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Megaworld Corporation
...BPO pa din

Megaworld pins hope on BPOs to drive demand

MEGAWORLD Corp. on Monday said it expects to have one million square meters (sq.m.) of office space inventory by the end of 2017, as the property developer remains confident the business process outsourcing (BPO) sector will continue to drive demand.

“When we reach one million, it will continue to be driven by BPO still… So traditional offices and BPO, that will be the main driver for offices,” Megaworld Senior Vice-President for Business Development and Leasing Jericho P. Go said in a press briefing in Taguig City on Monday.

The property firm of tycoon Andrew L. Tan currently has an office stock of 888,500 sq.m., with another 111,5000 sq.m. scheduled for delivery by year end. These office buildings will rise in McKinley Hill in Taguig, Southwoods City in Laguna, Davao Park District, and Iloilo Business Park.

Megaworld’s statement comes amid industry reports showing a slowdown in investments of BPO firms in the Philippines, which in turn has led to a drop in office space take-up.

In a report issued by Colliers International Philippines on Monday, the property consulting firm said the BPO sector accounted for only 31% of total demand for office space in the second quarter, from an average of 60-70% recorded in recent years.

“The reasons for that are hard to quantify. The most cited factors are the lurch to economic nationalism in the United States, led by President (Donald J.) Trump’s anti-outsourcing stance and a perceived decline in the peace and order situation in the Philippines associated with extrajudicial killings,” Colliers Managing Director David A. Young wrote in the report.

In contrast, Mr. Go said the demand for office space in Megaworld’s townships continue to grow, noting a 99% occupancy rate in their developments.

“We’ve always said, until now we are still 99% occupied in our offices. The 1% are essentially the smaller spaces that have been vacated by companies that have decided either to consolidate, to put up their own building,” he said.

Mr. Go further cited the current surge in demand coming from online gaming firms, otherwise known as Philippine Online Gaming Operators (POGO). These companies are expected to lease more office space, primarily for back office and support operations such as IT and technical support, customer services, and financial services.

“We are the first, if not among the first, to see the potential of this segment in office rental. Our expertise in office development allows us to efficiently cater to the needs of POGOs. While only 8% of our total inventory caters to POGOs, we continue to see a bright spot for growth in this segment,” Mr. Go said.

Asked how much office space POGOs are expected to take up by the end of the year, Mr. Go said it could reach up to 10%.

“If POGOs were to reach 10% or a little more than that, that won’t be a problem. Currently out of almost 900,000 sq.m., close to 80,000 sq.m. is POGO already, it will be on that range,” he said.

Megaworld looks to book P7.2 billion in office rentals this year, out of the total P12 billion net income projected for the company. By 2020, income contributions from the office leasing segment is expected to reach around P10 billion to P12 billion.

The company’s attributable profit climbed 10.8% in the first half of 2017 to P6.4 billion due to the positive performance of its office developments.


http://bworldonline.com/megaworld-pins-h...ve-demand/
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...press release

Megaworld to turn over 1,000 units in Makati this year

MEGAWORLD CORP. is set to complete the turnover of P9 billion worth of residential condominium units inside the Makati Central Business District (CBD) this year.

In a statement issued Thursday, the property developer led by tycoon Andrew L. Tan said this is equivalent to over 1,000 residential units in the country’s largest business district.

“We have started the turnover process middle of this year and our goal is to complete this at the soonest possible time,” Megaworld First Vice-President for Sales and Marketing for Makati CBD Eugene Em Lozano was quoted as saying in a statement.

Among the projects slated for turnover this year are the 30-storey Paseo Heights and the 50-storey Three Central, both located in Salcedo Village.

Last year, the listed firm turned over more than 800 residential units from its Two Central and Greenbelt Hamilton Tower 1 projects in Makati CBD.

These form part of around 4,000 residential units Megaworld has built in Makati. Some of the company’s projects are One Central, Paseo Parkview Towers 1 and 2, One Lafayette Square, Two Lafayette Square, The Manhattan Square, the Salcedo Park Towers 1 and 2 Greenbelt Chancellor, Greenbelt Excelsior, Greenbelt Madison, Greenbelt Parkplace, and Greenbelt Radisson.

“We continue to look for more opportunities to build more residential properties within Makati CBD because there is still high demand. Rental rates remain high as well,” Mr. Lozano said.

In a report by Colliers International for the second quarter, the real estate consultancy said Makati CBD commanded the second highest rental rates for prime three-bedroom residential units, with each square meter priced at P818 per month.

