Megaworld Corp. said its 30-hectare Mactan Newtown township in Lapu-Lapu City, Cebu, has been designated the city's "Tourism, Culture, and Investment Capital" under an executive order signed by Mayor Ma. Cynthia "Cindi" Chan.

In a statement issued on Tuesday, the listed property developer said the designation was granted through Executive Order No. 2026-072, which recognizes the township's role in tourism, cultural activities, and business investment in the city.

Under the order, Megaworld and the Lapu-Lapu City government are expected to coordinate with public and private stakeholders on programs covering tourism, culture, investment, and employment.

Lapu-Lapu City sits on Mactan Island, a coastal destination known for its beach resorts and dive sites and home to the Mactan-Cebu International Airport, the main airport serving Cebu.

Megaworld President and Chief Executive Officer Lourdes Gutierrez-Alfonso said the designation was consistent with the company's plans for the township.

"This recognition affirms our continuing vision for The Mactan Newtown as an integrated township that demonstrates how tourism, culture, and investments can come together to unlock a city's potential, create more opportunities for its people, and strengthen its position as a destination for both visitors and businesses," she said.

The Mactan, one of the integrated townships Megaworld has developed across the Philippines, is a mixed-use development comprising residential condominiums, office buildings, hotels, retail establishments, and recreational facilities. Its commercial lineup includes Gordon Ramsay Fish & Chips and Gordon Ramsay Street Burger, while its hotels include Savoy Hotel Mactan Newtown and Mercure Mactan Cebu.

The township also houses Mactan Expo, a convention facility that, according to Megaworld, hosted delegates during the 48th Association of Southeast Asian Nations (ASEAN) Summit earlier this year. The company said the development has also staged events such as the Cebu Mangoes Festival, Ironman 70.3 Mactan, and the Cebu Lechon Festival.

Megaworld added that the planned Mactan World Museum would provide an additional cultural attraction once it opens, although the company did not specify an opening date. The museum's opening timeline and how the joint programs under the executive order take shape will be the details to watch as the designation takes effect.

Shares in Megaworld closed at P2.22 apiece on Tuesday, down 0.45%, or one centavo. — Alexandria Grace C. Magno