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Tag: Megaworld

  • Megaworld aims to launch 13 malls in three years

    Megaworld aims to launch 13 malls in three years

    Property developer Megaworld Corp says it plans to open 13 malls in the next three years in line with its target to hit 28 by 2020.

    It already has 13 malls across the Philippines, with Southwoods Mall about to open in Laguna.

    Megaworld Lifestyle Malls head/senior VP Kevin Tan says the Southwoods Mall covers 58,000sqm in Megaworld’s only fully integrated township, Southwoods City. The 561ha township is at the boundaries of Binan, Laguna and Carmona, Cavite, and is the largest township in the country to feature a golf course.

    There is also a CBD, commercial and retail stores, malls, schools, church, a cyberpark, a medical centre, parks, leisure activities, a weekend market and a transport hub.

    Megaworld is a property unit of magnate Andrew Tan under his conglomerate Alliance Global Group.

  • Megaworld Corporation income jumps 11 per cent

    Megaworld Corporation income jumps 11 per cent

    Property giant Megaworld Corporation, which specialises in developing integrated urban townships, achieved first-half net income of PHP6.69 billion (US$130.4 million), an 11 per cent improvement on the same period last year.

    Rental income drove its earnings for the period.

    Megaworld’s rental business, which includes malls and commercial centers, saw its income soar 20 per cent to PHP5.83 billion.

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  • New Skycrapers from Megaworld

    New Skycrapers from Megaworld

    Philippine property developer Megaworld Corp and its subsidiaries have earmarked P55 billion (US$1.172 billion) for capital spending in 2016 to boost commercial assets.

    Real estate tycoon Andrew Tan’s flagship property arm and subsidiaries Global-Estate Resorts (GERI), Empire East Holdings and Suntrust Properties have announced plans to aggressively expand a group-wide rental portfolio.

    The company said 75 per cent of the budget will be used for development projects, particularly for the construction of new malls, commercial centers, office buildings and residential projects in townships. The remaining 25 per cent will be used for land acquisition and investment properties.

    “This year, we would start developing our new townships in Pasig City, Bacolod and Pampanga while ramping up our office and mall developments across our existing townships. We are bullish on the office and retail sectors because we see a remarkable growth in these businesses,” Megaworld senior VP Jericho Go said in a press statement.

    The spending budget this year matches the same level earmarked for 2015.

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