Megaworld is constructing four more residential towers in Makati, namely Salcedo Skysuites, San Antonio Residence, Greenbelt Hamilton Tower 2, and The Ellis.

The property developer’s attributable profit climbed 10.8% to P6.4 billion in the first six months of 2017, as the sales take-up of its office developments pushed revenues to P23.24 billion during the same period.


source: http://bworldonline.com/megaworld-turn-1...kati-year/
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...3rd qtr earnings report

Megaworld’s bottom line hits 12% in January-September period

MEGAWORLD Corp.’s reported net income during the first nine months of the year hit P10.34 billion, about 12-percent higher than the P9.27 billion the company reported in the same period last year.

Revenues from investment properties rose 19 percent year-on-year during the first three quarters of the year, pushing up the company’s nine-month earnings, according to the property-development arm of businessman Andrew Tan.

“The company’s robust rental income also helped sustain earnings growth on the back of strong office and commercial leasing businesses,” Megaworld said.

The first three quarters saw its rental income surging to P8.82 billion, from P7.41 billion during the same period last year.

Consolidated revenues, on the other hand, stood at P37.10 billion during the first nine months, growing around 5 percent, from the previous year’s P35.26 billion.

Residential revenues remained steady while hotel revenues were up 8 percent year-on-year.

“There is a brighter side for our residential business as we have started the bulk of our unit turnovers in Makati and Fort Bonifacio this year,” Megaworld said. “Our rental business remains to be a key contributor to our consistent growth, and we see this to become stronger in the coming years as we complete more office and commercial buildings, as well as malls in our townships across the country. There is also a remarkable growth in our hotel business as we open more hotels in Metro Manila, Boracay, Iloilo, Cebu and Tagaytay.”


source: https://businessmirror.com.ph/megaworlds...er-period/
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Megaworld to develop Cavite business district


MEGAWORLD Corp. is planning to develop a Makati-inspired business district in General Trias, Cavite.

In a statement, the property firm of tycoon Andrew L. Tan said it is establishing the Maple Grove Commercial District within its 140-hectare township in General Trias.

Maple Grove Commercial District, which covers 35 hectares, offers 365 commercial lots ranging from 360 to 1,008 square meters (sq.m.). Megaworld said it is targeting P9 billion in sales from the commercial lots.

“Within the Maple Grove Commercial District, we are creating sub-districts that lead to a six-lane main avenue. The entire development will be surrounded with green and leisure parks and the streets, composed of secondary and service roads, will be interconnected in a way that everything becomes accessible wherever you come from,” Rachelle Peñaflorida, Megaworld vice president for sales and marketing, was quoted as saying in a statement.

Megaworld said the Maple Grove Commercial District will have seven parks, including a “Central Park.” It added that some buildings in the commercial district will feature rooftop gardens, vertical and indoor gardens, as well as lawns.

“We will be integrating skygardens on the rooftops of most buildings to be constructed. Other sustainability and green initiatives that may be integrated by lot owners into their developments will also be welcomed as we strive to make Maple Grove a ‘green city in the south,’” Ms. Peñaflorida said.

Megaworld expects to complete Maple Grove Commercial District by 2022. Lot owners will have to construct their buildings within five years from turnover.

Last year, the property firm said it is pouring P10 billion for the development of Maple Grove township, located 45 minutes away from Makati and other business districts in the National Capital Region via Coastal Road and Manila-Cavite Expressway. The new township will have a mix of residential, retail, office and institutional components.

Maple Grove is Megaworld’s fourth project in the booming Cavite-Batangas corridor, where the company has over 2,000 hectares of land.

The property giant reported its nine-month attributable profit stood at P9.98 billion, 11% higher than the P8.98 billion it delivered in the same period in 2016. Consolidated revenues for the first nine months rose 5% to P37.1 billion, driven by higher rental income.


source: http://bworldonline.com/megaworld-develo...-district/
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...bargain at below 5.00

Two Megaworld office towers secure PEZA accreditation

TWO OFFICE towers by Megaworld Corp. in Laguna have been declared special economic zones for information technology by the government, making businesses operating in the area eligible for special tax incentives.

In a statement issued Monday, Megaworld said President Rodrigo R. Duterte has signed Presidential Proclamation No. 383, designating Southwoods City Office Towers 1 and 2 as special economic zones accredited by the Philippine Economic Zone Authority (PEZA).

