Megaworld to spend P10 billion on lifestyle malls in four provinces

MEGAWORLD Lifestyle Malls, the retail arm of Megaworld Corp., will invest about P10 billion to develop new lifestyle malls and commercial projects across several townships this year and next, adding more than 150,000 square meters (sq.m.) of gross floor area to its portfolio.

“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,” Megaworld Lifestyle Malls Head Graham Coates said in a statement on Thursday.

The projects include Capital Mall in San Fernando, Pampanga; Northwin Global Concourse in Marilao and Bocaue, Bulacan; Maple Grove Mall in General Trias, Cavite; and The Upper East Mall in Bacolod City.

Capital Mall is a four-level development within Capital Town Pampanga that honors the heritage of the Pampanga Sugar Development Company (PASUDECO).

Northwin Global Concourse is a two-level retail complex in Northwin Global City connected to the upcoming Northwin Station of the North-South Commuter Railway.

Maple Grove Mall offers a two-level classical modern design with retail and dining spaces, while The Upper East Mall features a three-level contemporary classic layout inspired by New York’s Upper East Side and centers on a preserved century-old Balete tree.

“These ‘curated lifestyle malls’ will serve their respective township communities through enhanced commercial synergy, providing a broader and more integrated selection of retail, dining, and lifestyle options for future mallgoers and customers,” the company said.

Megaworld is also adding a two-level extension to Festive Walk Mall in Iloilo Business Park, slotted between the existing mall and Richmonde Hotel, which will house a Landers Superstore branch.

The company targets one million sq.m. of gross leasable area (GLA) by 2030.

Megaworld’s retail expansion is part of its P65-billion 2026 capital expenditure program, which funds growth in residential, office, hospitality, and retail across townships in Metro Manila and provinces including Bacolod, Iloilo, Pampanga, Cavite, and Palawan.

The company currently has over 500,000 sq.m. of GLA, with upcoming mall projects continuing its retail expansion after last year’s rollout.

In 2025, Megaworld Lifestyle Malls opened four new retail developments at McKinley West in Taguig, Alabang West in Las Piñas City, Boracay Newcoast in Aklan, and Vion Tower in Makati, including the two-level Shoppes at Park McKinley West, new retail spaces at Vion Tower along EDSA corner Chino Roces Ave., expanded areas in Alabang West, and Newcoast Beachwalk in Boracay Newcoast.

The company said it also intends to infuse certain mall and retail properties into MREIT, Inc., as it works toward growing the REIT’s GLA to one million sq.m. by 2027.

At the local bourse on Thursday, Megaworld shares rose by 0.44% to close at P2.30 apiece. — Alexandria Grace C. Magno