By: Amy R. Remo – Reporter /
Philippine Daily Inquirer / 02:12 AM January 25, 2020

 

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Inquirer president Alexandra Prieto-Romualdez expressed her gratitude to companies that supported the forum.—PHOTOS BY LEO M. SABANGAN

Outlook remains cautiously bullish, prospects continue to be bright, while most economic indicators point to a sustained, robust growth for the local real estate industry.

Add to the mix a strategic gameplan and you may have stakeholders and investors who are not only well equipped to anticipate and curb possible headwinds, but are also able to maximize the potentially lucrative opportunities presented by this highly dynamic sector.

Thus was the overriding theme of the discussions in the first Inquirer Property Forum entitled, “State of Real Estate: A Clear Vision for 2020,” which was held on Wednesday at the Manila Polo Club, Makati City.

Renowned industry experts Prof. Enrique Soriano III, executive director of Wong+ Bernstein Advisory Group, and Richard Raymundo, managing director of Colliers Interna-tional Philippines, were all forthright in forecasting the tailwinds, as well as in presenting the challenges that could potentially dampen growth amid an ever evolving real estate landscape.

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It was a full house for the first Inquirer Property forum.

Tailwinds, headwinds

Raymundo broke down his discussion into three to cover offices, residential and retail.

He reported that opportunities abound for the office property market given the growing presence of Philippine offshore gaming operators (Pogos), which are driving both demand and prices. For 2020, Colliers sees at least a third of all office space transactions coming from Pogos, which should contribute to acceleration of lease rates in key hubs (Bay Area, Ortigas Center, and Quezon City).

The ongoing expansion of business process outsourcing (BPO) and knowledge process outsourcing (KPO) companies amid uncertainties in the fiscal regime is also seen to help fuel the demand for office spaces. Other factors that may sustain growth include the growing popularity of—or preference for—flexible work-spaces, and the rise of the fringe locations that can offer a more affordable alternative to companies.

But what could potentially cloud the growth in this segment is the moratorium on Pogos in some cities and on the issuance of Philippine Economic Zone Authority (Peza) accreditations in Metro Manila, which was supposedly part of the government’s decentralization plan to push stronger economic activity in the suburban areas.

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Enrique Soriano III and Richard Raymundo (third and fourth from left) with Inquirer officials

On the residential space, Metro Manila continues to have enough room for growth as prices here remain “affordable” relative to other key cities.

Raymundo cited as an example Manila’s most expensive residential property today: The Estate Makati, which currently offers units priced at a whopping P550,000 per sqm. Residential prices in Bangkok, he said, are twice that of The Estate; Singapore’s three times higher; New York’s about 10 times; London’s 15 times; while the country’s neighbor Hong Kong is 20 times higher than The Estate’s average price level.

He further pointed out an emerging growth driver in this segment: the halfway houses and co-living spaces, which have become a more attractive option for those who normally have to endure four to six hours of horrendous traffic every day to go to work in central business districts and back home.

What may dampen growth, however, would be the moratorium on Pogos as their employees account for a chunk of condominium take up in Metro Manila; possible delays in the government’s infrastructure initiative; and the high land values which may hamper landbanking activities of developers.

Finally, the retail segment offers it own share of prospects and challenges for developers. Among the concerns cited was the possible demise of the department store once e-commerce, online shopping and digital experience take precedence eventually. While this may however be far into the future, it’s best for developers to find ways to integrate such features in their respective operations.

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Gameplan

While Raymundo focused on data and hard facts, Soriano meanwhile delved on the need to have clear-cut strategies to ensure that one is well equipped to thrive in a changing landscape.

According to Soriano, fast growing cities such as Metro Manila, will present a wider range of risk and return opportunities in real estate. But imperative to maximizing these opportunities would be to have a smart, ingenious gameplan that would harness the benefits of technology, incorporate innovation and sustainability in the company’s core operations, and would collaborate with the local and national governments.

As Soriano would often reiterate in his articles for Inquirer, a gameplan is a company’s best friend: the industry is fraught with uncertainties and competition is becoming intense.

It would also be imperative to take note of demographic shifts as well as changing preferences of today’s market, such as the growing need for pockets of nature and open spaces, energy efficient homes, sustainable communities and smart cities.

