Megaworld Corporation

...MEG bags JPMorgan Bldg project

Megaworld to build JPMorgan Chase’s PHL global service center

Property developer Megaworld Corp. said Tuesday it is constructing a 25-storey office building for the Philippine global service center of banking and financial services provider JPMorgan Chase Bank N.A.

“This multibillion peso deal with a single company is the biggest in the country’s office leasing industry,” Jericho Go, Megaworld’s senior vice president, said in a statement.

The JPMorgan Chase building is to be completed in 2021 and be ready for full operations by 2022. It will have an estimated 70,000 square meters of gross leasable area, the Andre Tan-led developer said.

According to JPMorgan Chase, the office tower will consolidate its Philippine operations in a single location.

“Manila continues to be a major strategic hub for JPMorgan Chase. Through this landmark development, we are able to consolidate our presence in one location,” Raoul Teh, chief executive officer for JPMorgan Chase Philippine Global Service Center, said.

By bringing its Manila-based employees together, JP Morgan Chase intends to facilitate increased collaboration. This also demonstrates “our commitment to providing them with various career opportunities within the firm,” said Teh

The bank’s global service center has been operating in the Philippines since 2005 as the country is one of JPMorgan Chase’s strategic hubs, a representative from the bank, who requested not to be named, told GMA News Online.

The JPMorgan Chase tower will be located along 38th Street corner 9th Avenue in Uptown Bonifacio.

It is a few meters away from the future Uptown Transport Hub beside Kalayaan Avenue—the proposed Skytrain monorail system that connects Taguig’s Fort Bonifacio to Makati, as well as the future Kalayaan Station of the Mega Manila Subway and the Fort Bonifacio Bus Rapid Transit System.
Featuring highly efficient office floors, innovative technology in building design, and having applied for LEED Gold certification, the facility is designed by UK-based award-winning architectural firm Broadway Malyan, Megaworld said. 

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...bili na tayo ng properties sa Visayas and Mindanao habang mura pa guys Big Grin

Megaworld allocates P500M for Bacolod hotel

MEGAWORLD Corp. continues the expansion of its hospitality business with the development of a P500-million luxury boutique hotel within its Bacolod City township.

In a statement issued Tuesday, tycoon Andrew L. Tan’s property firm said the hotel inside the 34-hectare The Upper East township is set to cater to conventions, weddings, and other MICE (meetings, incentives, conventions, and exhibitions) events in the area.

Offering a total of 48 suites, the hotel will house an all-day dining restaurant, cafe, courtyard, swimming pool and pool deck, fitness center, lanai, and Megaworld’s signature hotel bar concept called Zabana Bar.

The hotel will also feature a ballroom that can accommodate up to 1,000 guests in a banquet setting, making it the largest hotel ballroom facility in Bacolod City. It can likewise be divided into three separate ballrooms for smaller events.

“This luxury boutique hotel will be another landmark in The Upper East. The hotel will be a perfect venue for conventions, weddings and memorable celebrations as it integrates an outdoor garden setting into its ballroom facility. Megaworld is keen on helping boost the MICE tourism industry of Bacolod,” Megaworld Bacolod Vice President for Sales and Marketing Mary Rachelle I. Penaflorida said in a statement.

Megaworld expects to complete the hotel by 2022.

The hotel is being built on the site of a guest house within the Bacolod-Murcia Milling Company Compound. Megaworld will be using the retrofitted heritage house as the hotel’s main lobby, while the old house’s guest rooms will be converted into the ballroom.

Megaworld has tapped heritage architect and conservationist Dominic Galicia — the same person who redesigned the National Museum of Natural History in Manila — to design the hotel.

Meanwhile, the company will also be upgrading its first residential condominium in The Upper East called One Regis to meet the demand for more units.

The now 12-storey condominium building will feature two penthouse floors with upper and lower penthouses, a bi-level amenity deck with residential units, exclusive residential floors, and additional basement parking.

A wellness lounge and game and entertainment room will likewise be added to the initial plan for amenities, which already includes a swimming pool and kiddie pool, pool lounge, fitness center, events hall, and a walk park.

