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Megaworld to open 2.2B-peso 'lifestyle' mall in Philippines

Megaworld Corp. is poised to open the Festive Walk Mall, worth 2.2 billion Philippine pesos, in the 72-hectare Iloilo Business Park in Philippines' Iloilo City in April.

The "lifestyle" mall will be the company's first outside Luzon, Philippines. Spanning 90,000 square meters of gross floor area, it will feature three stories of shopping, dining, entertainment, leisure and other offerings. It will also include over 1,000 parking spaces.

The property's anchor tenants will include a supermarket, a department store, a home essentials store, a toy store and a food hall. The mall will also house government offices and medical and wellness facilities.

As of Feb. 2, US$1 was equivalent to 51.69 Philippine pesos.