“Real estate players will need a higher degree of specialist expertise in their chosen areas and locations of activity, plus greater foresight to identify investment trends at an early stage within each market,” Soriano said in the forum.

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Feng shui tips

Inquirer columnist and Property Section ambassador Tessa Prieto-Valdes meanwhile surprised attendees with a brief talk about feng shui—how one can usher in luck into their homes and buildings in the Year of the Metal Rat, the first animal in the Chinese zodiac hierarchy.

Valdes offered practical tips (see story on page B2-2), while stressing to an animated audience the importance of positivity, particularly in the first 15 days of the new year, to attract luck throughout the next 12 years.

The forum was formally opened by Property Section editor Maria Theresa Samaniego, who urged property developers to build more sustainably as this was key to helping improve the lives of Filipino homeowners while future proofing cities.

Inquirer president Alexandra Prieto-Romualdez, in her closing remarks, meanwhile expressed gratitude to the companies that supported the forum including Anchor Land Holdings Inc., DataLand Inc., Megaworld Corp., Ortigas Land, Rockwell Land Corp., Sta. Lucia Land Inc. and Suntrust Properties Inc. Minor sponsors were Century Properties Inc., COHO by Vista Land and Federal Land.

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Romualdez and Inquirer officials with Teresa Isla of Megaworld Corp.

Source: https://business.inquirer.net/288995/state-of-real-estate-2020

By: Amy R. Remo – Reporter
Philippine Daily Inquirer / 04:00 AM March 21, 2020

 

It’s stating the obvious: the COVID-19 pandemic and the month-long, Luzon-wide quarantine imposed by the government would dampen the growth of the Philippine economy.

American investment bank JP Morgan Chase Bank had reported that it lowered the country’s full year gross domestic product (GDP) growth forecast to 5.1 percent year on year from a previous forecast of 6.2 percent, noting that “the impact of the COVID-19 outbreak on the Philippine economy may be larger than first anticipated.” Economists from Union Bank of the Philippines were reported to have said that the country’s 2020 GDP was seen to grow by only 5.4 percent, “as the enhanced community quarantine locked down 73 percent of the economy and restricted the movement of people.” Local and international stock markets likewise reeled from this pandemic, with downturns not seen since the last global financial crisis more than a decade ago.

Resilient industries

Despite all these, some quarters continue to be optimistic that there remained bright spots in the economy—with certain industries seen to be resilient amid the growing threat of COVID-19 on the health and lives of people, and the global economy.

Prof. Enrique Soriano III, executive director of Wong+Bernstein Advisory Group, pointed out that real estate is one of those resilient sectors, especially in the case of the Philippines where a huge demand for housing remains unmet.

 

“For the long term, I would still bet my last centavo on real estate. Real estate investing, when done right, will continue to be a local play for most investors. Unless you are a methodical stock market player, the risk is higher in capital markets as stock movements are heavily correlated to regional and global events,” Soriano said in an interview.

“The sector has been on an upswing for close to 10 years already. It is bound to slow down with or without COVID-19. Behaviorally, in any downturn, the real estate market will naturally correct itself. In due time, it will start picking up again. The upside is clear: it is a very resilient sector struggling to cover more than six million housing units. All these housing requirements are based on real demand,” he further said.
Soriano further pointed out that the COVID-19 pandemic is unlikely to have any significant impact on the supply of housing stock. Any prolonged uncertainty, however, will likely reduce demand and a decline in price points on selected geographies, and this slowdown—albeit a temporary one—may weigh heavily on housing developers with a limited capital base.

Still, there are plenty of bright spots, according to Soriano.

“Developers have now realized that technology is a business disruptor and they will be compelled to pursue a multitude of technological applications to boost safety in their housing projects and workplaces. Combining infrastructure with healthcare innovation will now be a powerful value driver both for survival and sustainability. In the end, technology will disrupt real estate economics making the complacent players obsolete,” he explained.

“It should be business as usual for investors. Managing the risk as a result of the current uncertainty is the only hurdle for property players to overcome,” Soriano further said.

7 trends

For its part, real estate service firm Santos Knight Frank pointed out that “despite the impact of COVID-19 and downturn in international stock markets, the Philippine real estate industry continues to have reasons to be optimistic.”

