MANILA, Philippines—Property tycoon Andrew Tan-led Megaworld Corp. announced on Wednesday that it had sold residential 10,451 units worth about P37.1 billion in 2011, thus claiming to be the biggest residential developer in the country for the year.
In a disclosure to the Philippine Stock Exchange on Wednesday, the Megaworld said the residential units sold in 2011 had translated to a total saleable area of more than 400,000 square meters for the full year 2011.
“The total saleable area represents at least a 35 percent lead over our closest competitor,” the Megaworld disclosure said.
Based on these indicators, Megaworld thus claimed it’s the “number one” residential developer in terms of units, sales value and total saleable area for the whole year of 2011.
Megaworld attributed such “phenomenal” sales growth to its “superior” portfolio and “sterling” track record in the Philippine property market.
Megaworld is a pioneering developer of integrated live-work-play-learn township communities in the country. It has seven such mega-community projects on the rise in the most strategic locations in Metro Manila, namely, Eastwood City and Manhattan Garden City in Quezon City; McKinley Hill, McKinley West and Bonifacio Uptown in Fort Bonifacio; and Newport City in Pasay City. It also recently launched its first project in Cebu called Mactan Newtown.
For more than 20 years, Megaworld Group has been the country’s No. 1 real estate organization with more than 225 residential and office buildings completed with a total floor area of around 5.5 million square meters.