Category: Megaworld

Megaworld sets P285.8-B CAPEX until 2019

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Property giant Megaworld, the country’s leading developer of integrated urban townships and the no. 1 business process outsourcing (BPO) office landlord and developer, is allocating P285.8-billion for its 5-year capital spending program until 2019 to develop its various townships all over the country. The new capital expenditure (CAPEX) is a new adjustment to capital spending as it supersedes the five-year CAPEX of P230-billion that was announced last year.

“We have adjusted our capital spending to pave the way for the expansion of offerings in our existing townships and for the new additional township projects that we recently announced,” says Francisco Canuto, senior vice president and corporate information officer, Megaworld.

At the start of 2015, Megaworld announced that it is aggressively expanding its township footprint across the country with an additional five to be launched this year. The company ended 2014 with 15 township developments launched namely: Eastwood City in Quezon City (18.5 hectares), which holds the distinction of being the country’s first cyberpark; Newport City in Pasay City (25 hectares), which is the home of Resorts World Manila; McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town Center (5 hectares), all in Fort Bonifacio; The Mactan Newtown in Cebu (28.8 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Boracay Newcoast in Boracay Island (150 hectares) and Twin Lakes in Tagaytay (1,300 hectares) of Global-Estate Resorts, Inc. (GERI), a subsidiary of Megaworld; as well as Woodside City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Pinas City (62 hectares); and Suntrust Ecotown in Tanza, Cavite (350 hectares) that were launched only last year.

“Certainly, we have sufficient land bank and landholdings that will sustain our plans to further expand and grow our townships all over the Philippines. While we continue to create and expand our mixed-use communities in Metro Manila, we will also expand our presence in the provinces especially in major growth centers,” adds Canuto.

This year, Megaworld is allocating P65-billion pesos to build more residential and hotel projects, office buildings as well as malls and commercial centers inside its integrated urban townships.Seventy-four percent (74%) of capital spending for the year will be for development projects, mostly in townships, while 26% will be for land acquisition and property investments.

The Megaworld Group, which also includes its subsidiaries Suntrust Properties, Inc., Empire East Land Holdings, Inc. and Global-Estate Resorts, Inc., is set to launch 22 residential projects in Metro Manila, Laguna, Batangas, Boracay, Iloilo and Bacolod.

The group is also launching three (3) hotel towers in Boracay Newcoast, ten (10) office towers in McKinley West, McKinley Hill, Eastwood City, Woodside City, Davao Park District and Southwoods City and three (3) malls and commercial centers across its townships all over the country.

Megaworld sets P285.8-B CAPEX until 2019

PRNEWS Admin Leave a comment

Property giant Megaworld, the country’s leading developer of integrated urban townships and the no. 1 business process outsourcing (BPO) office landlord and developer, is allocating P285.8-billion for its 5-year capital spending program until 2019 to develop its various townships all over the country. The new capital expenditure (CAPEX) is a new adjustment to capital spending as it supersedes the five-year CAPEX of P230-billion that was announced last year.

“We have adjusted our capital spending to pave the way for the expansion of offerings in our existing townships and for the new additional township projects that we recently announced,” says Francisco Canuto, senior vice president and corporate information officer, Megaworld.

At the start of 2015, Megaworld announced that it is aggressively expanding its township footprint across the country with an additional five to be launched this year. The company ended 2014 with 15 township developments launched namely: Eastwood City in Quezon City (18.5 hectares), which holds the distinction of being the country’s first cyberpark; Newport City in Pasay City (25 hectares), which is the home of Resorts World Manila; McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town Center (5 hectares), all in Fort Bonifacio; The Mactan Newtown in Cebu (28.8 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Boracay Newcoast in Boracay Island (150 hectares) and Twin Lakes in Tagaytay (1,300 hectares) of Global-Estate Resorts, Inc. (GERI), a subsidiary of Megaworld; as well as Woodside City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Pinas City (62 hectares); and Suntrust Ecotown in Tanza, Cavite (350 hectares) that were launched only last year.

“Certainly, we have sufficient land bank and landholdings that will sustain our plans to further expand and grow our townships all over the Philippines. While we continue to create and expand our mixed-use communities in Metro Manila, we will also expand our presence in the provinces especially in major growth centers,” adds Canuto.

