Megaworld expanding Eastwood City to cater to more BPOs
MANILA, Philippines – Property giant Megaworld Corporation is expanding Eastwood City – its first township in the Philippines and the country’s first cyberpark – by an additional 1.5 hectares amid growing demand for office and commercial space.
The company announced in a stock exchange disclosure on Monday, May 26, that it acquired a property located at the eastern part of the Quezon City township along Eastwood Palmtree Avenue, beside the Eastwood Le Grand Tower 3.
The purchase brings Eastwood City's total land area to 18.5 hectares.
At least 3 office towers are in the pipeline. First to rise is a high-rise, mixed-use tower that combines residential, office and commercial in a cluster.
The company estimates to offer around 100,000 square meters of office space that will be built progressively over the next few years and around 600 residential units in the expansion area. All towers will have leasable commercial space at the ground levels.
To date, Eastwood City is home to an estimated 60,000 information technology (IT) and business process outsourcing (BPO) workers in 59 companies, making it the biggest cyberpark in the Philippines in terms of workforce. It is also home to around 25,000 residents and about 500 commercial and retail partners.
Established in 1999, Eastwood City is one of Megaworld’s most successful townships that pioneered the "live-work-play" lifestyle concept in the Philippines.
The township currently has 10 office buildings, mostly occupied by some of the country’s biggest IT-BPO companies, 19 residential condominium towers, 3 Megaworld lifestyle malls. and the Eastwood Richmonde Hotel. – Rappler.com