Megaworld, the country’s largest developer of integrated
urban townships and the biggest lessor of office spaces, has breached the
P10-billion mark in net core income for 2015. The company’s core profit reached P10.40-billion
(net of P181-million non-recurring gain from P10.58-billion), up 10.58%from
last year’s P9.40-billion (net of P12.16-billion non-recurring gain).
“We already have a strong roster of townships across
Luzon, Visayas and Mindanao that are backed by adequate landbanking and
carefully-thought master plans. We have already mastered the art of township
development. What we want to put focus on now is how to further grow our rental
portfolio, which is integral to being a township developer. Malls and offices
are key components of an urban township,“says Francis Canuto, chief finance
officer, Megaworld.
Megaworld’s consolidated revenues, excluding
non-recurring gains, grew 9.37% year-on-year in 2015 to P44.81-billion from the
previous year’s P40.97-billion. Each of Megaworld’s core business -
residential, rental and hotel operations– hit double-digit growth in 2015.
Megaworld’s leasing business has been the fastest growing
business segment in 2015, as rental income grew to a remarkable 23.46%.Leasing
income from malls, commercial centers, and offices reached P8.73-billion in
2015 from P7.07-billion the previous year.
“Our rental business had been growing exponentially the
last five years. We are confident that we will reach the P11-billion target by
the end of this year as we see continuous growth in consumer spending as well
as further expansion of BPO companies, particularly in key growth areas in
Visayas and Mindanao where Megaworld is already present, ” adds Canuto.
The company launched five townships in 2015,
bringing its total township developments across the country to 20. These are Iloilo Business Park (72 hectares) and Sta. Barbara Heights (173 hectares), both in Iloilo; BoracayNewcoast in Boracay Island (150 hectares); Eastwood
City in Quezon City, (18.5 hectares); Newport City in Pasay City (25 hectares);
McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio
(15.4 hectares) and Forbes Town Center (5 hectares), all in Fort Bonifacio; and The
Mactan Newtown in Cebu (28.8 hectares).It also developed Twin Lakes in Tagaytay (1,300 hectares); ArcoVia City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Piñas City (62 hectares); SuntrustEcotown in Tanza, Cavite (350 hectares) and The Upper East (34 hectares) and Northill Gateway (50 hectares) both in Negros Occidental; a vast property beside the Pampanga Provincial Capitol in the City of San Fernando (35.6-hectares); and Westside City in the Entertainment City in Paranaque (31 hectares.)
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