In a statement, Santos Knight Frank said this optimism stemmed from the seven trends seen to shape Philippine real estate in 2020. These include the roll out of real estate investment trust (REIT), which is seen to unlock a number of opportunities in the property market; continued expansion of business process outsourcing industry as fueled by healthcare, animation and game development; and the growth of co-working spaces.

Other trends include: developers’ new focus on sustainability as they become increasingly aware of their environmental impact; the growing requirements of industrial and logistics industries, which have turned their sights outside the capital region for new sites for expansion; Metro Manila remaining a prime residential market; and finally, the growth of co-living spaces, as well as the rise of the micro-studio as a halfway home for Metro Manila’s workforce.
Link Source:
 https://business.inquirer.net/293096/optimism-in-resilient-real-estate#ixzz6IoZsEKLC

investment in property in bgc
Philippines has become one of the hotspots for foreign property buyers in Southeast Asia. With favorable demographics and an increasing middle class, Metro Manila has undoubtedly seen the biggest interest.

Foreign corporations move to the region, setting up offices and operations in places like Cebu and Davao, where labor costs are low.

In this article, I explain how the Philippine property market has performed in the past years. I’ll also share my predictions on how I believe that the market will perform in 2020.

Keep in mind that foreseeing how a market will perform in the coming years is not the easiest task on hand. If you have any information you would like to share, you can share a comment at the end of the article.

The Property Market in Previous Years

Philippines real estate market has grown at an exceptional rate in the past years, following the path of the country’s strong economic growth, starting from 2010.

Looking at its office market, over 70,000 new office spaces were added to the Manila business districts in 2017, breaking a new record. Still, the vacancy rates remained low and at around 5%.

Despite seeing reduced economic growth in the first nine months of 2018, the office market performed well with a healthy supply and an average vacancy rate of 5%. Colliers anticipate that vacancy rates will remain at this level until 2021.

At the same time, rents will rise steadily by 8% annually until 2021.

The Market Remained Stable in 2019

Analysts forecasted a slow-down throughout 2019, but the market remained resilient. Many are certain that the real estate market will remain stable, even in the case of a global economic downturn.

Chinese companies, especially tech and gambling companies have opened plenty of new offices in Manila in the past years. These offshore gaming firms had a big impact on the exceptionally low vacancy rates in Manila’s central business district, despite the increase in supply.

There’s been a continuous rise of Chinese investors, driving the demand for property and pushing prices upwards. The companies don’t only buy or rent office space in business areas like Makati, but also buy residential properties for their employees.

Business Process Outsourcing (BPO) is also an important pillar of the economy and one of the country’s fastest-growing sectors. Numerous foreign companies target Philippines’ young and English-speaking talent pool.

The industrial property market is expected to see strong growth at the same time as the need for flexible workspace, such as co-working spaces, will increase significantly in the coming decade.

The Residential Property Market

The residential property market is still stable and prices continue to rise. According to Colliers, the average price for 3-bedroom luxury condominiums rose by more than 15% in 2018, to USD 4,371 per square meter.

Thus, it outperformed all previous years since 2013.

Having said that, it’s important that you buy in the right project and area as we’ve seen issues with oversupply of units and high vacancy rates.

According to JLL, the increased demand for residential units mainly come from young local professionals, upgrading families, and High-Net-Worth-Individuals (HNWIs) from overseas. We also see increasingly high remittances from Overseas Filipino Workers (OFWs).

Looking at condominiums, around 20,000 units were completed in the second quarter of 2019 with most of the supply allocated to Taguig and Makati. Pasay City will also see much growth until 2021 thanks to the increased investments in the Bay City.

From 2019 to 2021, Colliers International Philippines predicts that 8,300 new condominium units will be built yearly, amounting to 142,000 units by 2021. That’s a 33% increase compared to 2017.

In addition to Manila, we also see increased activities in emerging cities outside of Metro Manila, including Cebu, Iloilo, and Davao. Firms now outsource to other parts of the Philippines.

This will most likely have a positive impact on the local residential markets in the long-term.

