Megaworld’s Mactan township project to generate 45,000 jobs

MANILA, Philippines - Megaworld Corp. of property tycoon Andrew L. Tan will help facilitate the creation of about 45,000 jobs in the Queen City of the South through its flagship township project.

In a disclosure to the stock exchange, the real estate developer said it expects to generate around 45,000 jobs in its 28.8-hectare Mactan Newtown mixed-useproject in Lapu Lapu City in the next five to seven years.

“The company is fasttracking the construction of its state-of-the-art office towers to boost more employment in Cebu, particularly in Mactan Island,” the firm said.

Megaworld first vice president Jericho P. Go said the company is building five to 10 more office towers in the township by 2021 to reach the target of 150,000 square meters (sqm) of office space inventory.

Megaworld is the country’s top developer of business process outsourcing (BPO) space.

“Due to an overwhelming demand of office spaces and significant growth of the BPO industry in Cebu, we are doing a massive infrastructure push in the Mactan Newtown,” Go said.

“We have received inquiries left and right from top BPO companies that are interested to set up operations in our township,” he added.

The P20-billion township is poised to become the first cyberpark with its own beach.

“This will make living, working, and playing in our township more exciting than what it used to be,” Go said.

The township’s first office tower, One World Center, is now fully leased out by two international BPO-IT companies: US-based Enfra USA and Results Manila. Both companies employ more than 2,000 employees.

The second office tower Two World Center, was recently topped off and is expected to start operations in June. Canada-based Manulife, one of the oldest life insurance firms in the country, has leased out the entire building for its operations in Cebu.

The six-story corporate building with over 7,000 sqm. of space will accommodate around 1,200 employees, Megaworld said.

“We now have three BPO locators in the township and all of them are first-time locators in Cebu. This is a clear indication that several BPO companies are eyeing on Mactan as their next hub, and that a Megaworld township remains to be their top choice,” Go said.

In the second half, the offices at the 8 Newtown Boulevard will also start operations, offering 35,000 sqm of additional office space inventory. Once fully occupied, the tower will generate 10,000 additional jobs in the township.

“This year, The Mactan Newtown will become a bustling cyberpark of Central Visayas, much like its predecessors, Eastwood City and McKinley Hill,” Go said.

Megaworld is the property arm of Alliance Global Group Inc., which is also into liquor (Emperador Distillers Inc.), fastfood (McDonald’s franchise operator Golden Arches Development Corp.) and hotels and casino (Travellers International Hotel Group Inc.).