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The Philippine Economic Zone Authority signed the registration agreement of Megaworld Corp.’s ArcoVia City as an IT park in Pasig City
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The signing follows proclamation last April of the Pasig City township as an IT park
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Megaworld and its affiliates oversee nine economic zones, accommodating 221 registered businesses that collectively generated $3.29 billion in exports in 2023
The Philippine Economic Zone Authority (PEZA) has signed the registration agreement of Megaworld Corp.’s ArcoVia City as an information technology park in Pasig City.
The agreement was also signed on May 21 by Megaworld executive vice president and chief strategy officer Kevin Tan.
The signing follows the issuance of Proclamation No. 512 dated April 1 which designates several parcels of land with an aggregate area of 123,837 square meters (sqm) located along E. Rodriguez Jr. Avenue, Ugong, Pasig City as an IT park to be known as ArcoVia City.
READ: 2 new special ecozones created
Through the establishment of cutting-edge ecozones, PEZA in a statement said both parties aim to generate interest, engage and entice housing more local and international investors.
“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,” PEZA director general Tereso Panga said in a statement.
“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,” Panga added.
Currently, Megaworld and its affiliates oversee nine economic zones, accommodating 221 registered businesses that collectively generated $3.29 billion in exports in 2023, while providing direct employment to more than 160,000 Filipinos.
ArcoVia City is one of the two ecozones proclaimed this year so far. This brings the total of proclaimed ecozones under the current administration to 13, with P4.856 billion investments.
