LISTED property developer Megaworld Corp. is set to add 30,000 square meters (sq.m.) of retail space this year with the opening of malls in Taguig, Makati, Las Piñas, and Aklan.
Megaworld, through its retail and commercial arm Megaworld Lifestyle Malls, said in a disclosure on Wednesday that it remains on track to reach one million sq.m. in gross leasable area (GLA) by 2030.
Scheduled to open this year is The Shoppes at Park McKinley West, a two-storey mall within the Park McKinley West condominium complex in Fort Bonifacio. It will feature international retailers, first-in-the-Philippines concepts, and local dining and lifestyle brands such as Ogawa Traditional Japanese Restaurant, Tartufo, Royal Indian Curry House, One World Deli, George & Onnie’s, Café 17, Nightshade Cocktails & Bar, Hanamaruken, and Yakinuku Sudaku.
The company is also set to open a lifestyle mall at the Vion Tower in Makati and another in Las Piñas City’s Alabang West.
In the Visayas, Megaworld will launch Newcoast Beachwalk, a retail and dining hub catering to tourists.
Earlier, the company added 36,000 sq.m. of GLA at Lucky Chinatown in Binondo, Manila, with the opening of its Imperial Wing.
In June, Megaworld started the P2.5-billion redevelopment of its 18.5-hectare Eastwood City township.
Megaworld reported a 10% increase in first-half leasing revenues to P3.33 billion, supported by higher consumer foot traffic and strong demand from premium tenants.
“We are growing our leasing business by bringing our signature lifestyle mall concept to more locations while introducing new experiences that resonate with today’s consumers,” Megaworld Lifestyle Malls Head Graham M. Coates said.
“This approach allows us to drive sustained growth for Megaworld and, at the same time, enhance the value of our townships nationwide,” he added.
Shares in Megaworld rose 0.49% or one centavo to close at P2.05 apiece on Wednesday. — Beatriz Marie D. Cruz
