Megaworld Corp reported a 45.6% increase in office lease renewals during the first half of the year, renewing 122,000 square meters compared to 83,353 square meters in the same period last year.
The renewal volume includes full occupancy of 24 office towers with a combined 430,000 square meters of gross leasable area across developments in Metro Manila, Cebu, Iloilo, Pampanga, and Davao.
Eastwood City accounted for about 30% of the renewed space, followed by Uptown Bonifacio, McKinley Hill, Iloilo Business Park, Southwoods City, ArcoVia City, and The Mactan Newtown.
Office leasing revenue for the first quarter reached 3.8 billion Philippine pesos after closing nearly 100,000 square meters of lease transactions.
The company plans to accelerate completion of office projects in Northwin Global City, The Upper East, and Davao Park District, adding roughly 51,000 square meters of office gross leasable area to its portfolio this year.
