Category: Megaworld

Megaworld partners with Indesit for energy-saving home appliances in Three Central

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Megaworld has partnered with leading European home lifestyle brand company, Indesit, to fulfill its commitment to deliver world-class condominium living experience in Three Central located at Valero Street in Salcedo Village, Makati CBD.

The Italy-based Indesit is one of the largest and best-selling appliance brands in Europe with yearly sales of 13 million appliances worldwide. This unique collaboration will bring specially designed energy-saving built-in kitchen appliances in every unit of Three Central.

This 50-storey residential masterpiece will soon rise as an iconic tower with light blue glass and concrete, taking cues from the elegant architecture inspired by the Hong Kong’s famous International Finance Center (IFC).

Photo shows (from left) Eugene Em Lozano, vice-president for sales and marketing for Makati CBD, Megaworld; and Dino Catena, Asia Pacific Managing Director, Indesit.

Megaworld’s GERI profit up 151% in 2014

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Just a year after its majority acquisition by Megaworld, Global-Estate Resorts Inc. (GERI), the Philippines’ leading tourism estate developer, posted a 151% growth in its net income last year from P341 million in 2013 to P857 million (inclusive of P377 million non-recurring gain) in 2014. Without non-recurring gain, its net income rose to P480 million, a 41% increase year-on-year and almost double growth than in 2012 when its net income was P264 million.

Total revenues of GERI in 2014 almost doubled last year – from P1.71 billion in 2013 to P3.36 billion in 2014, or around 97% growth year-on-year.

This remarkable growth was attributed to real estate sales that accounted to around P2.04-billion, up 139% from P856 million in 2013, due to robust sales of residential projects in Southwoods City and Alabang West.

Last year, the company has launched five (5) projects: Pahara at Southwoods and Holland Park Tower 1 in Southwoods City; Alabang West Village; The Vineyard Residences – Shiraz Tower in Twin Lakes; and Sta. Barbara Heights Phase III in Iloilo.

“GERI has again set the bar by achieving another banner year. This year will be another exciting year for GERI and we expect continuing growth in the company’s revenues as we launch more projects in the coming years,” says Lailani Villanueva, chief finance officer, Global-Estate Resorts, Inc.

At present, GERI has five (5) major developments across the country covering more than 2,200 of Boracay Newcoast in Boracay Island (150 hectares); Twin Lakes in Laurel, Batangas near Tagaytay (1,300 hectares); Southwoods City on the boundaries of Carmona, Cavite, and Biñan, Laguna (561 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (170 hectares); and Alabang West (62 hectares).

In May last year, Megaworld announced the purchase of the 49.20% stake of Alliance Global Group, Inc. (AGI) in GERI for P10.43 billion. Today, Megaworld owns 80% of GERI and it has taken an aggressive role in transforming GERI’s vast land bank into integrated urban townships, the concept that Megaworld pioneered in the Philippines.

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

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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.