“Income tax holiday, tax and duty-free importation of raw materials, capital equipment, machineries and spare parts are examples of fiscal incentives while simplified import — export procedures, non-resident foreign nationals may be employed by PEZA-registered enterprises are examples of non-fiscal incentives that we can give to our office tenants in Southwoods office towers,” Megaworld Senior Vice-President Jericho P. Go was quoted as saying.

The Andrew L. Tan-led company noted that no local and national taxes will be charged on businesses operating in an ecozone, except for real property tax which will be paid for by the developer.

Foreigners with investments in an ecozone may also avail of permanent resident status along with their spouse and children below 21 years old. Benefits likewise include the issuance of working visas renewable every two years for foreigners doing business inside the ecozone.

Southwoods City Office Towers 1 and 2 each have 12 storeys covering a total of around 46,000 square meters of leasable space, which can fit up to 8,000 workers. The towers also have their own basement parking facility.

“The two office towers aim to help multinational companies boost and expand their businesses in Southwoods City. There are a lot of business opportunities in this growing township,” Mr. Go said.

Megaworld will start turning over the office spaces this year.

The office development is located within Megaworld’s 561-hectare Southwoods City township in Biñan, Laguna. This gives employees of the facility access to Southwoods Mall, a hospital, a church, and other recreational hubs, including the Manila Southwoods Golf and Country Club.

Property developers have earlier expressed concern over the slowdown in presidential proclamations of PEZA-accredited buildings under Mr. Duterte’s term. Real estate consulting services Pronove Tai International noted that it took the current administration six months to sign a PEZA proclamation, whereas previous administrations took a maximum of two months.

With this, Pronove Tai said P42 billion worth of office investments in the country have been delayed, resulting to delays in take-up from the information technology-business process management sector, as well as increased vacancy in the office sector.

Megaworld’s attributable profit grew 11% to P9.9 billion in the first nine months of 2017, as office developments pushed revenues 5% higher to P35.4 billion during the same period.


source: http://bworldonline.com/two-megaworld-of...editation/
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Megaworld sold 250 prime lots in Cavite in more than a month

MEGAWORLD Corp., the property-development arm of businessman Andrew Tan, said it has sold over 250 commercial prime lots in Maple Grove Commercial District in General Trias, Cavite, 45 days since its launch.

The company said these prime lots form part of the proposed “Makati inspired” Central Business District (CBD) of Cavite, which offers 360 titled commercial lots for sale totaling P9 billion.

“We have received an overwhelming tranche of booked sales for this project during the past days, even during the holidays,” said Rachelle Peñaflorida, the company’s vice president for sales and marketing. “It really did not come as a surprise to us because, even before we have announced this, we have already received a lot of inquiries.”

According to Peñaflorida, they consider General Trias, Cavite, as “a rising growth center.”

“And everyone is looking forward to the new proposed CBD that we will build.”

The town of General Trias is easily accessible to Sangley Point, one of the proposed new locations of a new airport. It is also less than an hour away from the Makati CBD via Coastal Road and Cavitex.

In November last year Megaworld said it will be offering prime commercial lots in the 35-hectare commercial district within its 140-hectare Maple Grove township. Commercial lots being offered for sale range from 360 square meters to 1,008 sq m in size.

“We envision this to be the ‘Green City of the South,’ because of its numerous sustainability features and environment-friendly amenities,” Peñaflorida said.

The Maple Grove Commercial District will have seven green and open parks across the development, including a “Central Park” that will serve as a green jewel of the commercial district.


source: https://businessmirror.com.ph/megaworld-...n-a-month/
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...more details

Megaworld says 80% of Maple Grove commercial lots sold

MEGAWORLD Corp. has seen a brisk take-up for commercial lots in its 140-hectare township in General Trias, Cavite, noting 80% of the P9 billion worth of lots for sale have been purchased.

The Andrew L. Tan-led property developer said in a statement more than 250 out of the 360 commercial lots for sale in Maple Grove Commercial District has already been sold, 45 days after it was unveiled in November 2017.

“We have received an overwhelming tranche of booked sales for this project during the past days, even during the holidays. It really did not come as a surprise to us because even before we have announced this, we have already received a lot of inquiries,” Megaworld Vice-President for Sales and Marketing Mary Rachelle I. Peñaflorida said in a statement. 

The commercial district covers 35 hectares within the Maple Grove township, which is also set to have residential, institutional, and retail components. Lots range in size from 360 square meters (sq.m.) to 1,008 sq.m., as Megaworld develops the area into a central business district similar to that of Makati. 