Manila Property Prices

Property prices have increased much in Manila over the years. Below you can see the year-on-year price increase for 3-Bedroom Luxury condominiums in Makati from 2013 to 2018:

  • 2018 – 15.55%
  • 2017 – 10.4%
  • 2016 – 9.95%
  • 2015 – 13.43%
  • 2014 – 7.11%
  • 2013 – 14.37%

Overall, prices increased by 5.7% on average nationally in 2017, where we saw the highest increase for duplex houses, followed by condominium units. Prices for single-detached/attached houses fell slightly.

There was also a considerable difference in price increases in the NCR (National Capital Region) and areas outside of the NCR. In NCR, residential property prices increased by 8.8%, but the price increase was merely 3% in the rest of the country.

In 2018, luxury home prices increased by 11.1% year-over-year on average, the largest growth rate among 100 key global cities.

Is there a real estate bubble in the Philippines?

At the end of 2017, there was a growing concern that a housing bubble started to evolve, mainly due to the increased property prices and supply. However, in Q1 2018, the supply decreased significantly.

According to Colliers, the number of new housing units went from 27,000 to 12,700 per quarter during this time. At the same time, the vacancy rates improved much during the first two quarters of 2018.

Even if the economy was the slowest in years during the second quarter of 2019, the economy caught up and the real estate market remains strong.

It’s always difficult to predict when a real estate bubble will occur, but there are no signs that we will see a burst in 2020.

How will Philippines’s real estate market perform in 2020?

The real estate market seems to remain strong throughout 2020, where the commercial property market will play a vital role. The supply-to-demand remains at healthy levels and see increased investments in emerging cities outside of Metro Manila.

The increase of remittances from overseas Filipinos coupled with increased outsourcing operations from foreign companies all benefit the local market. We also see an increased purchasing power among local professionals where young professionals and wealthier families look for property investments.

The offshore gaming industry is also considered as one of the key drivers of the real estate market, both in the office and residential sectors. In 2018, the gross gaming revenue increased by 9.4%, which represents a flourishing industry backed by Chinese investors and gaming companies.

The Agency for Real Estate Affairs conducted interviews with many real estate experts during the Real Estate Expo in Manila in 2019. They and asked what their views are for the real estate market in 2020.

The results showed a more positive outlook for the property market in 2020 compared to 2019.

Is Philippines’ real estate market at its peak?

It’s always hard to say, but looking at the current climate and in fair terms, no. You might wonder if the continuous price increases seen over the last years tells us that the market has already reached its peak.

This is probably not the case, at least if you look back at the time of the Asian Financial Crisis in 1997. At that time, the property market went through a sharp decline. But if you compare recent prices adjusted by inflation, prices are still around 20% lower compared to 1997.

Looking historically, the market is still far from its historic peak, even if it crashed hard at that time. Having said that, it’s always hard to foresee a bubble and investors should make their investments wisely.

Future Supply of Property in the Philippines

Around 2.1 million square meters of office space will be added until 2020, where a majority will be dedicated to Makati, Pasig, and Taguig.

According to Colliers, 8.600 condominium units will be provided quarterly from 2019 to 2021, while the condominium vacancy rate will remain at around 12-13% during this time. Vacancy rates will remain at around 12-13% during this period.

The increase in rents will stay the same with only a marginal increase until 2021.

What is driving the demand of real estate in the Philippines?

There are several reasons why the real estate market continues to grow in the Philippines. Having one of the fastest-growing economies in Asia, I’ve listed some of the main drivers below.

1. Business Process Outsourcing

The Business Process Outsourcing (BPO) industry is one of the main drivers of the economy in the Philippines. Thanks to its young and English-speaking talent pool, increasingly more foreign companies turn to the Philippines when looking for outsourcing options.

The industry is predicted to double by 2020 and has grown exponentially. Firms from particularly the US, the UK, and Australia invest heavily in this industry.

2. Continuous Supply of Flexible Workspace

The flexible workspace industry is here to stay and will grow tremendously in the Philippines and other Asian countries in the coming decade. It’s said that 30% of all office space will be flexible work-space by 2030.

Colliers believes that the flexible workspace area will expand by 10% at a minimum in the coming three years. Co-working spaces will not only cater to small companies and digital nomads, but also to multinational and outsourcing companies that look for flexibility.

