MEGAWORLD Corp., the listed property vehicle of businessman Andrew Tan, is expanding its township portfolio this year with another five township projects to be launched covering a total of 400 hectares.
Megaworld said the five townships will include two in Luzon, two in the Visayas and one in the Mindanao Region—bringing its township count to 20 from 15 previously.
With the additional 400 ha, the property firm expects to close the year with a total township land area of 3,100 ha from the current 2,700 ha.
Around 80 percent of Megaworld’s total land portfolio of some 4,000 ha is devoted to mixed-use communities with combined residential, office and retail components.
“With our adequate land bank and landholdings, the Megaworld Group is growing its townships to even more cities all over the Philippines. This means, more exciting destinations, more homes to be built, more office buildings to be offered and more jobs for Filipinos,” said Tan, Megaworld chairman and chief executive officer.
“Our vision is to build more world-class townships in every major city in the Philippines year after year,” he added.
“We still have more lands to develop in our portfolio. Our various groups are working hard to come up with unique concepts and ideas on how we will create more sustainable communities across the country,” he added.
Last year, Megaworld launched five townships covering a total of 1,000 ha of land. These include the 12.3-ha Woodside City in Pasig City; the 561-ha Southwoods City at the boundaries of Cavite and Laguna; the 11-ha Davao Park District in Lanang, Davao City; the 62-ha Alabang West in Las Pinas City; and the 350-ha Suntrust Ecotown in Tanza, Cavite.
The company’s notable townships include the 18.5-ha Eastwood City in Quezon City and the 50-ha McKinley Hill, 34.5-ha McKinley West and 15.4-ha Uptown Bonifacio, all in Fort Bonifacio. KRISTYN NIKA M. LAZO
Megaworld grew its nine months to September 2014 net income by 192 percent to P19.03 billion from 6.52 billion a year earlier, boosted by an P11.6 billion one-off gain from the acquisition and sale of a subsidiary and associates.