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Megaworld’s H1 reservation sales at P38B

/ 11:43 AM July 21, 2020

Megaworld group’s 640-hectare Eastland Heights in Antipolo against the backdrop of the Metro Manila skyline

Tycoon Andrew Tan-led Megaworld Corp. generated P38 billion in residential sales in the first semester despite the lockdown protocols imposed on Metro Manila and other key regions starting mid-March when the coronavirus pandemic hit the country.

For the second quarter alone – during which most of the lockdown happened – the Megaworld Group reported about P17 billion in reservation sales as the group used the digital space to continue selling residential units.

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The reservation sales level is an indicator of the kind of revenues the developer will book in the coming years depending on construction progress.

“While the method of selling real estate during quarantine period was quite challenging, our digital sales strategies that we’ve been working on since two years ago paved the way for faster, smoother and safer transactions, and client engagements. We thank all our customers for the trust and confidence even during this time,” Lourdes Gutierrez-Alfonso, chief operating officer at Megaworld, said in a disclosure to the Philippine Stock Exchange on Tuesday.

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Reservation sales in June alone peaked at P7 billion as Megaworld reported brisk demand for residential lots in in Cavite, Laguna and Rizal, as well as residential units in Boracay Newcoast and Iloilo Business Park.

Megaworld’s provincial properties made up most of the sales posted during the second quarter.

The group’s Arden Botanical Estate in Cavite, Eastland Heights in Antipolo, Rizal, Hamptons Caliraya in Laguna, McKinley Hill and McKinley West in Taguig, as well as projects in Makati City and Pasig City contributed to the bulk of reservation sales during the first six months.

“Even during the ‘enhanced community quarantine’ in Luzon during the second quarter, we received a lot of inquiries and reservations via our online channels mostly coming from the upper mid-market,” said Gutierrez-Alfonso.

With the reopening of its showrooms for residential projects across the country, Megaworld has assured that “enhanced” safety protocols are in place, such as pre-visit registration, contactless payments, document sanitation, and digital presentations.

These are on top of the standard regular disinfection of the showroom premises and equipment. Clients who visit showrooms are also given their own hygiene kits for personal safety.

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TAGS: Andrew Tan, MEG, Megaworld Corp.
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