This year, Megaworld is allocating P65-billion pesos to build more residential and hotel projects, office buildings as well as malls and commercial centers inside its integrated urban townships.Seventy-four percent (74%) of capital spending for the year will be for development projects, mostly in townships, while 26% will be for land acquisition and property investments.

The Megaworld Group, which also includes its subsidiaries Suntrust Properties, Inc., Empire East Land Holdings, Inc. and Global-Estate Resorts, Inc., is set to launch 22 residential projects in Metro Manila, Laguna, Batangas, Boracay, Iloilo and Bacolod.

The group is also launching three (3) hotel towers in Boracay Newcoast, ten (10) office towers in McKinley West, McKinley Hill, Eastwood City, Woodside City, Davao Park District and Southwoods City and three (3) malls and commercial centers across its townships all over the country.

Megaworld sets P285.8-B CAPEX until 2019

PRNEWS Admin Leave a comment

Property giant Megaworld, the country’s leading developer of integrated urban townships and the no. 1 business process outsourcing (BPO) office landlord and developer, is allocating P285.8-billion for its 5-year capital spending program until 2019 to develop its various townships all over the country. The new capital expenditure (CAPEX) is a new adjustment to capital spending as it supersedes the five-year CAPEX of P230-billion that was announced last year.

“We have adjusted our capital spending to pave the way for the expansion of offerings in our existing townships and for the new additional township projects that we recently announced,” says Francisco Canuto, senior vice president and corporate information officer, Megaworld.

At the start of 2015, Megaworld announced that it is aggressively expanding its township footprint across the country with an additional five to be launched this year. The company ended 2014 with 15 township developments launched namely: Eastwood City in Quezon City (18.5 hectares), which holds the distinction of being the country’s first cyberpark; Newport City in Pasay City (25 hectares), which is the home of Resorts World Manila; McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town Center (5 hectares), all in Fort Bonifacio; The Mactan Newtown in Cebu (28.8 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Boracay Newcoast in Boracay Island (150 hectares) and Twin Lakes in Tagaytay (1,300 hectares) of Global-Estate Resorts, Inc. (GERI), a subsidiary of Megaworld; as well as Woodside City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Pinas City (62 hectares); and Suntrust Ecotown in Tanza, Cavite (350 hectares) that were launched only last year.

“Certainly, we have sufficient land bank and landholdings that will sustain our plans to further expand and grow our townships all over the Philippines. While we continue to create and expand our mixed-use communities in Metro Manila, we will also expand our presence in the provinces especially in major growth centers,” adds Canuto.

This year, Megaworld is allocating P65-billion pesos to build more residential and hotel projects, office buildings as well as malls and commercial centers inside its integrated urban townships.Seventy-four percent (74%) of capital spending for the year will be for development projects, mostly in townships, while 26% will be for land acquisition and property investments.

The Megaworld Group, which also includes its subsidiaries Suntrust Properties, Inc., Empire East Land Holdings, Inc. and Global-Estate Resorts, Inc., is set to launch 22 residential projects in Metro Manila, Laguna, Batangas, Boracay, Iloilo and Bacolod.

The group is also launching three (3) hotel towers in Boracay Newcoast, ten (10) office towers in McKinley West, McKinley Hill, Eastwood City, Woodside City, Davao Park District and Southwoods City and three (3) malls and commercial centers across its townships all over the country.

Megaworld 2014 net income soars 139% to P21.6-billion

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Megaworld, the Philippines’ leading integrated urban township developer and biggest office developer and landlord, posted a net income of P21.6-billion (inclusive of P12.1-billion non-recurring gain) in 2014, 139% higher than in 2013. Without non-recurring gain, net income went up by 14% to P9.4-billion last year – reflecting an 18% annual growth since 2009 when net income was P4-billion, or more than double in a span of only five years.

Consolidated revenues, excluding non-recurring gain, rose by 15% to P41-billion with real estate sales increasing by 16% year-on-year to P24.6-billion and rental income growing by 17% to P7-billion.