One Regis is expected to generate P1.2 billion in sales, and will be completed by 2022.

The projects are part of the P28-billion investment Megaworld committed to spend for The Upper East in the next 10 years.

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...Pasig project

Megaworld allots P35 billion for Pasig township

MEGAWORLD Corp. will be spending P35 billion to develop its township in Pasig City called Arcovia City, launching the first condominium to rise in the property.

Located along C-5 road in Pasig, the 12.3-hectare Arcovia City will offer a mix of office, residential, retail, and lifestyle mall components.

The first residential project is the 18 Avenue de Triomphe, a 37-storey condominium slated to bring in P4 billion in sales. The building will house a total of 576 residential units ranging from studio sized up to 32.5 square meters (sq.m.), one-bedroom (up to 63 sq.m.), two-bedroom (up to 110.5 sq.m.), and three-bedroom (up to 154 sq.m.).

All units at 18 Avenue de Triomphe will have their respective balconies, giving residents a view of Eastwood, Ortigas, Fort Bonifacio, and Antipolo.

Amenities include a swimming pool, children’s playground, outdoor fitness park, game and entertainment room, fitness center, event hall, outdoor lounge, and a viewing deck.

Megaworld expects to complete the project by 2023. 18 Avenue de Triomphe is part of the P80 billion worth of residential projects the company is launching this year, banking on the strong demand from local buyers, overseas Filipino workers, and foreign investors.

At the same time, the listed developer is currently building its first office tower in the township called One Paseo. The 17-storey building will offer around 23,000 sq.m. of leasable office spaces. The company is also set to build a lifestyle mall with its own walk parks, viewing deck, and leisure facilities.

Arcovia City will also feature a museum topped by a monument designed by Spanish sculptor Gines Serran Pagan. The museum is being positioned to be the township’s major attraction, alongside a 62-feet high arch monument inspired by the Arco de la Victoria in Madrid, Spain.

“Our vision for this new township is to inspire the young generation to persevere and work harder to attain their own successes and victories in life. There is a deeper story embedded into this development, and we will tell that story through the installations and attractions around the township,” Megaworld Senior Vice President Kevin Andrew L. Tan said in a statement.

Megaworld has committed to spend P60 billion in capital expenditures this year to support its lineup of projects.

The company delivered a 13% increase to its net income attributable to the parent to P7.25 billion in the first six months of 2018, following a 10% jump in revenues to P26.8 billion.

Megaworld is the property firm of tycoon Andrew L. Tan, who also has investments in liquor, gaming, and quick service restaurants.

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...hype news ang tawag dito Tongue

Megaworld looking for Q3 earnings boost

Economic pressures have been weighing on Megaworld Corporation’s share price but analysts see some upside for the rest of the year.

The Andrew Tan-led firm gained 1.23 percent or 5 centavos to close at P4.13 on Friday amid a 1.72-percent rebound for the benchmark Philippine Stock Exchange index.

The latest price is down 22 percent from this year’s peak of P5.30 — notched on January 5 – but above the September 19 year-to-date low 3.98.

Megaworld was affected by last week as the PSEi tanked to a near two-year low following a global rout traced to declines on Wall Street and US President Donald Trump’s renewed attacks on the US Fed.

Philstocks Financial, Inc. research associate Piper Chaucer Tan said foreign selling was a major factor and also pointed to concerns over higher interest rates and the peso’s continued weakness,

However, Megaworld’s shares being undervalued could trigger buying by investors, he said.

“Investors will always look for stocks that have undervalued as against to its true value … [they have]not yet seen the full potential of a stock moving forward,” Tan explained.

“It’s just a matter of positioning first before investors sees its true and intrinsic value of a company,” he added.

Megaworld ended the first half strongly with its profits up 12 percent to 7.51 billion on the back of strong core business results.

In 2017, its net income surged 13.4 percent to P13.3 billion as major revenue channels — residential and hotel developments, office and commercial space — showed robust results.

Tan described Megaworld’s projects, especially those outside Metro Manila, as “forward-thinking” and an edge against competitors.

Megaworld’s latest addition to its portfolio is the 12.3-hectare Arcovia City township located along C-5 road in Pasig City where a 17-storey office tower, mall, 37-storey residential development, amenities and land improvements are set to be built.

