Megaworld to build 8 more malls outside Metro Manila

MANILA, Philippines – Listed property developer Megaworld Corporation said it has set aside some P10 billion to build 8 lifestyle malls outside Metro Manila in the next 3 years. (READ: Alliance Global sets P410-billion capex for 2020 to 2024)

In a statement on Tuesday, July 30, Megaworld said these malls will be built in Bacolod City, Boracay, Cavite, Cebu, Davao City, and Pampanga, providing a total of around 200,000 square meters (sqm) of retail space. (READ: Megaworld plans more developments in Visayas, Mindanao)

"Our goal is to have a mall in each township that we have. And in every lifestyle mall, we will always help and support local entrepreneurs in that area to flourish and build their businesses with us," Megaworld chief strategic officer Kevin Tan said.

In the next two years, Megaworld will be building a greenhouse-inspired Maple Grove Mall at its Maple Grove township in General Trias City, Cavite, and a hacienda-style Northill Town Center at Northill Gateway in Bacolod City.

The rest of the planned malls will be launched until 2022.

Megaworld currently has 17 malls in the Philippines, covering around 710,000 sqm of retail space. – Rappler.com