“Last year was a milestone for us. With Megaworld celebrating its 25th anniversary, we raked in record earnings and managed to grow our land bank to over 4,000 hectares. Our income growth last year was driven by both real estate sales and rental income. We have a more diversified real estate sales mix that is propelled by our integrated urban township developments in Metro Manila, Cebu and Iloilo as well as tourism-related projects in Tagaytay and Boracay,” said Dr. Andrew L. Tan, chairman and CEO, Megaworld.

“In the meantime, our rental income is growing in line with our expectations. Continued growth in our office and mall leasable space will provide the catalyst for exceeding P10-billion in rental income in 2016. Last year also saw the consolidation of Global-Estate Resorts, Inc. (GERI), Empire East Land Holdings, Inc. (ELI) and Suntrust Properties, Inc. (SPI) under Megaworld. This enabled us to strengthen our land bank nationwide,” he added.

“We expect to maintain similar growth momentum generated in the past, achieving a double-digit net income growth every year on the back of a stronger and bigger township portfolio,” he also noted.

Five townships that were launched last year and another five townships to be launched this year will increase the company’s township developments to 20 by the end of 2015.

Last year, the company launched the following townships: Woodside City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Pinas City (62 hectares) and Suntrust Ecotown in Tanza, Cavite (350 hectares).

Just last week, the company announced two of the five township developments lined up for this year: The Upper East (34 hectares) and Northill Gateway (50 hectares), both in Negros Occidental.

Megaworld’s pioneering “LIVE-WORK-PLAY-LEARN” concept for integrated mixed-use communities, or commonly known as townships in the Philippines, has enabled the company to complete 342 buildings with a total area of 6.4 million square meters over the past 25 years.

Megaworld to invest P35B for two townships in Bacolod

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Megaworld, the country’s leading developer of integrated urban townships and the biggest office developer and landlord, is investing P35-billion in the next 10 years to build two townships in Negros Occidental.

The first township, to be called THE UPPER EAST, is located on a 34-hectare property that used to be the Bacolod-Murcia Milling Company (BMMC) on the eastern side of Bacolod City. It is bounded by Burgos Avenue on the north, Lopez Jaena Street on the west and Circumferential Road on the east and is just across the New Government Center. This prime location, which the locales simply refer to as “East,” is now known to be Bacolod’s booming commercial and business process outsourcing (BPO) district.

Inspired by New York City’s affluent Upper East Side district, THE UPPER EAST will be Bacolod’s own version of an upscale lifestyle district where residential condominiums, malls and commercial centers, BPO office towers, tourism and leisure facilities as well as recreational parks and open spaces are integrated to create an exciting LIVE-WORK-PLAY township, which Megaworld pioneered in the Philippines.

“Finally, the people of Bacolod and Negros will be able to experience what we have offered in Eastwood City, Newport City and McKinley Hill. We are very excited to bring our pioneering LIVE-WORK-PLAY concept to the City of Smiles. We will build THE UPPER EAST with a vision of making it as Bacolod’s new central business district or CBD,” says Jericho P. Go, senior vice president, Megaworld.

On the northern part of Bacolod, where the famous Sugar Road was built, the second township will soon rise and will be called NORTHHILL. It is located on a 50-hectare property along the new Circumferential Road on the boundary of Talisay City and Bacolod City that has direct access to the new Bacolod-Silay Airport.

A joint development of Megaworld and its wholly owned subsidiary Suntrust Properties, Inc. in partnership with the Lacson Family, NORTHHILL will rise in an area that has a direct link to THE UPPER EAST via the Circumferential Road. It is envisioned to be a refreshing lifestyle district that will house upscale residential villages, mixed-use office and retail developments, leisure and recreational amenities as well as institutional facilities.

“Just as what we have done with our other developments, we will transform the sugarcane fields into a bustling new district. Within five to ten years, we envision this area to be the most sought-after business and lifestyle address for Negrenses,” adds Go.

Once completed, the two integrated urban townships will generate around 250,000 direct and indirect jobs in BPO, construction, transportation, commercial and retail businesses.

“We are still finalizing the master plans of the two townships. But one thing for sure, we will be able to provide thousands of jobs to the people of Negros once these two developments are completed,” says Go.

THE UPPER EAST and NORTHHILL are just two of the five township developments that Megaworld is launching this year. Just recently, the company announced that it is aggressively expanding its township portfolio across the country from 15 to 20 with a total township land area of 3,100 hectares by the end of the year.