The firm’s other ventures include a tower for JPMorgan Chase Bank’s Philippine Global Service Center, a central business district in in Bacolod City, the Festive Walk Mall in Iloilo City and many more.

Tanb said that ncreasing demand for real estate — brought about by government’s “Build Build Build” program — could boost investor sentiment for firms in the sector.

“We may see demand slow on the short-term,” he said, “but overall perspective … looks bright.”

Third quarter results, said First Grade Finance Managing Director Astro Del Castillo, could serve as a “catalyst” for Megaworld’s share price.

“We’re still optimistic given that the company itself has learned from the many lessons in the past, especially during the [Asian] financial crisis,” he added.

Diversified Securities Inc. trader Aniceto Pangan, for his part, expects the firm to continue posting double-digit profit growth.

“What we foresee is the same trend,” he said.

“If the results of third quarter show that the trend of the recurring business has not been affected by the inflationary environment plus the increasing interest rates, definitely … the [positive developments]will ultimately push the [share]price higher,” he added.

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Megaworld eyes P10-B sales from 4th condo in Uptown Bonifacio

MEGAWORLD Corp. expects to generate P10 billion in sales from its fourth residential condominium in Uptown Bonifacio, banking on its prime location in the growing financial district in Taguig.

The listed property developer unveiled on Monday Uptown Arts Residence, a 45-storey condominium along 9th Avenue in the northern part of Fort Bonifacio.

Uptown Arts Residence will rise beside the Skytrain, the proposed monorail project of Megaworld’s sister firm, Infracorp Development, Inc. The Skytrain is set to connect Fort Bonifacio to the Guadalupe Station of the Metro Rail Transit Line 3.

The project will likewise be situated near the Kalayaan Station of the proposed Mega Manila Subway project, a 30-kilometer subway system connecting Quezon City to the Ninoy Aquino International Airport.

Uptown Arts Residence will also benefit from the construction of a bridge over Pasig River connecting Fort Bonifacio to Ortigas. This will cut travel time from Uptown Bonifacio to Ortigas to less than 10 minutes.

“Uptown Arts Residence boasts of its strategic location in the entire Fort Bonifacio. It has the fastest access to the new transport infrastructure projects, and it stands right next to Uptown’s own array of dining, shopping and entertainment establishments,” Megaworld Senior Vice-President for Sales and Marketing Noli D. Hernandez said in a statement.

Units will range from studio (up to 41.5 square meters), one-bedroom (up to 66 sq.m.), one-bedroom loft (up to 117 sq.m.), two-bedroom (up to 98.5 sq.m.), three bedroom (up to 125 sq.m.), and three-bedroom loft (up to 168 sq.m.). Each unit will have its own balcony.

All the executive and loft-type one bedroom, two-bedroom, and three-bedroom units will include a maid’s room with toilet. Meanwhile, three-bedroom units will feature bath tubs in their master bedrooms.

Amenities include an infinity pool with pool deck, outdoor lounge, a day care and children’s play area, fitness center, and function room. There will be nine storeys reserved for parking across basement and podium floors.

Megaworld expects to complete Uptown Arts Residences in 2024. It will be the fourth residential building in the company’s 15.4-hectare township. The first three are One Uptown Residence, Uptown Ritz, and Uptown Parksuites.

The company booked P7.25 billion in net income attributable to the parent during the first six months of 2018, 13% higher year-on-year, as revenues also jumped 10% to P26.8 billion.

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Megaworld adds 3rd hotel to Iloilo Business Park

MEGAWORLD Corp. is continuing to expand its homegrown hotel brand, as it revealed plans to open a Belmont Hotel within the Iloilo Business Park in Mandurriao, Iloilo City.

In a statement, Megaworld said the Belmont Hotel Iloilo will be the third hotel in the business park, after Richmonde Hotel and Courtyard by Marriott. It is targeted to open in 2023.

The 12-storey hotel will have 405 suites, targeting tourists attending events at the Iloilo Convention Center which is within walking distance.

