Megaworld rolls out P30 B to build up office portfolio

Listed Megaworld Corp. is rolling out a P30-billion spending plan over the next five years to boost its office portfolio.

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The property giant will use the investment to build new office buildings as well as reinvent its existing office developments in its various townships across the country.

“We are optimistic about the office sector in the Philippines, particularly as more international companies continue to come in, either to establish their presence or expand their operations here,” said Kevin Tan, president and CEO of Alliance Global Group, the parent company of Megaworld.

Tan said Megaworld is seeing a significant spike in demand for office spaces, not just among business process outsourcing companies, but even from traditional tenants as well.