3. Increased Amount of Chinese Buyers

An increased number of Chinese buyers contributes to the current and future growth. According to Bloomberg, the gambling/gaming market has attracted around 100,000 Chinese workers to the Metro Manila area since September 2016.

4. High Remittances from Overseas Filipinos

Philippines is the third-largest recipient of foreign remittances in the world. Overseas Filipinos sent additionally USD 3 billion to their families in 2017 compared to 2016.

With a depreciating peso, and with the increase in foreign remittance, many families now have the purchasing power to buy and invest in the residential property market.

Summary

According to market statistics, previous trends, reports by leading real estate agencies like Colliers and JLL, Philippines remains an attractive spot for real estate investments in 2020.

Prices are increasing, the demand is high, and the market is growing at a sustainable pace, which is predicted to remain the same for the coming two years.

The key drivers are: Business Process Outsourcing (BPO) from multinational companies, demand from Chinese investors and other foreigners, increased purchasing power among locals, increasingly more remittance from overseas, and a flourishing gaming industry.

Yields are comparatively high and it’s generally easy to do business. You also have the option to apply for many long-term visas,, allowing you to stay indefinitely, with low requirements.

It’s always hard to predict the future, but with the information on hand, it seems like the Philippines will continue to perform well in 2020.

Philippines Real Estate Market Outlook 2020: A Complete Overview

February 22, 2020

It’s easy to get caught up in the frenzy and hustle of the city, that it often leaves you little time to attend to other needs, including your spiritual duties.

Fortunately for many of the country’s devout Catholics living in cities, parishes and chapels are being built within malls, near their offices and sometimes smack in the middle of public spaces to offer a place where they can nourish their spiritual needs. Over the decade, some property developers have shown to be increasingly mindful of this need, so much so that having places of worship became an integral part of their developments.

Kevin L. Tan, chief strategy officer of Megaworld Corp., shared that seven of their operational townships have either chapels or churches, with seating capacities ranging from 70 to 300.

“Places of worship are integral to the communities that we build. They complete our townships. We want our residents, our office workers, and even our mallgoers to have venues for spiritual growth and well-being,” Tan explained. “Most of our townships will have places of worship. They are either integrated within our malls, or some may have stand-alone structures.”

This coming Ash Wednesday, the working populace in the metro can easily visit any of these churches, as they seek to nourish and strengthen their faith amid today’s hectic, fast-paced lifestyle.

St. Raphael the Archangel Chapel

One of the newest churches in the city rises amid the hubbub of businesses, entertainment and lifestyle hubs. The St. Raphael’s Church, located at the Venice Grand Canal Mall in McKinley Hill, Taguig City, provides this township with a place of worship and reflection in the convenience and comfort of their own neighborhood.

The church—named after the Archangel Saint Raphael, whose name means “Medicine of God”—completes the triad of chapels named after archangels located in Fort Bonifacio. Characterized by a gothic style of architecture, this church draws inspiration from St. Mark’s Basilica, the cathedral church of the Archdiocese of Venice, Italy. At 785.14 sqm, the church can accommodate up to 300 people. Regular Masses are held every day.

St. Gabriel the Archangel Chapel

This chapel perched at the deck of Uptown Mall in Taguig City is also part of the triad of chapels in Fort Bonifacio that were named after archangels.

Apart from providing a place of solace amid the high rises in such a bustling district, St. Gabriel the Archangel Chapel’s visual aesthetics are outright appealing and eye-catching. The chapel features a high ceiling with a skylight in the shape of the Holy Cross, a roof shaped like a bishop’s hat, and tempered glass walls with glass fins and spider fittings. Opened in 2017, the 100-sqm chapel has a seating capacity of 120 persons.

Our Lady of the Most Holy Rosary Chapel

At the heart of Binondo and within the confines of the Lucky Chinatown Mall is a chapel that serves as a sanctuary for residents of Manila and mallgoers. The Our Lady of the Most Holy Rosary Chapel holds Mass Wednesdays and Sundays for the devout Catholics living and thriving in the oldest Chinatown in the world.

St. John Paul II Parish

Megaworld’s first and most successful integrated township is home to the St. John Paul II Parish, giving residents, office workers and mallgoers a quaint place of worship right within Eastwood City. Couples who usually favor a more intimate and solemn gathering are seen holding their weddings or the baptism of their child here.