“We have seen the huge potential of Iloilo as a tourism destination. With the Iloilo Convention Center as a main facility for Meetings, Incentives, Conventions and Exhibitions (MICE), there is no doubt that Iloilo City needs another world-class hotel. And we are bringing another Megaworld homegrown hotel brand, which has gained popularity among business travelers since Belmont Hotel Manila opened in 2015,” Jennifer Palmares-Fong, vice-president for sales and marketing of Megaworld Iloilo, was quoted as saying in a statement.

In 2017, around 1.08 million local and foreign tourists visited Iloilo City.

Megaworld opened its first Belmont Hotel at Newport City in Pasay City. It is planning to open the second one at Boracay Newcoast next year, while another is being planned at The Mactan Newtown in Lapu-lapu City, Cebu.

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Megaworld eyes P700-M sales in new Cavite development

Listed property developer Megaworld Corp. is expecting to generate P700 million in sales from its recently-launched 10-storey condominium in General Trias, Cavite.

In a disclosure to the Stock Exchange on Monday, The Verdin at Maple Grove, located in its 140-hectare Maple Grove township, will be designed to complement the Cavite’s “green” central business district (CBD).

“A huge part of the masterplan will be Makati-inspired, where green parks and interconnected streets are surrounded by malls, office buildings and residential towers,” said Rachelle Peñaflorida, Megaworld vice president for sales and marketing.

“There will be fresh air to breathe, and enough space to relax and meditate,” she said. “There will be pocket gardens and areas to commune with nature.”

Accessible through Coastal Road and CAVITEX, Megaworld said that the township is only 30 to 45 minutes away from Makati CBD and Fort Bonifacio.

The Maple Grove township, containing 363 ‘prime lots’ for companies businesses to locate in, was announced just last year. The project was intended to be surrounded by seven open parks.

Megaworld said it’s new residential project will make use of solar-powered outlets in the outdoor amenity deck and energy-generating equipment in its outdoor fitness area. Recycled and indigenous materials will also be used for the pool deck and children’s playground.

Set to be complete by 2023, the condominium will comprise 140 units, ranging from 32 square meters to 79 square meters.

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...kita na naman ang usapan Tongue

Cebu condo expected to generate P1.5-B sales

MEGAWORLD Corporation said it expects to generate P1.5 billion in sales from its fourth residential project in The Mactan Newtown in Lapu-Lapu City, Cebu.

In a statement, the property developer said the 20-storey La Victoria Global Residences will have 181 units.

The condominium tower’s Spanish-inspired architecture reflects the historical significance of Galleon Victoria. The ship brought Ferdinand Magellan to Cebu island in 1521.

“Galleon Victoria arrived in the Philippines in 1521, and completed its circumnavigation of the globe in 1522. This piece of history that eventually showcased the victory of native Filipinos will be commemorated by this new residential tower inside The Mactan Newtown,” Noli D. Hernandez, president of Megaworld Cebu Properties, Inc., was quoted as saying.

Mr. Hernandez said La Victoria Global Residences is expected to be completed by 2022, in time for the Galleon Victoria’s 500th year of circumnavigation.

Units at the tower feature studio units of up to 40 square meters (sq.m.); one-bedroom units of up to 53 sq.m.; two-bedroom units of up to 80 sq.m.; and three-bedroom units of up to 118 sq.m. All units will have their own balconies.

La Victoria Global Residences will have an infinity pool, kiddie pool, pool lounge, reading lounge, children’s play area, fitness center, jogging path, day-care center and a function room.

The Mactan Newtown is also home to residential developments 8 Newtown Boulevard, One Pacific Residence and One Manchester Place, as well as the Newtown School of Excellence. 

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...good earnings report MEG Smile

Megaworld earnings jump in 3rd quarter

Megaworld Chairman and CEO Dr. Andrew L. Tan
MEGAWORLD Corp. grew its attributable profit by 14% in the third quarter of 2018, driven by the double-digit expansion of both its residential and leasing businesses.

In a regulatory filing, the property firm of tycoon Andrew L. Tan reported a net income attributable to equity holders of the parent of P4.04 billion from July to September, versus P3.54 billion in the same period a year ago. Revenues also surged 17% to P14.98 billion.

