Megaworld to build more office towers this year

Megaworld, one of the country’s major property developers, is allocating P55 billion this year to build more office buildings and shopping malls. The new projects this year comes as the Megaworld Group completed 16 residential projects and 6 business process outsourcing (BPO) office towers with retail components in 2015. For this year, Megaworld is developing its new townships in Pasig City, Bacolod and Pampanga. It is also set to launch 14 office towers, malls, and commercial centers in McKinley West, Uptown Bonifacio, The Mactan Newtown (Cebu), Iloilo Business Park, Arcovia City, Southwoods City, and Alabang. In a statement to the stock exchange, Megaworld senior vice president Jericho Go said the company is bullish on the office and retail sector because it has seen remarkable growth in these businesses.