By James A. Loyola
Urban developer Megaworld Corporation is expanding its mall business outside of Metro Manila by investing P10 billion for the opening of eight new malls and commercial centers in key regional centers across the country over the next three years.
In a statement, the firm said it is offering around 200,000 square meters of fresh retail inventory that will open until 2022 in Cebu, Bacolod, Davao, Boracay, Cavite, and Pampanga.
“For the next three years, the Megaworld Lifestyle Malls brand will be seen in key growth areas around the country as we continue to tap opportunities for our retail partners to further expand and grow their brands with us,” said Megaworld Chief Strategy Officer Kevin L. Tan.
Each new mall will have a distinct character and vibe, a concept in which Megaworld Lifestyle Malls has been known for.
“We veer away from standardizing our malls. We study and curate them based on what its location is all about. We want each mall to have its own charm and identity – something that makes each one ‘endemic’ to the city where it is located,” explained Tan.
Among the malls that will be opened in the next two years is the Maple Grove Mall in General Trias, Cavite, which will be a greenhouse-inspired mall surrounded with gardens and trees – complementing the “green” vibe of the Maple Grove township.
It will also open the Northill Town Center in Northill Gateway, Bacolod City, which will showcase the “hacienda-style” town center in which Negros has been known for.
“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,” Tan said.
To date, Megaworld has 17 lifestyle malls across the Philippines, and a total retail space portfolio of around 710,000 square meters.
Among its flagship malls under the Megaworld Lifestyle Malls brand include Eastwood Mall in Quezon City; Uptown Mall, Venice Grand Canal and Forbes Town in Taguig City; Newport Mall at Resorts World Manila in Pasay City; Lucky Chinatown in Binondo, Manila; Southwoods Mall in Biñan, Laguna; and Festive Walk Mall in Iloilo City.