Megaworld doubles Mactan investments

Manila Standard Today - Condominium builder Megaworld Corp. said Wednesday it is doubling its investments in a 16-hectare township project in Mactan, Cebu to P20 billion to transform the property into a mixed-use development.

In the next seven years, we are investing P20 billion in this township to build luxury residential condominiums, office towers, a world-class lifestyle mall, our very own Richmonde Hotel and soon a sports and leisure facility, Megaworld chairman and chief executive Andrew Tan said in a statement.

Tan issued the statement during the project's formal inauguration attended by President Benigno Aquino Ill.

Megaworld last year launched two residential condominiums, which have been sold out mostly to Japanese retirees. A new residential cluster is scheduled to be launched this year.

The property company also completed the construction of a five-story office building that will house two business process outsourcing companies, EnfraUSA and Results Manila.

We have fully leased out One World Center, so we will be starting the construction of our second BPO tower, Two World Center, this year. It will accommodate an additional 2,000 workers. We hope to have it ready by first quarter of next year as several big BPO companies are already lining up to lease, said Jericho Go, first vice president for business development and leasing group of Megaworld.

More office spaces over the next two to three years will be available for lease with the construction of two office towers that could accommodate around 13,000 BPO seats.

We see the Mactan Newtown as a major driver of growth for Lapu Lapu City and Cebu in general in terms of job opportunities, sports and recreation, retail shopping and of course, tourism,” Tan said.

Megaworld currently has big projects in Metro Manila. These are Eastwood City in Libis, McKinley Hill in Fort Bonifacio, Newport City in Villamor Airbase, Cityplace in Chinatown, Forbes Towncenter also in Fort Bonifacio, and Manhattan City Garden in Cubao.

Megaworld earlier said it would spend P35 billion this year and launch 10 residential projects during the first half of the year.

Megaworld booked P63.5 billion in reservation sales last year, which was equivalent to 550,000 square meters of saleable area. The 2012 reservation sales figure was 71 percent higher compared to a year ago.

The real estate reservation sales came from the three brands, including Megaworld, Empire East Land and Suntrust. Each of the brands caters to specific markets ranging from the luxury to middle income to affordable segments.

For latest information on the Philippine Real Estate Industry and the Real Estate Service Act (RA9646), please visit www.ra9646.com.ph.   

Megaworld eyes P1.8-b revenue

Megaworld Corp., the property unit of business tycoon Andrew Tan, aims to generate P1.8 billion in revenues from the newly-launched residential tower within the central business district of Makati.

Megaworld head of sales and marketing for Makati Eugene Lozano said during the launching of Paseo Heights the project was 40 percent sold after a soft selling conducted late last year.

The 30-story Paseo Heights will have a total of 320 units consisting of studio and two-bedroom units.
A typical studio unit with sizes ranging from 30 to 35 square meters costs P3.3 million, while a two-bedroom unit with sizes ranging from 90 to 95 square meters costs up to P10 million.

For more details on Megaworld's Paseo Heights, you may contact Reby Ramirez: 0922.883.9308 / 0916.4044.555 / 0919699.3572 or reby_ramirez@yahoo.com.

For latest information on the Philippine Real Estate Industry and the Real Estate Service Act (RA9646), please visit www.ra9646.com.ph.   

Alliance Global profits up 41%

MALAYA - Alliance Global Group, Inc. (AGI), said profit last year reached P20.8 billion, 41 percent higher than the previous year’s P14.7 billion.

“This is the first time we have breached the P20B net profit level.  It only highlights the underlying strength of our various businesses,from consumer and property to BPO and Tourism,all growth drivers of the Philippine economy,” said Andrew Tan, AGI chirman.

Core net income acrruiing to AGI shareholders reached P13.6 billion, 60 percent higher than the previous year’s P8.5 billion.

AGI said the growth was led by its main subsidiaries Megaworld Corp. Emperador Distillers, Inc. and Travellers International Hotel Group, Inc. which collectively contributed 90 percent of the conglomerate’s net profit.

“Megaworld set another record profit in 2012 when its net profit attributable to shareholders reached P7.3 billion up 21 percent from the P6 billion registered in 2011.  Last year,Megaworld, together with its subsidiaries sold over P63 billion in reservation sales with over 12,000 residential units,” AGI said.  Megaworld posted rental income of P5 billion in 2012,a 31 percent increase from P3.8 billion in 2011.  

Megaworld earlier disclosed plans to double its rental income to P10 billion over the next 5 years.

“We are optimistic about the property sector, and we expect sustained growth momentum in our two main business segments, which are residential and BPO office developments,” said Tan.
Emperador, AGI’s liquor arm and its wholly-owned subsidiary, meanwhile posted a 117 percent growth in net income at P5 billion up from P2.3 billion in 2011.

“The growth came from increased sales of the world’s best-selling brandy,Emperador, which sold over 31 million cases last year mostly under the product,Emperador Light,” AGI said.

Travellers,operating under the brand of Resorts World Manila,is the first and largest integrated tourism development in the country.  The company enjoyed another record year with net profit reaching P6.73 billion up 39 percent from P4.84 billion in 2011.  Net profit attributable to AGI shareholders grew to P3.12 billion from P2.21 billion in 2011.

In the 2nd quarter of 2013, Travellers will commence development on the 3rd phase of Resorts World Manila, which comprises 2 new hotels, under the Sheraton and Hilton international brands as well as the expansion of the existing Maxims and Marriott Hotels.

For latest information on the Philippine Real Estate Industry and the Real Estate Service Act (RA9646), please visit www.ra9646.com.ph.