On a nine-month basis, Megaworld’s attributable profit rose 13% to P11.29 billion following a 13% increase in revenues to P41.76 billion.

This translates to earnings per share of 35.5 centavos, from 31.4 centavos in the same period in 2017.

“The residential landscape has been experiencing a resurgence, which has been very evident in its growth during the past quarters. Our rental business for both offices and Megaworld Lifestyle Malls remains to be the fastest growing segment of the company,” Megaworld Senior Vice President and Treasurer Francisco C. Canuto said in a statement.

Residential revenues went up by 10% to P28.39 billion by end-September, on account of higher sales during the third quarter. Sales of real estate rose by 9.9% to P23.04 billion for the period, with sales coming from The Venice Luxury Residences, San Antonio Residence, The Ellis, and Uptown Parksuites Towers 1 & 2, among others.

Megaworld noted that gross margins for the segment improved by more than 200 points year-on-year.

“We have already rolled out quite a number of residential projects this year, which reflects the kind of demand that we have been seeing in 2018…as long as we see this type of demand on the ground, then we will continue to launch projects aggressively. Moreover, we have already secured the land to do this, which is key in being a leader in this industry,” Mr. Canuto said.

For commercial properties, rental income delivered an 18.6% increase to P10.46 billion from P8.82 billion in the same period a year ago. The company benefited from the expansion of its office and retail portfolio. It further cited the higher demand for office spaces from business process outsourcing (BPO) companies.

The company’s hotel operations meanwhile generated P1.03 billion in revenues, 8.42% higher from a year ago due to higher hotel occupancy rates coupled with the opening of a new hotel.

“We have been tracking a promising trajectory during the first nine months of 2018, and we are optimistic to finish the year strong,” Mr. Canuto said.

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...strong company pa rin 'to, BUY pa rin

Megaworld targets P8-B sales from Makati project

MEGAWORLD Corp. looks to generate P8 billion in sales from its latest condominium which is set to become one of the tallest residential towers in Makati City.

In a statement issued over the weekend, the listed property developer said it launched the Vion Tower, a 57-storey residential tower set to rise along EDSA corner Chino Roces Avenue.

Vion Tower will offer studio units sized up to 31 square meters (sq.m.), one-bedroom (up to 51 sq.m.), and two-bedroom (up to 71 sq.m.) units. Some of the units will have their own balconies.

Megaworld said the project will feature a Smart Parcel Delivery System. This gives residents an automated receiving, claiming, and storage of parcels.

“Here, we want to offer residents with the basics of condo living plus the convenience of smart technology and design innovation, which can be seen in the lobby and even in the amenities,” Megaworld First Vice-President for Sales and Marketing for Makati Eugene Em Lozano said in a statement.

The installation of the Smart Parcel Delivery System forms part of Megaworld’s efforts to “future-proof” its developments, which includes incorporating digital technology, design innovations, and connectivity into its townships.

Amenities in the Vion Tower include a 25-meter lap pool, wading pool, function hall, fitness center, outdoor fitness area, children’s playground, day care center, relaxation lounge, and a library.

Vion Tower will also have two levels dedicated to retail shops, as well as a multi-level podium parking available to both residents and guests.

The company further highlighted the tower’s prime location, as it stands about two minutes away from the MRT Magallanes station. Vion Tower will also be about 10 minutes away from the Ninoy Aquino International Airport via Skyway, and about 15 minutes away from Entertainment City — a strip of integrated resort and casinos in Parañaque City and the Bay Area.

Megaworld expects to complete the tower by 2024.

Vion Tower will add to Megaworld’s inventory of more than 6,500 residential units across 28 residential towers in Makati City alone. The company said this makes it among the biggest condominium developers in the financial business district.

Megaworld is part of tycoon Andrew L. Tan’s Alliance Global Group, Inc., which also has investments in liquor, gaming, quick service restaurants, and infrastructure.

The company posted a net income attributable to the parent of P11.29 billion in the first nine months of 2018, 13% higher than the P9.98 billion it posted in the same period a year ago. This followed a 13% uptick in gross revenues to P39.88 billion. 

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