that will rise between the existing mall and Richmonde Hotel Iloilo. It will house a Landers Superstore branch, further strengthening the retail ecosystem within Iloilo Business Park.

The retail expansion forms part of Megaworld’s ₱65-billion capital expenditure (capex) program for 2026, which supports the continued expansion of its residential, office, hospitality, and retail offerings across its key townships in Metro Manila and the provinces, including Bacolod, Iloilo, Pampanga, Cavite, and Palawan.

Megaworld currently has over 500,000 sqm of GLA in its retail inventory.

The upcoming mall developments mark the latest phase in Megaworld’s aggressive retail expansion strategy, following a strong pipeline rollout over the past year.

In 2025, Megaworld Lifestyle Malls opened four new retail developments in strategic locations: McKinley West in Taguig City, Alabang West in Las Piñas City, Boracay Newcoast in Aklan province, and another in Makati City.

These include The Shoppes at Park McKinley West, a two-level retail podium beneath Park McKinley West residential tower; new retail spaces at Vion Tower along EDSA corner Chino Roces Avenue in Makati; expanded retail areas at Alabang West; and Newcoast Beachwalk at Boracay Newcoast.

Megaworld also plans to inject selected mall and retail assets into MREIT Inc., supporting its target to expand the real estate investment trust’s (REIT) portfolio to one million sqm of GLA by 2027.

Related Tags

Megaworld Corporation Megaworld Lifestyle Malls Graham Coates
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