MANILA, Philippines–Property tycoon Andrew Tan-led Megaworld Corp. has kept its bragging right as the Philippines’ top residential condominium in over a decade accounting for about a 16 percent market share in this competitive industry, based on the latest property by property consultant CB Richard Ellis Philippines.
Citing the CBRE research, Megaworld disclosed to the Philippine Stock Exchange that it was recognized for launching the most residential condominium units from 2000 to 2011 which numbered more than 40,000.
The overall volume of units launched by Megaworld in the same period represented an estimated total aggregate saleable area of about 1.9 million square meters or 17 percent of the market.
Colliers International had also previously cited Megaworld as the top residential developer in the country based on the number of residential units completed and to be completed until 2016 and the total aggregate saleable area.
“Megaworld has the distinction of being recognized by two international real estate services firms as the No.1 residential condominium developer.
This is a testament to the company’s dedication to address on a large scale the Filipinos’ need for quality homes in the very best locations,” said Megaworld senior vice president Francis Canuto.
In 2011 alone, Megaworld added to the market new inventory from eight new projects: One Eastwood Avenue in the 18-hectare Eastwood City township in Quezon City; 101 Newport Boulevard and Belmont Luxury Hotel in the 25-ha Newport City in Pasay City; One Uptown Residence in the new 16-ha Uptown
Bonifacio in the Global City; Tower 1 of The Viceroy in the 50-ha McKinley Hill in Fort Bonifacio; the second tower of Manhattan Heights, the third phase of the 5.7-ha Manhattan Garden City at the Araneta Center; the 31-story Greenbelt Hamilton in the Makati CBD; and Eight Newtown Boulevard,
Megaworld’s first luxury residential project in Mactan, Cebu.
“We at Megaworld aim to open the year 2012 on a strong note. We are set to launch eleven residential projects in the first half of 2012.” said Canuto.
Megaworld also aims for a wider range of customers through the projects of its subsidiaries, Empire East Land Holdings Inc. and Suntrust Properties Inc.
For the first nine months of 2011, the Megaworld group, through these two companies, has sold more than 7,400 residential units amounting to P27.8 billion, the disclosure said.