Megaworld Corporation, the real estate arm of billionaire Andrew Tan’s Alliance Global Group, has unveiled plans to invest ₱30 billion (approximately $523 million) over the next five years to expand its office portfolio across the Philippines. The ambitious plan is aimed at capturing rising demand from international firms seeking to establish or grow their operations in the country.
The expansion will focus on building new office towers within Megaworld’s integrated urban townships in key regions including Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, and Metro Manila. These projects are part of Megaworld’s broader “live-work-play-learn” development model, which combines residential, commercial, educational, and recreational elements to create self-sustaining communities.
Kevin Tan, executive director of Megaworld, expressed strong confidence in the local office market. He noted a resurgence of interest from foreign companies setting up or expanding in the Philippines, despite macroeconomic headwinds and high vacancy rates. “We are optimistic about the office sector,” Tan stated, “particularly as more international companies continue to come in.”
While Metro Manila recorded a 19.4% office vacancy rate last year, Megaworld believes there is room for growth—especially in emerging provincial business hubs. The company intends to modernize and reimagine its current developments to better suit evolving tenant needs, which increasingly favor flexible, tech-enabled workspaces.
Already the Philippines’ largest office landlord and developer, Megaworld manages over 1.5 million square meters of office space across more than 80 towers nationwide. With this fresh capital injection, the company aims to grow its footprint to two million square meters by 2030.
The investment reflects Megaworld’s long-term commitment to driving urban transformation and supporting the Philippines’ economic growth. By expanding its office portfolio in both established and emerging cities, the company aims to attract more multinational tenants, create jobs, and solidify its leadership in the country’s commercial real estate sector.
