Megaworld to Invest ₱2.5B in Eastwood City Redevelopment

Megaworld Corporation has announced a ₱2.5 billion redevelopment plan for Eastwood City, the company’s first and flagship township project launched in 1997. Spanning 18.5 hectares, Eastwood City is set for a significant transformation to modernize and future-proof its facilities.

The redevelopment will focus on enhancing Eastwood’s commercial spaces, including Eastwood Citywalk, Eastwood Mall, and the Eastwood Mall Open Park. It also involves ongoing improvements to Eastwood Richmonde Hotel and phased renovations of office towers, starting with the recently completed upgrade of the IBM Plaza.

In the coming months, Megaworld plans to roll out further renovations targeting lobbies, amenities, and facilities of both office buildings and residential towers.

“Eastwood City holds a special place in our history as Megaworld’s first township. This project reaffirms our commitment to keeping it vibrant, relevant, and future-ready,” said Megaworld president Lourdes Gutierrez-Alfonso.

She added that the redevelopment is about preserving Eastwood’s legacy while transforming it into a next-generation township that raises the standard for integrated urban living.

Earlier this year, Megaworld also revealed plans to develop two new townships across more than 300 hectares in key growth areas in Luzon and Visayas.

The company’s portfolio includes residential, office, and retail developments, with businesses ranging from real estate sales to hotel management. Subsidiaries include Richmonde Hotel Group International, Empire East Land Holdings, Global-Estate Resorts, and Bonifacio West Development Corp.