“General Trias, Cavite is a rising growth center and everyone is looking forward to the new proposed CBD that we will build… We envision this to be the ‘Green City of the South,’ because of its numerous sustainability features and environment-friendly amenities,” Ms. Peñaflorida said.

Maple Grove is less than an hour away from Makati via Coastal Road and the Cavite Expressway, and is accessible through Sangley Point, where the government is proposing to rehabilitate the existing Sangley Airport in order to ease congestion in Ninoy Aquino International Airport.

Amenities within the commercial district include seven green and open parks, one of which will be called Central Park.

Megaworld looks to complete development of the commercial district in 2022, after which turnover will start. The company expects lot owners to develop their buildings within five years after they have been turned over.

The listed firm has earlier announced that it will be spending P10 billion over the next 10 years for the development of Maple Grove. This is the company’s fourth project in the Cavite-Batangas area, where it has a land bank of more than 2,000 hectares.

Megaworld’s revenues grew 5% to P37.1 billion in the first nine months of 2017, boosted by higher rental income. Attributable profit accordingly rose 11% to P9.98 billion, against the P8.98 billion it posted in the same period a year ago.


source: http://bworldonline.com/megaworld-says-8...lots-sold/
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...ok 'to ah

Megaworld to develop iTownships

MEGAWORLD Corp. is currently developing a concept called iTownships, which seeks to digitize services in its existing estates and incorporate smart home technologies in individual units.

In a statement issued over the weekend, the listed property developer said this includes the digitization of customer and payment processes, integration of smart home technology in residential units, and the use of digital technology and energy efficient materials in structural designs.

Megaworld Senior Vice-President for Commercial Division Kevin Andrew L. Tan said iTownships will become the company’s new brand in “creating the townships of the future.”

Megaworld will also create Township Operation Centers, allowing it to maximize security, safety monitoring, and emergency response to every township. A smart parking system which includes electric vehicle charging in mall developments and other areas may be added as well.

Mr. Tan said they have now deployed teams to study how the integration of smart technology and innovations into its townships can be achieved. This will potentially benefit the 22 townships that Megaworld has developed over the last 28 years, which includes more than 660 residential developments, 54 office towers, and 15 malls.

“In this fast-changing digital world, we see the importance of aligning our developments to quickly adapt to the disruptions, which we perceive as opportunities,” Mr. Tan said.

Alongside incorporating digital aspects to its townships, Megaworld will also enhance green and sustainable features with this program. For instance, the company will be converting old streetlights to LED and solar-powered lights, green roofing for office buildings, and the addition of vertical green spaces.

Incorporated in 1989, Megaworld primarily engages in the development of master-planned communities that include residential, commercial, leisure, and entertainment components. The company’s subsidiaries and associates include Empire East Land Holdings, Inc., Global-Estate Resorts, Inc., Suntrust Properties, Inc., and Richmonde Hotel Group International Limited, among others.

Megaworld’s net income attributable to the parent grew 11% to P9.98 billion in the first nine months of 2017, against the P8.98 billion it generated in the same period in 2016. Revenues, meanwhile, increased 5% to P37.1 billion during the same period.

Megaworld is the real estate unit of tycoon Andrew L. Tan’s holding firm Alliance Global Group, Inc., which also has core investments in gaming through Travellers International Hotel Group, Inc., liquor through Emperador, Inc., and quick service restaurants through Golden Arches Development Corp.


source: http://bworldonline.com/megaworld-develop-itownships/
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...uy Iloilo! Tongue

Megaworld to open P2.2-billion mall in Iloilo City

Megaworld Corp. is set to open a P2.2-billion lifestyle mall in this city in April, as it looks to end the year with a total of 18 malls.

Located inside the company’s 72-hectare Iloilo Business Park, Megaworld said the 90,000-square meter (sq.m.) Festive Walk Mall will be the largest and first full-scale mall outside Luzon.

“We are excited to bring our lifestyle mall concept to Iloilo, our first outside of Luzon. This full-scale mall will further expand our offerings in Iloilo Business Park as it matures as a township,” Megaworld Senior Vice-President and Head for Lifestyle Malls Kevin Andrew L. Tan said in a press briefing here on Monday.

Festive Walk Mall will offer around 40,000 sq.m. of net leasable space. The company expects around 75% of the space to be taken up by tenants once it opens, and hopes to raise this to 90% within three months of opening.