Formerly known as the Holy Family Chapel, this parish sports a simple design characterized by its gray exteriors while its interiors feature white walls and a mix of golden and wooden fixtures that lend it a solemn ambience ideal for a quiet prayer.

Nourishing your faith in the city

Show your clients what you’re worth
Do your clients view your commission as hard-earned income or a jackpot paycheck? I would be willing to bet the majority view an agent’s income as the latter. There are a lot of agents out there who are searching hard to find ways to differentiate themselves from the masses.

With the increasingly high level of real estate agents that are competing for clients, how do you plan to demonstrate your value upfront to capture the missing business?

In short, you’ll need to differentiate yourself from the competition.

It’s important to know that with volume comes experience. 

We know that people buy people rather than product. If people like you, they are more likely to trust you. If they trust you, they will likely do business with you. Show them how many people have trusted you in the past and shared their positive experience.

 

 

February 17, 2020

Megaworld At The Fort Condominiums

AGI chairman Andrew Tan (left) and CEO Kevin Tan affirm the company’s commitment to sustainable development.

MANILA, Philippines — Alliance Global Group Inc. (AGI), the listed conglomerate of property tycoon Andrew Tan has committed to be carbon neutral by 2030.

Announcing the bold move, AGI chief executive officer Kevin Tan said the conglomerate wants to contribute to achieving the United Nations Sustainable Development Goals (UN SDG).

“We must start to become more conscious and responsible for the long-term social, economic, and environmental impact of our businesses. As a responsible corporate citizen, our decisions should no longer just be driven by what is good and profitable, but by what is right,” Tan said.

AGI recently held a one day sustainability summit where it also committed to generate at least five million direct and indirect jobs by 2030 as part of its contribution to the United Nations Sustainable Development Goals (UN SDG).

“Our collective strength as a conglomerate certainly gives us the ability to make these positive changes happen,” Tan said.

Companies under AGI – Megaworld Corp. for real estate; Emperador Inc. for liquor; Travellers International Hotel Group for gaming, entertainment and hotels; Golden Arches Development Corp. for quick service restaurants under the McDonald’s brand; and Infracorp Development Inc. for infrastructure, rolled out various programs and activities to support SDG, goals at the recent SustainAGIlity Summit hosted by the conglomerate at Hilton Manila.

At present, AGI employs over 80,000 people in its various businesses across the country.

Of the different companies, Megaworld and its subsidiaries Empire East Land Holdings Inc. (EELHI), Global-Estate Resorts Inc. (GERI), and Suntrust Properties Inc. (SPI), which employ over 5,000 people, are in charge of developing townships and communities.

It has committed to create around three million direct and indirect jobs in its various developments across the country within 10 years.

Emperador, meanwhile, seeks to continue utilizing technologies that save water and reduce emission.

These include the use of renewable energy, particularly biomass and solar, for their vineyards and distilleries in Spain, Mexico, and the Philippines; and the use of water conservation methods for irrigation of vineyards in Spain and Mexico.

Travellers International has likewise committed to employ more locals in its casino and hotel operations.

Another company, Golden Arches Development Corp., which operates McDonald’s Philippines, has started rolling out reusable packaging, solar rooftops and use of ecobricks in some of its stores, and reinforced waste segregation system.

The United Nations Sustainability Goals include ending poverty, using clean energy and engaging in responsible consumption and production among other goals by 2030.

This article was first published in philstar.com | Words by Iris Gonzales

November 13, 2019

Profits soar 17% to record high of P13.7-B as rental, hotel businesses register unprecedented growth

Megaworld, the country’s largest developer of integrated urban townships and the biggest landlord of office spaces, registered a net income of P13.7-billion during the first nine months of the year, up 17% compared to P11.7-billion during the same period last year. Excluding non-recurring gain of P189-million, net income grew by 16% to a new record high of P13.5-billion. Net income attributable to parent company stood at P12.8-billion over the same period, growing 14% from P11.3-billion the year before.

Consolidated revenues during the nine-month period of 2019 rose at a robust pace of 17% to P48.1-billion from P41.3-billion, attributed to the strong performance of its core businesses.
alliance-global-tower-uptown-bonifacio-taguig
The company’s real estate sales grew 11% for the period this year, ending at P30.7-billion from P27.6 billion during the same period last year.

