LISTED property developer Megaworld Corp. is considering building additional convention centers in strategic tourism hubs across the country over the next decade, following its recent entry into the meetings, incentives, conferences, and exhibitions (MICE) sector, a company official said on Thursday.
Last Tuesday, the developer unveiled the Mactan Expo, a P1.5-billion standalone convention center, marking its initial foray into the MICE sector. The facility is located within the 30-hectare The Mactan Newtown township in Lapu-Lapu City, Cebu.
The Mactan Expo will serve as the inaugural venue of the ASEAN Travel Exchange (TRAVEX) from Jan. 28 to 30, one of the key events under the Philippines’ chairmanship of the ASEAN Summit.
“We’re even looking at expanding our MICE business in the next five to 10 years. We are studying opportunities for convention centers in major tourism areas around the country, particularly in locations where we already have townships,” Harold Brian C. Geronimo, First Vice President at Megaworld Corp., told reporters during the media preview of the Mactan Expo.
“Palawan could be one of the destinations that we are looking into, but these are still internal discussions,” Mr. Geronimo said, noting that the province is a top tourist destination.
“But let’s see how this convention center business will perform and whether opportunities will open up in destinations such as Palawan and Ilocos,” he added.
Megaworld currently has 37 townships nationwide, with its largest being the 1,200-hectare Twin Lakes estate located near Tagaytay City.
Mr. Geronimo said building new convention centers annually may not be feasible, citing factors such as demand, available space, and the size requirements of specific areas.
However, he noted that each township is being evaluated for the potential development of convention centers.
Meanwhile, Louella Caridad, Megaworld’s Head of Events and Conventions and the recently appointed lead for the Mactan Expo, said the outlook for developing additional convention centers is positive and that projects must be built in areas where they are needed.
There is no allocated capital expenditure (CAPEX) yet for the initiative as plans are still being finalized, Mr. Geronimo said.
However, he noted that Megaworld is likely to maintain its P50-billion capital expenditure budget for 2026 to support future projects and developments.
The real estate budget forms part of the P63-billion capital expenditure (CAPEX) of parent company Alliance Global Group, Inc., led by tycoon Andrew L. Tan, according to the company’s 2025 CAPEX report. — Edg Adrian A. Eva