Mr. Tan said they are currently talking with the SM group and the Metro Gaisano group to open two supermarkets at Festive Walk Mall. The development will also feature seven cinemas, three activity centers, a children’s playground, and around 1,000 parking slots.

An open space with gardens and greeneries, a chapel, and a dog park will be located at the third level, collectively called The Deck. 

Mr. Tan noted Festive Walk would be different from other malls in Iloilo as it would have more food and beverage tenants, pegged at around 30% of total occupants.

“Malls here now are run-of-the-mill shopping malls, grocery, bookstore, that’s it. Here we’re redefining it, providing a round- the-clock lifestyle mall that fits the younger demographic,” the Megaworld executive said.

The mall will also have an annex building connected by the 1.1-kilometer Festive Walk Parade. The annex will house government offices, with the Land Transportation Office, Social Security System, and Philippine Health Insurance Corp. already contracted as tenants.

The company is also in talks with the Bureau of Immigration and Department of Foreign Affairs to set up shop in the annex.

“We’ll have a complete government center in the annex, and we’ll also have medical facilities there that will compete the service offerings,” Mr. Tan said. 

The Festive Walk Mall is the first lifestyle mall that Megaworld will be opening this year, bringing the company’s gross floor area to 690,000 square meters from 15 malls.

This year, Megaworld is slated to open malls in Pasig City, Alabang, and Boracay Newcoast.

“Not as big as Iloilo, but smaller formats… so we’ll end the year with 18. We are on track to hit that 28 malls by 2020. We still have more townships being developed right now,” Mr. Tan said. 

The mall expansion is part of Megaworld’s efforts to generate P20 billion in recurring income by 2020, of which lifestyle malls will contribute 50%. Business process outsourcing firms will account for the other half.

Megaworld’s net income attributable to the parent grew 11% to P9.98 billion in the first nine months of 2017, following a 5% increase in revenues to P35.4 billion for the period.


source: http://bworldonline.com/megaworld-open-p...oilo-city/
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Megaworld to introduce iTownship concept in Davao Park District

MEGAWORLD Corp. is developing its first “smart” township in Mindanao, as it starts rolling out its iTownship concept nationwide.

In a statement, Megaworld said Davao Park District will be classified as an iTownship, which means it will “integrate digital technology, design innovations and connectivity into the entire development.”

“Our goal is to future-proof our first township here in Mindanao. This means, there will be features and facilities within the township that maximize smart innovations, use of Internet and digital lifestyle. The Davao Park District will become the ‘township of the future,’” Megaworld Senior Vice-President Jericho P. Go was quoted as saying in the statement.

As an iTownship, Megaworld said the 11-hectare Davao Park District will have fiber optic-ready infrastructure, designated bike lanes and bike rental systems, LED-powered signages and digital walls, public and street Wi-Fi access, electric car charging stations and Township Operations Centers, among others.

“We have designated teams to carefully study what we can put here on the immediate term and on the long term. From design, smart technology, mobility and connectivity, energy efficiency as well as safety and security, we will put in place all these features to benefit those who live, work and play in the township,” Mr. Go said.

The P1.2-billion Davao Finance Center, which offers 26,000 square meters of office space, is expected to be finished within the first half of 2018.

Megaworld emphasized the 14-storey building’s safety features, such as an Automatic Fire Suppression System, Fire Detection and Alarm Systems, and a 24/7 CCTV and communication system.

“We will be extra-compliant to what the national and local fire codes require because the safety and security of our office tenants will always remain to be our top priority,” Mr. Go added.

Also in Davao Park District, Megaworld is building One Republic Plaza, with 18,000 square meters of office space inventory, and the Emperador House, with around 10,000 square meters of office space inventory.

Megaworld said the local city council of Davao City recently endorsed the accreditation of the Davao Park District, particularly the area of these office towers, as an economic zone for information technology under the Philippine Economic Zone Authority.

Incorporated in 1989, Megaworld primarily engages in the development of master planned communities that include residential, commercial, leisure, and entertainment components.

Megaworld’s net income attributable to the parent grew 11% to P9.98 billion in the first nine months of 2017, against the P8.98 billion it generated in the same period in 2016. Revenues, meanwhile, increased 5% to P37.1 billion during the same period.

Megaworld is the real estate unit of tycoon Andrew L. Tan’s holding firm Alliance Global Group, Inc., which also has core investments in gaming through Travellers International Hotel Group, Inc., liquor through Emperador, Inc., and quick service restaurants through Golden Arches Development Corp.


source: http://bworldonline.com/megaworld-introd...-district/
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