As of end-September, Megaworld launched a total of P58.7-billion in new residential inventory while reservation sales reached P114-billion.

“Megaworld’s consistent growth across all business segments is a clear indicator of where the company is going, and we are very optimistic to finish the year strong. We have already introduced quite a number of real estate projects this year, which reflects the kind of demand that we have been seeing since last year. Megaworld will always be market driven, and as long as we see this type of demand on the ground, then we will continue to launch projects aggressively,” says Kevin L. Tan, chief strategy officer, Megaworld.
venice-luxury-residences-mckinley-hill-taguig
The company’s robust rental income greatly helped sustain earnings growth on the back of strong leasing from Megaworld Premier Offices and Megaworld Lifestyle Malls.

The first three quarters saw its rental income surging to P12.4-billion from P10.5-billion during the same period last year, exhibiting a 19% growth year-on-year.

Megaworld is set to further solidify its position as the leader in office developments in terms of total office space inventory by completing another 192,000 square meters of office spaces this year.
science-hub-mckinley-hill-taguig
By the end of 2020, the company will breach the two-million square meter mark in its office space portfolio with the completion of new state-of-the-art office towers in Uptown Bonifacio, McKinley West, Iloilo Business Park, and ArcoVia City, cementing its position as the country’s largest office developer and landlord.

The company is also set to build four new full-scale malls: The Capital Mall in Capital Town, Pampanga; Mactan Newtown Beach Walk in The Mactan Newtown, Cebu; Upper East Mall in The Upper East in Bacolod City; and Highland Mall in Highland City in Cainta, Rizal.

All these new commercial properties are expected to be completed within the next three years.
mactan-newtown-beach
“Our rental business remains to be a key driver to our consistent growth, and we see this to become stronger in the coming years as we roll out more office and retail spaces in our townships across the country,” explains Tan.

Meanwhile, the company’s hotel business became the fastest-growing segment during the first nine months of 2019 as hotel revenues soared 82% to P1.9-billion compared to last year’s P1.0-billion due to the increase in its hotel room capacity through the homegrown brands of Megaworld Hotels.

“In the long term, we see our hotel operations to be a major contributor to our growth as we continue to accelerate our hotel developments. With over 3,500 hotel room keys, Megaworld is not just making its presence felt, but more notably, complementing the government’s thrust to attract 12 million international tourists by 2022,” adds Tan.
twin-lakes-hotel-laurel-batangas
To date, Megaworld already has 25 master-planned townships and integrated lifestyle communities across the country, namely: Eastwood City in Libis, 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 (5 hectares), all in Fort Bonifacio, Taguig City; The Mactan Newtown in Lapu-Lapu City, Cebu (30 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares); Boracay Newcoast in Boracay Island (150 hectares); Twin Lakes in Laurel, Batangas near Tagaytay (1,200 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); Eastland Heights in Antipolo, Rizal (640 hectares); Suntrust Ecotown in Tanza, Cavite (350 hectares); Maple Grove in General Trias,Cavite (140 hectares); The Hamptons Caliraya in Lumban-Cavinti, Laguna (300 hectares); The Upper East (34 hectares) in Bacolod City, Northill Gateway (50 hectares) in Bacolod-Talisay, Negros Occidental; Capital Town Pampanga beside the Pampanga Provincial Capitol in the City of San Fernando (35.6-hectares); Westside City in the Entertainment City in Parañaque City (31 hectares); Highland City in Cainta, Rizal (24 hectares); and Arden Botanical Estate located at the boundary of Trece Martires City and Municipality of Tanza in Cavite (251 hectares).

https://www.megaworldcorp.com/news-and-updates/double-digit-growth-core-businesses-boost-megaworlds-9-mo-profits-anew?fbclid=IwAR2nq40P8gpbthVhXWhuct6UhQNwV830g9r7B9Au4vree568KkjuDs51E5E

Source: http://www.pinoyformosa.com/2019/12/nlex-slex-connector-road-to-open-march.html

Skyway Stage 3, also known as the SLEX-NLEX connector road will open to the public by March 2020 and will ease the traffic congestion build up in Metro Manila.
Ramon Ang, president and chief operating officer of San Miguel Corp,the conglomerate building the project, confirms the opening of the new road.

