PROPERTY developer Megaworld is set to launch six more townships this year until 2020.
This will bring the company’s township portfolio to 30 by next year.
These new developments will cover an expansive land area of around 2,000 hectares. Most of these are from new land acquisitions carried by Megaworld Group’s land banking efforts during the last five years.
Five of these new expansive townships and lifestyle communities are in Luzon, while one is in Mindanao.
“Currently, we have a little over 4,000 hectares of both developed and developable land. By next year, we will increase our land ownership and land holding to more than 6,000 hectares as we continue to focus on our goal to expand to key growth areas in the provinces; help boost tourism, provide jobs and further spur economic opportunities outside of Metro Manila,” said Kevin Tan, Megaworld’s chief strategy officer.
At present, Megaworld already has 24 townships and lifestyle communities spread across the country: nine in Metro Manila, which include Eastwood City, McKinley Hill, Forbes Town, McKinley West, Uptown Bonifacio, Newport City, Alabang West, Westside City and Arcovia City; eight in Luzon, which include Capital Town Pampanga, Eastland Heights, Twin Lakes, Southwoods City, Suntrust Ecotown, Maple Grove, Hamptons Caliraya and Highland City; six in the Visayas, which include The Mactan Newtown, Iloilo Business Park, Boracay Newcoast, The Upper East, Northill Gateway and Sta. Barbara Heights; and one in Mindanao, the Davao Park District.
Megaworld said its net income grew by 18 percent to P4.1 billion in the first quarter of 2019 from P3.5 billion during the same period last year.
Net income attributable to the parent company ended at P3.8 billion during the period this year, growing 16 percent from P3.3 billion last year. The company’s double-digit growth in earnings was backed by strong outputs from each of its core businesses: residential sales, leasing from offices and lifestyle malls, as well as hotel operations.
The Megaworld Group is composed of mother company Megaworld Corp. and its subsidiaries Global-Estate Resorts Inc., Empire East Land Holdings Inc. and Suntrust Properties Inc. (PR)