Megaworld to spend P10B on 8 new malls

Publicly listed Megaworld Corp. has earmarked P10 billion for at least eight new malls in the next three years, and the rebranding of its Lifestyle Malls.

The company plans to offer around 200,000 square meters of fresh retail inventory in Boracay, Cebu, Cavite, Davao, and Pampanga until 2022, Kevin Tan, chief strategy officer, said in a press conference Tuesday in Taguig City.

“For the next three years, the Megaworld Lifestyle Malls brand will be seen in key growth areas around the country as we continue to tap opportunities for our retail partners to further expand and grow their brands with us.”

Moving forward, Tan said the company seeks to have a mall in each of its townships, which Megaworld targets to reach 30 by 2021.

“Our goal is to have a mall in each township that we have. And in every lifestyle mall, we will always help and support local entrepreneurs in that area to flourish and build their businesses with us.”

Megaworld now owns and operates 17 lifestyle malls across the country, with a total retail space portfolio estimated at 710,000 sqm.

Among the company’s flagship malls are Eastwood Mall in Quezon City; Uptown Mall, Venice Grand Canal and Forbes Town in Taguig City; Newport Mall at Resorts World Manila in Pasay City; Lucky Chinatown in Binondo, Manila; Southwoods Mall in Biñan, Laguna; and Festive Walk Mall in Iloilo City.

Megaworld Lifestyle Malls head Graham Coates noted the company also plans to expand existing malls in Metro Manila.

“We’re a very dynamic company and we’re seeking out all the opportunities to expand the brand nationally,” he said.

“We’re also expanding our footprint here in Manila. Most of our existing malls have areas for expansion,” said Coates.

In the same event, Megaworld launched a new logo for its Lifestyle Malls.

Megaworld unveils new logo for its Lifestyle Malls segment $MEG pic.twitter.com/mVsbY3ro2M

— Jon Viktor Cabuenas (@ViktorCabuenas) July 30, 2019

“We want to make visually impactful changes to our logo as we look to establish a stronger brand identity and to better reflect Megaworld Lifestyle Malls' strength as pioneer and developer of lifestyle destinations that are unique in design and character,” Tan said.

The new logo retains the look and branding of mother company Megaworld, while the unique letterforms of the words “Lifestyle Malls” takes on a more “fun and playful” appearance.

The “Lifestyle Malls” letterforms provide a canvas where multiple icons and visuals can be added, Tan said. —VDS, GMA News