ILOILO CITY — A new two‑level retail addition is set to rise between Festive Walk Mall and Richmonde Hotel Iloilo, and it will carry a brand that has never before appeared on Panay Island. Megaworld Corporation confirmed in February 2026 that it is expanding its flagship lifestyle mall within the 72‑hectare Iloilo Business Park to accommodate Landers Superstore, the country's fastest‑growing membership shopping chain. The expansion is part of a ₱10‑billion retail push embedded in Megaworld's ₱65‑billion capital expenditure program for the year.
Landers Iloilo will be the fifth branch to open within a Megaworld township, following Alabang West Parade, Arcovia City, Uptown Bonifacio, and The Upper East in Bacolod City. It brings an extensive selection of local and imported goods, fresh produce, and private labels to the city.
A Retail Anchor That Validates a Township's Maturity
Graham Coates, head of Megaworld Lifestyle Malls, framed the expansion as a response to rising consumer demand. "Stronger consumer spending continues to drive demand for quality commercial space, particularly in key growth centers where our townships are located. This allows us to expand our leasing portfolio while introducing new lifestyle concepts that enhance the overall value proposition of our developments," he said.
The Landers lease represents the single largest retail space commitment inside Iloilo Business Park outside of the existing Festive Walk Mall footprint. For a township that already hosts 13 office towers, three hotels, and a convention center, the arrival of a membership‑based hypermarket signals that the residential population and surrounding catchment have reached a density that justifies a big‑box anchor.
The Panay Island First That Changes Shopping Behavior
Landers Iloilo will be the first branch on Panay Island. Its membership model—offering regular discounts, sale events, free haircuts at Federal Barbers, pharmacy services, discounted fuel at Caltex stations, and in‑house dining at Doppio coffee shop and Landers Central diner—introduces a retail format that the local market has not previously had at this scale.
The store will also offer online shopping through its portal and app, with same‑day delivery. For the township's residents, the addition means grocery runs, pharmacy visits, and weekend family meals can now happen within walking distance. For Megaworld, the Landers lease strengthens the recurring income base that underpins its real estate investment trust, MREIT Inc., as the company targets one million square meters of gross leasable area by 2027.
A 2026 Capex Program Built Around Provincial Growth
The Landers expansion forms part of a broader retail rollout that includes Capital Mall in Pampanga, Northwin Global Concourse in Bulacan, Maple Grove Mall in Cavite, and The Upper East Mall in Bacolod City. Across the portfolio, Megaworld is adding more than 150,000 square meters of gross floor area to its existing retail inventory of over 500,000 square meters.
Iloilo Business Park has become the template for this provincial expansion. The township's office market now commands 48 percent of Iloilo City's total, with occupancy rates above the industry average. Residential take‑up in the city has reached 96 percent. The addition of Landers—the first of its kind on the island—adds a retail anchor that both serves and attracts the growing population of residents, office workers, and tourists.
