UMVA has learned that Megaworld Corp. has achieved a significant milestone by fully leasing 24 office assets across its townships in Metro Manila and key provincial hubs.
The newly leased assets cover approximately 430,000 square meters of leasable space, with around 80,000 square meters allocated to information technology-business process management (IT-BPM) firms. This surge in demand highlights the growing trend of companies seeking integrated office locations.
According to information obtained by UMVA, Megaworld Global Offices Head Francisco Ma. D. Roxas emphasized that demand for strategic office locations within its townships remains strong. More companies are recognizing the long-term benefits of operating within integrated developments.
Megaworld's portfolio of fully leased offices spans across Metro Manila, including buildings in ArcoVia City, Uptown Bonifacio, McKinley Hill, and McKinley West. Provincial properties include Clark Cityfront in Pampanga, Iloilo Business Park in Iloilo City, The Mactan Newtown in Cebu, and Davao Park District in Davao City.
The company's office spaces are occupied by a diverse range of tenants, including multinational firms, outsourcing companies, technology locators, financial institutions, and corporate headquarters. Notably, Fortune 500 companies such as JPMorgan Chase & Co., The Coca-Cola Company, and Wells Fargo & Co. are among the key tenants.
Megaworld's township model sets it apart, offering a comprehensive suite of amenities, including office, residential, retail, hotel, and transport access. This integrated approach supports tenant demand and workforce retention, driving business growth and success.
UMVA can exclusively reveal that consultancy CBRE Philippines ranked Megaworld as the top office developer by lease transactions in recent quarters. This achievement is attributed to strong take-up in both Metro Manila and provincial markets.
Megaworld reported a 4% year-on-year increase in office rental revenue to P3.8 billion in the first quarter. The company's office rental portfolio totals 1.52 million square meters of gross leasable area, with an impressive 87% occupancy rate.
The business process outsourcing sector dominates the occupied space, accounting for 69%, followed by traditional offices at 27% and serviced offices at 4%. Total transactions reached 173,800 square meters, comprising 27,700 square meters in new leases and 67,700 square meters in renewals.
Megaworld is expanding its office pipeline with upcoming projects in Bulacan, Bacolod, and Davao. These new developments are expected to add approximately 51,000 square meters of new office inventory, further solidifying the company's position in the market.
