Megaworld expands office portfolio in Davao

Subscribe Now June 01, 2016 at 06:16am

MEGAWORLD Corp. will build two more office towers in Davao City, further expanding its presence in president-elect Rodrigo R. Duterte’s hometown.

In a statement issued Tuesday, tycoon Andrew Tan’s property giant unveiled plans to build One Republic Plaza and Emperador House within the 11-hectare Davao Park District in Lanang, Davao City.

The two projects will add 30,000 square meters to its office inventory in Davao City, amid an anticipated increase in demand from the business process outsourcing (BPO) industry.

“Being one of the top BPO destinations in the country, we see an upward tick in the demand for office spaces in Davao City in the next three years,” Megaworld Senior Vice-president Jericho P. Go said in the statement.

“Megaworld is committed to respond to this demand so companies will not think twice of locating here,” Mr. Go added.

One Republic Plaza is a 10-storey office tower, while Emperador House is a themed six-storey tower featuring a European-inspired architecture.

Megaworld is currently building the P1.2-billion, 15-storey Davao Finance Center near the main entrance of the Davao Park District.

The listed property company’s office inventory currently stands around 800,000 square meters nationwide.

Aside from expanding its office portfolio, Megaworld is building a retail row and shophouses around Davao Park District. The township will host 100,000 direct and indirect jobs by 2020.

“We will certainly bring first-time, new locators to Davao City. That’s the same thing that we are doing to other cities like Iloilo and Lapu-Lapu City in Cebu,” Mr. Go said.

Megaworld also plans to construct a hospital and a school within the township. Two more residential towers are scheduled for launch within the year.

“In the next five years, we hope to see more and more people coming home to the provinces because they find more opportunities here. This way, we also help decongest Metro Manila,” Mr. Go said.

Megaworld rose 16 centavos or 3.69% to P4.50 on the Philippine Stock Exchange on Tuesday.

Source: bworldonline.com



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