PEZA And Megaworld Ink Deal For PHP818-M ArcoVia City With IT-BPM Park In Pasig

The Philippine Economic Zone Authority (PEZA) has signed a deal with Megaworld Corp. for the development of the PHP818 million ArcoVia City township with an Information Technology and Business Process Management (IT-BPM) park in Ugong, Pasig City.

ArcoVia City is designed as a home to residential condominiums surrounded by a vibrant retail hub, state-of-the-art office towers, and lush landscapes. I Photo: Megaworld International

Strategically located along C-5 Road, the 12.3-hectare ArcoVia City is designed as a home to residential condominiums surrounded by a vibrant retail hub, state-of-the-art office towers, and lush landscapes, making it Megaworld’s greenest urban development to date.

It will also be home to Manila’s newest tourism landmark—the 23-meter tall Arco de Emperador, the single-tallest bronze monument in the Philippines today.

The registration agreement for the project was signed by Tereso Panga, Director General of PEZA, and Kevin Tan, Executive Vice President and Chief Strategy Officer of Megaworld.

Panga emphasized, “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.”

President Ferdinand R. Marcos, Jr. signed on April 1, 2024, Proclamation 512 designating parcels of land in Ugong, Pasig City, as an IT park. Panga noted that the Marcos administration has designated 13 ecozones, with investments amounting to PHP4.86 billion.

He added, "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.”

Megaworld and its affiliates oversee nine economic zones, hosting 221 registered business enterprises that generated a total of USD3.29 billion in exports in 2023 and providing direct employment to more than 160,000 Filipinos.