Megaworld Corporation, the Philippines’ largest office building developer and landlord, said its office lease renewals jumped 45.6 percent in the first half of 2026 versus same period last year driven by competitive township development model.
The Andrew Tan-owned property giant closed around 122,000 square meters of office lease renewals during the first half of 2026, outperforming the 83,353 square meters of office renewals recorded during the first half of 2025.
“These renewals are in various office developments across different townships,” the company said in a statement.
Eastwood City, its pioneering urban township concept in the Philippines and became the country’s first Information Technology (IT) cyberpark township development in Libis, Quezon City, accounted for about 30 percent of these lease renewals
This is followed by Uptown Bonifacio and McKinley Hill in Taguig City, Iloilo Business Park in Iloilo City, and Southwoods City in Biñan, Laguna and Carmona, Cavite. Other locations include Makati City, Las Piñas City, ArcoVia City in Pasig, and The Mactan Newtown in Lapu-Lapu City, Cebu.
The growth in lease renewals puts the spotlight on the resilience of the company’s office portfolio, highlighting the strength and competitive advantage of Megaworld’s township model that allows businesses to benefit from a strategic mix of premium office spaces, residential communities, retail destinations, hospitality offerings, and transport accessibility.
“Our strong lease renewal performance reflects the trust and confidence that our tenants continue to place in us and in the long-term value of our office developments. They have seen how the township concept benefitted them and their employees because they thrive sustainably within a self-sustaining ecosystem that offers residential communities, hotels, retail and dining destinations, transport accessibility, and open spaces within a single, master-planned environment. These are advantages that continue to resonate with companies looking for stable, future-ready workplaces,” says Roland J. Tiongson, head of Megaworld Premier Offices.
Adding to the strong momentum in its office business, Megaworld recently announced that it has fully leased 24 office towers collectively totalling 430,000 square meters of gross leasable area (GLA) across its townships nationwide.
From Metro Manila to key regional business hubs such as Cebu, Iloilo, Pampanga, and Davao, this achievement reflects strong occupier demand and reinforces the identity of Megaworld townships as a preferred destination for both local and multinational companies. During the first quarter of the year, the company generated PHP3.8 billion in office leasing revenues while closing nearly 100,000 square meters of office lease transactions.
Building on this momentum, Megaworld is ramping up the delivery of new office developments in its key townships nationwide. New office towers at Northwin Global City in Marilao and Bocaue in Bulacan, The Upper East in Bacolod City, and Davao Park District in Davao City are scheduled for completion this year, contributing approximately 51,000 square meters of fresh leasable office space inventory to Megaworld’s portfolio.
In 2025, Megaworld’s office leasing revenues reached PHP14.9-billion, up 11 percent year-on-year, driven by contributions from new assets, rental escalations, renewals, and continued take-up from BPO firms and multinational companies within the company’s integrated townships. This June, Megaworld celebrates its 37th year in the Philippine real estate industry as it continues to uplift lives, impact society, and help shape the nation through its 37 townships across the country spanning more than 7,000 hectares of land across Luzon, Visayas, and Mindanao.
Today, Megaworld remains one of the Philippines’ biggest property giants with over 800 residential developments spread across the country, the largest office landlord with over 1.7 million square meters of office GLA, and the largest hotel operator in terms of room keys in the Philippines.
