Megaworld investing P10 billion for new malls

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February 20, 2026 | 12:00am

MANILA, Philippines —  Property giant Megaworld Corp. is investing around P10 billion to scale up its retail portfolio, with new malls to be developed in Pampanga, Bulacan, Cavite and Bacolod.

Megaworld, through its retail and commercial arm Megaworld Lifestyle Malls, said it would start construction of new lifestyle malls and commercial developments across several of its townships nationwide this year until next year.

The upcoming projects will add more than 150,000 square meters of gross floor area to the company’s existing retail portfolio, beefing up its leasing pipeline and recurring income base.

“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.

Megaworld’s new retail developments include Capital Mall in Pampanga, Northwin Global Concourse in Bulacan, Maple Grove Mall in Cavite, and The Upper East Mall in Bacolod City.

Capital Mall is a four-level mall that will rise in Capital Town, Pampanga, while Northwin Global Concourse is a two-level retail complex within Northwin Global City, directly connected to the upcoming Northwin Station of the North–South Commuter Railway.

Maple Grove Mall will be a two-level retail development featuring a classical modern design, while the three-level The Upper East Mall will adopt a contemporary classic design inspired by the Upper East Side in New York.

Megaworld is also expanding Festive Walk Mall with a new two-level retail development that will rise between the existing mall and Richmonde Hotel Iloilo. It will be home to a Landers Superstore branch, further strengthening the retail ecosystem within Iloilo Business Park.

The retail expansion forms part of Megaworld’s P65-billion capital expenditure program for 2026, which supports the continued expansion of its residential, office, hospitality and retail offerings across its key townships in Metro Manila and the provinces.

The company currently has over 500,000 square meters of gross leasable area in its retail inventory.

Megaworld said the upcoming mall developments mark the latest phase in its aggressive retail expansion strategy, following a strong pipeline rollout over the past year.

Last year, Megaworld Lifestyle Malls opened four new retail developments. These are The Shoppes at Park McKinley West, a two-level retail podium beneath the Park McKinley West residential tower; new retail spaces at Vion Tower along EDSA corner Chino Roces Avenue in Makati; expanded retail areas in Alabang West and Newcoast Beachwalk in Boracay Newcoast.

Megaworld also intends to inject selected mall and retail assets into its real estate investment trust, MREIT Inc., to support the target of expanding its portfolio to one million square meters of gross leasable area by 2027.