Megaworld to launch P50-B residential projects amid township expansion

MEGAWORLD CORP. plans to launch P50 billion worth of residential projects in 2026 as it expands its integrated township developments and capitalizes on demand in high-growth provincial markets.

“Our plan reflects measured but meaningful growth, with P50 billion in residential launches, P55 billion in capex, and continued expansion of our recurring income base. We are not waiting for the environment to improve, and our strategy is built to perform within it,” Megaworld Executive Director Kevin Andrew L. Tan said during the company’s annual stockholders’ meeting on Friday last week.

The listed property developer is focusing on its provincial footprint, citing sustained demand for horizontal residential developments and luxury offerings.

Megaworld had previously announced a P65-billion capital spending program for 2026 in February.

In Northern Luzon, the company’s 84-hectare Ilocandia Coastown township in Laoag, Ilocos Norte, recorded strong demand for its first residential project, Ilocandia Beach Village, which sold out weeks after its launch.

Megaworld said broad land development for the township is scheduled to begin next year and will include hotels, office buildings, and commercial facilities.

“The success of Ilocandia Beach Village demonstrates the sustained demand for our horizontal residential developments across Megaworld townships throughout the country,” Megaworld President Lourdes T. Gutierrez-Alfonso said.

Megaworld recently reported P28 billion in residential sales from four projects: Ilocandia Beach Village, Paragua Beach Village in San Vicente, Palawan, Maple Grove Park Village in General Trias, Cavite, and Embassy Hills in Quezon City, its first ultra-high-end development under the Megaworld Luxe Collection.

Meanwhile, Mr. Tan said Megaworld completed the fourth wave of asset infusions into MREIT, Inc. worth P16.2 billion, increasing the real estate investment trust’s gross leasable area by 34% to 647,000 square meters (sq.m.).

The company said it has submitted regulatory filings for a fifth asset infusion, which is targeted for completion in the second half of 2026.

Once completed, Megaworld expects MREIT to reach one million sq.m. of gross leasable area three years ahead of its original target. — Juliana Chloe A. Gonzales