Tan’s Megaworld boosting retail footprint amid strong demand for office space
MEGAWORLD CORP. is boosting its retail footprint that will take advantage of the strong demand for office space within its townships across the country, while brushing aside concerns of a slowdown in the residential sector.
The property conglomerate of billionaire Andrew L. Tan will launch an average of 60,000 to 70,000 square meters (sqm) of retail space every year until 2019, Megaword Senior Vice-President Jericho S. Go told reporters last week.
By 2020, Megaword’s lifestyle malls will have a total gross floor area of 1.4 million sqm with their contribution to rental income seen increasing to as much as 50%.
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