Megaworld, the country’s largest developer
of integrated urban townships, saw its net income grow by 17% to P15.8-billion in
2018 from P13.6-billion (excluding P113-million non-recurring gain) the
previous year. Net income attributable to parent company ended at P15.2-billion
by end-December 2018, a 17% jump from P13.0-billion in 2017 (excluding
P113-million non-recurring gain).
Consolidated revenues grew about 15% to
P57.4-billion in 2018 from the previous year’s P50-billion (excluding
P113-million non-recurring gain).
The company’s rental businesses, comprising
of office and lifestyle mall leasing, strongly contributed to the topline,
soaring 21% to P14.3-billion in 2018 from the previous year’s P11.8-billion. This
contributed 25% of the total consolidated revenues during the year.
In 2018 alone, Megaworld has already
achieved over 70% of its rental income target of P20-billion by end of next
year.
Last year, Megaworld opened its biggest
mall development outside of Metro Manila, the Festive Walk Mall in Iloilo
Business Park, offering around 90,000 square meters in gross floor area. It
also opened two new community malls – the San Lorenzo Place in Makati City, and
The Village Alabang in Las Piñas City.
Also last year, the company closed a
historic deal in Philippine real estate when it bagged the long-term lease
contract to build the 25-storey Philippine Global Service Center of JPMorgan
Chase Bank, N.A. It was regarded as the country’s biggest single lease
transaction to date, with around 70,000 square meters of ‘build-to-suit’ office
spaces for a single company alone.
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| Twin Lakes Hotel in Tagaytay (Photo: Megaworld Corporation Facebook page) |
“We have already secured multiple pre-lease deals for our office buildings as well that are in the pipeline until next year. Same goes to our mall and commercial spaces that are set to open in our various townships. For our residential properties, we continue to see strong take-up especially in our mature townships, and there is already a consistently growing interest in our newly-launched townships,” says Kevin L. Tan, chief strategy officer, Megaworld.
Megaworld’s residential business, on the
other hand, saw a double-digit growth of 11.5% in 2018 to P38.0-billion from P34.1-billion
during the same period the previous year. This contributed to 66% of the total
consolidated revenues during the year.
The Megaworld Group launched 25 residential
projects in 2018, with a total sales value of around P106-billion. The company
also achieved P135-billion worth of sales reservation during the year.
Megaworld’s hotel business, likewise, grew
its revenues by about 14% to P1.5-billion compared to P1.3-billion in 2017. The
company launched two new hotels last year: the 684-room Savoy Hotel Manila in
Newport City, and the 126-room Twin Lakes Hotel in Twin Lakes, Laurel,
Batangas. This brought the number of Megaworld Hotels to seven (7) by end-2018.
“We have gained the fruits of our expansion
in the regions as we saw continuing growth in the demand for residential units
as well as office and commercial spaces in our various townships across the
country. Perhaps, as we build these townships, people saw the advantage of
living where they work, and living where everything is just within reach. This
model makes every aspect of our business viable and expandable, and we continue
to spot for opportunities where we can further grow and innovate our offerings,”
explains Tan.
Just several weeks ago, together with its
subsidiary Empire East Land Holdings, Inc., Megaworld introduced its 24th
township, the 24-hectare Highland City along F. Felix Avenue in Cainta, Rizal.
It allocated P20-billion to develop the township within a 10-year period.
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| Iloilo Business Park |
Over the last 30 years, the Megaworld Group
has expanded its township developments across the Philippines that include: Eastwood
City in Libis, Quezon City, (18.5 hectares); Newport City in Pasay City (25
hectares); McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown
Bonifacio (15.4 hectares) and Forbes Town (5 hectares), all in Fort Bonifacio,
Taguig City; The Mactan Newtown in Lapu-Lapu City, Cebu (30 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Sta. Barbara Heights in
Sta. Barbara, Iloilo (173 hectares); Boracay Newcoast in Boracay Island (150
hectares); Twin Lakes in Batangas near Tagaytay (1,300 hectares); ArcoVia 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 Piñas City (62 hectares); Eastland Heights in Antipolo,
Rizal (640 hectares); Suntrust Ecotown in Tanza, Cavite (350 hectares); Maple
Grove in General Trias, Cavite (140 hectares); The Hamptons Caliraya in Lumban-Cavinti,
Laguna (300 hectares); The Upper East (34 hectares) and Northill Gateway (50
hectares) both in Negros Occidental; Capital Town Pampanga beside the Pampanga
Provincial Capitol in the City of San Fernando (35.6-hectares); and Westside
City in the Entertainment City in Paranaque City (31 hectares.) ###
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