Megaworld Corporation Spends P2.5B to Revitalize Eastwood City

Property giant Megaworld Corporation has started its P2.5-billion redevelopment of Eastwood City, the company’s first township development

Part of the project is to reimagine, reinvent, and revitalize the commercial areas, as well as select residential and office developments that have been in place for many years. 

The company is currently upgrading its commercial areas and lifestyle malls, including Eastwood Citywalk, Eastwood Mall, and the Eastwood Mall Open Park. The plan also includes the ongoing enhancement of Eastwood Richmonde Hotel and the phased refurbishment of office towers, beginning with the recently completed renovation of IBM Plaza. 

Upgrades to the lobbies, facilities, and amenities of additional office buildings and residential towers are also included in the plan, with renovations set to roll out in the coming months as Megaworld continues its efforts to reinvigorate the entire township.

Eastwood Mall, the township’s premier lifestyle mall, has already been redeveloped with refreshed interiors, upgraded cinemas, and a rejuvenated tenant mix. Select areas of the mall have been converted into new lifestyle concepts, including the country’s first branch of SuperPark Philippines, a Finnish all-in-one indoor activity park.

Renovation works have also been completed at Eastwood Citywalk, where the popular nightlife destination Fuente Circle, now features a bold, Bourbon-inspired façade. Its former cinema space has been transformed into the new REP Eastwood Theater, now home to the renowned Philippine theater company Repertory Philippines. The fourth floor of Eastwood Citywalk has also been redesigned into a modern Food Park, featuring updated interiors and ambiance, along with a curated mix of new dining concepts.

Redevelopment efforts are also underway for the township’s parks and open spaces, including the transformation of the Eastwood Mall Open Park, which will soon offer a vibrant open-air space featuring popular dining and lifestyle brands, such as Harlan + Holden, SaladStop!, Matcha Tokyo, and Jamba Juice, among others.

“Eastwood City holds a special place in our history as Megaworld’s very first township, and this redevelopment reflects our commitment to keeping it vibrant, relevant, and future-ready. We are not only preserving its legacy but also reinventing it into a township of the future— setting an even higher standard for integrated urban living,” says Lourdes Gutierrez-Alfonso, president of Megaworld.

Eastwood City is an 18.5-hectare township and Megaworld’s first mixed-use development, launched in 1997. Recognized as the country’s first IT cyberpark, it is widely regarded as the birthplace of the BPO industry, serving as headquarters to numerous global companies and multinational firms. Today, Eastwood City is home to 23 residential condominium towers, 11 office buildings, and three lifestyle malls, with nearly 500 restaurants and shops operating throughout its vibrant commercial areas—making it a bustling hub for work, living, and leisure.