MEGAWORLD Corp. said Tuesday that office lease renewals reached about 122,000 square meters in the first half, up 45.6 percent from 83,353 square meters in the same period last year, reflecting sustained demand across its township developments.
The renewed leases cover various office developments nationwide. Eastwood City accounted for about 30 percent, followed by Uptown Bonifacio and McKinley Hill in Taguig City, Iloilo Business Park, Southwoods City in Laguna and Cavite, as well as developments in Makati City, Las Piñas City, ArcoVia City in Pasig and The Mactan Newtown in Cebu.
"Our strong lease renewal performance reflects the trust and confidence that our tenants continue to place in us and in the long-term value of our office developments,” Megaworld Premier Offices head Roland Tiongson said.
“They have seen how the township concept benefited them and their employees because they thrive sustainably within a self-sustaining ecosystem that offers residential communities, hotels, retail and dining destinations, transport accessibility, and open spaces within a single, master-planned environment," he added.
Megaworld said it recently achieved full occupancy in 24 office towers with a combined gross leasable area of 430,000 square meters across townships in Metro Manila as well as Cebu, Iloilo, Pampanga and Davao, reflecting continued demand from both local and multinational companies.
During the first quarter, the company generated P3.8 billion in office leasing revenues and closed nearly 100,000 square meters of office lease transactions.
Building on the momentum, Megaworld said it was set to complete new office towers this year in Northwin Global City in Bulacan, The Upper East in Bacolod City and Davao Park District.
These developments are expected to add about 51,000 square meters of new office leasable space to its portfolio.
The company's office leasing revenues increased 11 percent year on year to P14.9 billion in 2025, driven by contributions from new assets, rental escalations, lease renewals and continued demand from business process outsourcing firms and multinationals.
On Tuesday, Megaworld shares ended firmer by P0.02, or 0.97 percent, to close at P2.08 each.
NAZYLEN JOY MABANGLO
