By James A. Loyola
Urban developer Megaworld Corporation is opening 11 commercial properties across its townships all over the country this year as it continues to expand its commercial retail portfolio.
In a statement, the firm said it is slated to open new retail spaces this year in Iloilo Business Park; Alabang West in Las Piñas City; McKinley Hill and Uptown Bonifacio, both in Taguig City; Arcovia City in Pasig City; Boracay Newcoast; and Davao Park District.
These new commercial properties cover around 54,000 square meters in gross floor area.
By year-end, Megaworld’s commercial retail footprint will reach around 771,000 square meters, with presence all over Metro Manila, Luzon, Visayas and Mindanao.
“The biggest chunk of the new retail spaces will be in Uptown Bonifacio, as we embark on an expansion of our new retail row in front of Uptown Mall and Uptown Parade,” said Megaworld Chief Strategy Officer Kevin L. Tan.
He added that, “we are also launching a new retail development inside Arcovia City, our newest and must-visit township along C-5 in Pasig fronting Valle Verde. Down south, there is something exciting coming up in Alabang West, which is part of our Beverly Hills-themed commercial row.”
During the second half last year, Megaworld opened its first full-scale lifestyle mall in Iloilo Business Park, the P2.2-billion Festive Walk Mall, offering around 90,000 square meters of retail spaces.
It also opened three new community malls in Alabang and Makati, namely, The Village Square in Alabang, Muntinlupa City; Three Central in Valero Street, Salcedo Village, Makati City; and San Lorenzo Place in EDSA corner Chino Roces Avenue, Makati City.
These three new commercial centers offer around 26,500 square meters in retail spaces.
“Every mall that we build has curated spaces that evoke the character of the township where it is located. We want to create commercial properties that are not just for shopping and dining, but those that help drive tourism,” explained Tan.