PEZA declares Megaworld's Arcovia City as ecozone

Strengthening efforts in advancing the ecozone development program in the country, the Philippine Economic Zone Authority (PEZA) officially sealed the proclamation of Arcovia City as a new Information Technology (IT) park last 21 May 2024 at the PEZA Head Office.

This comes as Megaworld Corporation, represented by Executive Vice President and Chief Strategy Officer Mr. Kevin Tan, signed a Registration Agreement (RA) with PEZA to be the developer/operator of Arcovia City IT Park.

This partnership between PEZA and Megaworld further bolsters the Philippines' reputation as a premier investment hotspot in the region, with ecozones as drivers of growth and development.

Through the establishment of cutting-edge ecozones, both parties aim to generate interest, engage and entice housing more local and international investors.

Both DG Panga and Mr. Tan have expressed confidence in this endeavor, emphasizing their shared dedication to advancing the ecozone initiative, which ultimately contributes to the nation's economic growth and job creation for Filipinos.

“Megaworld’s commitment to nation-building is evident through their active participation in the country’s ecozone program. By establishing new zones, we can host global players in the IT-BPM industry, thereby giving more opportunities for Filipinos,” the PEZA Chief stated.

On 01 April 2024, President Ferdinand Marcos Jr.'s signed Proclamation No. 512 which designates parcels of land in Ugong, Pasig City, as an IT park which is part of Megaworld's township project.

Arcovia City is one of the two ecozones proclaimed by President Marcos Jr. this year. This brings the total of proclaimed ecozones under the Marcos Administration to 13 ecozones, with PhP 4.856 B investments.

“We are optimistic that more business titans in the real estate development sector will follow Megaworld’s lead and either establish or expand their portfolio in the government’s ecozone program,” expressed DG Panga.

Currently, Megaworld and its affiliates oversee nine economic zones, accommodating 221 registered businesses that collectively generated USD 3.29 billion in exports in 2023, while providing direct employment to more than 160,000 Filipinos.