“Yung solution na ‘yan, pag nayari na ‘yan ng March 30, 2020, wala nang traffic yung northbound at southbound,” Ramon Ang said in an interview with DZMM

The road that will connect the two most important tollways leading in and out of Metro Manila. it will allow motorists from the North and South of the capital to bypass major thoroughfares like EDSA and C5.

Skyway Stage 3 is a 14.8-kilometer elevated tollway project connecting Skyway/SLEX Buendia to NLEX Balintawak.
HOT & PRIME LOCATION, FORT BONIFACIO: Megaworld’s Most Newest Residential Developments!
Preselling Condominiums
 
A.) PARK MCKINLEY WEST (Ready on 2023)
Location: Mckinley West
Address: Le Grand Ave. Mckinley West
SCHEDULE SITE VIEWING (+63) 917 687 0127
4 years payable with 0% interest rate until turnover on year 2023.
 
B.) UPTOWN ARTS RESIDENCE (Ready on 2024)
Location: Uptown Bonifacio
Address: 9th Ave. BGC
SCHEDULE SITE VIEWING (+63) 917 687 0127
5 years payable with 0% interest rate until turnover on year 2024.
 
– – – PROMOS – – –
A.) NO DOWNPAYMENT PROMO TERMS!
Starts Php 30,000 Per Month
0% interest until turnover.
4 to 5 years installment.
 
B.) RESERVE NOW, PAY NEXT YEAR PROMO!
Php 60,000 reservation for securing the unit.
Start monthly on January 30, 2020.
*Secure the current price, promos and discounts!
(Limited 100 Slots Only.)
 
– – – WHO TO LOOK FOR – – –
LOOK FOR DARYLL
Daryll is an Assistant Sales Manager at Megaworld At the Fort (Marketing 1). She handles the sales of residential units of Megaworld Corporation in Fort Bonifacio, only in Uptown Bonifacio, Mckinley West and Mckinley Hill. Plus: Westside City and Mactan Cebu condotel.
 
– – – CONTACT DETAILS – – –
Mobile/Viber/Whatsapp: (+63) 917 687 0127
WeChat: (+63) 906 370 7486
Email: daryllpua.megaworld@gmail.com

Megaworld Corporation is proudly offering its newest launched condominium in Mckinley West, Fort Bonifacio – The Park Mckinley West.

The Park Mckinley West will be ready by year 2023 and we can still secure its current price before its turnover on year 2023. Reserve a unit now before price increase. Around an estimate of 8% to 10% annual price increase occurs for the Fort Bonifacio residences of Megaworld Corporation.

The Mckinley West where Park Mckinley West is situated is neighboring elite communities, such as Forbes Park, Manila Polo Club, and Manila Golf Club.

In the Mckinley West 34.5 Hectare Live-Work-Shop township, we have captured rental market in the multinational offices already in the township and from the ones to be built. The Metro Manila Subway will also have a Mckinley West station called Lawton East next to the McDonald’s fast food restaurant in Mckinley West.

In additional to a lot of factors why the right time to invest in Park Mckinley West is now, there will be a huge 24,435 sqm bi-level mall to come in Park Mckinley West’s podium. This mall will just be along major access road, Lawton Avenue being widened to 6 lanes. We can get unobstructed Makati skyline view from Mckinley West in Fort Bonifacio.

Ranging from units at 35 sqm to 336 sqm which are one bedrooms to five bedroom penthouse suites, October 2019 provides us with a deadline on the 30th day of the project’s “No Downpayment Promo Term.” This promo terms offers us to rotate our funds while securing a great catch!

The promo term’s lowest starts at Php 30,000 Per Month, payable in 4 years time at 0% interest until turnover on year 2023.

For priority site viewing, appointment, and reservations, feel free to inquire to Ms. Daryll Joyce Pua:

(+63) 917 687 0127 Mobile / Viber / WhatsApp / Line / KakaoTalk / Telegram

(+63) 906 370 7486 WeChat

Email: daryllpua.megaworld@gmail.com

Website: http://www.megaworldfortestate.com