Quantcast
Latest Stories

Megaworld continues expansion in Makati

By

Megaworld Corp., the flagship property developer of tycoon Andrew Tan, is expanding its footprint in the Makati central business district (CBD) on expectations that demand for upscale residential projects will remain robust.

In a briefing on Thursday, Megaworld head of sales and marketing Eugene Lozano said the builder was set to complete four more residential towers that would add 2,000 residential units, with a sales value of P12 billion.

The projects are Two Central, Three Central and Paseo Heights, all in Salcedo Village, and Greenbelt Hamilton in Legazpi Village.

“There is a continuing expansion of multinational companies in the country and growth in the expatriate population,” Lozano said, citing the increase in the number of business process outsourcing companies in the country.

Lozano also said Makati City continued to draw multinational companies looking to set up shop in the Philippines, given its growing profile overseas.

“Thus, the demand for residential condominiums in the Makati CBD remains high. Makati, especially the CBD, remains the top choice among local and foreign condo buyers and investors,” Lozano said.

As it rolls out new projects, Megaworld expects to have 26 residential towers in the Makati CBD, up from the current 18 buildings.

“We are looking at more opportunities to further expand our portfolio in the Makati CBD by growing our landholding. We will definitely continue to build more residential towers in the country’s financial center,” Lozano said.

Megaworld has reported a strong take-up for the four upcoming towers in Makati.

It said Two Central was already sold out while Three Central, which would also house an upscale community mall, was already 85-percent sold. Megaworld added that Paseo Heights was 65-percent sold while Greenbelt Hamilton was 75-percent sold.

Megaworld is a unit of Tan-led holding firm Alliance Global Group Inc., which also has interests in liquor, fast food and gaming.

Megaworld’s share price declined by 2.21 percent to P3.98 per share on Thursday.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Makati , Megaworld Corp. , Philippines - Metro , property , Real Estate

  • southernsky

    Dapat naman tumulong kayo sa pagpatayo ng mga infrastracture sa 8 islands o coves o shoals sa Spratly area isama na sa Panatag. Puro na lang kayo Makati. Tulongan ninyo ang Pilipinas na walang pondo.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Drunk passenger triggers Bali hijack alert
  • Businesswoman allegedly killed by husband, brother-in-law
  • Roxas suspended from golf club for outburst over P5,000 guest fee
  • SC reschedules oath-taking of new lawyers
  • Ex-COA chief seeks bail after arrest for plunder
  • Sports

  • Guiao fined P100,000 for ‘mongoloid’ comment vs Meralco forward
  • Hawks and Grizzlies revel in home wins
  • Floyd: Manny’s power gone
  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Plane lands at Bali airport in suspected hijacking—Indonesia air force
  • Obama lands in Seoul as N. Korea nuclear test fears grow
  • Militant protests vs Obama, US set
  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Marketplace