Megaworld spending P55B to boost portfolio

By Brix Lelis

May 14, 2024 12:27 am

TYCOON Andrew Tan's Megaworld Corp. is setting aside P55 billion for capital expenditures (capex) this year in line with a plan to expand its leasing portfolio to three million square meters (sqm) by 2030.

'This year, Megaworld has budgeted P55 billion for [capex], which is an important part of our overall P350-billion, five-year capex program that began in 2023,' said Kevin Tan, chief executive officer of Megaworld parent Alliance Global Group Inc.

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