PROPERTY giant Megaworld Corporation, through its retail arm Megaworld Lifestyle Malls, said Thursday that construction of new lifestyle malls and commercial developments in Pampanga, Bulacan, Cavite, and Bacolod would begin this year as part of its goal to reach one million square meters (sqm) of gross leasable area (GLA) by 2030.
The company told the stock exchange that it would be investing around P10 billion for the upcoming projects, which should add more than 150,000 sqm of gross floor area to its existing retail portfolio, reinforcing its leasing pipeline and recurring income base.
Among the planned new developments is Capital Mall in San Fernando, Pampanga, a four-level mall designed to honor the heritage of the Pampanga Sugar Development Company (Pasudeco), and the Northwin Global Concourse in Marilao and Bocaue, Bulacan, which would be a two-level retail complex directly connected to the future North-South Commuter Railway.
In General Trias, Cavite, Megaworld said Maple Grove Mall would be built as a two-level retail development featuring a mix of classical and modern design and a curated mix of dining and retail spaces.
Another project is The Upper East Mall in Bacolod City, which would adopt a contemporary-classic design inspired by New York’s Upper East Side, with a century-old Balete tree preserved as the focal point of the commercial property.
Megaworld is also expanding Festive Walk Mall in Iloilo through a new two-level extension that would house a Landers Superstore branch.
“Stronger consumer spending continues to drive demand for quality commercial space, particularly in key growth centers where our townships are located. This allows us to expand our leasing portfolio while introducing new lifestyle concepts that enhance the overall value proposition of our developments,” said Graham Coates, head of Megaworld Lifestyle Malls.
The retail expansion is part of Megaworld’s P65-billion capital expenditure program for 2026, which also supports the continued growth of its residential, office, and hospitality offerings across Metro Manila and key provincial townships in Bacolod, Iloilo, Pampanga, Cavite, and Palawan.
Currently, Megaworld holds over 500,000 sqm of GLA in its retail inventory.
The planned new mall developments come in the wake of last year’s strong rollout that included four new retail properties in McKinley West in Taguig, Alabang West, Boracay Newcoast in Aklan, and Makati.
Megaworld also plans to inject select mall and retail assets into MREIT, Inc. in line with its goal of expanding the REIT’s GLA portfolio to one million sqm by 2027.
Megaworld shares added P0.01, or 0.44 percent, to close at P2.30 each on Thursday.