Megaworld eyes 8 new projects in 2025
INQUIRER FILE PHOTO
MANILA, Philippines – Megaworld Corp. will launch up to eight new residential projects this year. The developer is still banking on strong demand outside Metro Manila to drive growth.
Andy dela Cruz on Friday said only one of their pipeline projects would rise within the National Capital Region (NCR). He heads investor relations at Megaworld.
“We are opening more and more townships outside Metro Manila,” Dela Cruz said during the Philippine Stock Exchange’s Investor Day event.
READ: Megaworld income up 16% on growth of core businesses
He added that Megaworld would unveil two new townships within the year, one each in Luzon and the Visayas. The company is the real estate arm of conglomerate Alliance Global Group Inc.
“Demand for residential properties is still healthy, in that it maintains a strong share in terms of our overall portfolio,” Dela Cruz said.
“We will continue to grow our real estate portfolio, and we are still focusing on tapping areas where we have not reached before,” he added.
Megaworld currently has 35 townships across the country — with four built in 2024 alone — along with a land bank spanning 7,000 hectares.
Real estate broker Colliers Philippines reported that residential vacancy in Metro Manila is expected to reach an all-time high of 26 percent by the end of the year. This is due to the “substantial new supply” coming up. This is expected along with the full impact of the exit of Philippine offshore gaming operators taking effect.
Megaworld earlier said it would launch P20-billion worth of projects this year, anticipating P130 billion in reservation sales.
Its pipeline consists of 139,000 square meters (sq m) of office space and 151,000 sq m of mall space until 2026. There are also 3,550 additional hotel rooms — all coming through 2029.
In the January to March period, Megaworld’s townships outside the NCR buoyed its bottom line by 16 percent to P5.83 billion.
The Andrew Tan-led developer’s revenues likewise expanded by 11 percent to P20.93 billion.
Revenues from real estate sales rose by 8 percent to P13.09 billion. This was driven by projects in Metro Manila and the provinces.
