Tycoon Kevin Tan-backed Megaworld Corp. is rolling out six new hotels across the Philippines over the next three years, adding nearly 2,000 rooms as the property giant deepens its bet on tourism and recurring income businesses.
Megaworld Corp. is accelerating its push outside Metro Manila with more than 51,000 square meters of new office space planned across Bulacan, Bacolod and Davao as developers chase faster-growing provincial demand from BPO and multinational tenants.
Leisure-focused Global-Estate Resorts Inc. (GERI) is turning over more than P11 billion worth of residential and commercial projects this year, highlighting the company’s push to deliver completed developments to buyers despite a softer property market.
Megaworld posted a steady first quarter, with all core businesses — especially its recurring income streams — firmly in the green, underscoring resilience despite external headwinds. The property giant grew net income by 6 percent to P6.2 billion, supported by broad-based gains across leasing, hospitality, and residential operations.
Megaworld Corp. is doubling down on northern Luzon, unveiling plans for a flagship beach club inside its Ilocandia Coastown township in Laoag City, signaling stronger confidence in regional tourism and second-home demand.
MREIT, the real estate investment trust unit of Megaworld Corp., delivered an all-time high first-quarter performance, with distributable income surging 34 percent to P1.25 billion as its expanded asset base amplified earnings and margins.
Megaworld is accelerating project completions nationwide, with about P21 billion worth of big-ticket properties slated for turnover this year, reinforcing its push across integrated townships.
Megaworld is deepening its tourism push in the Visayas with the launch of Belmont Hotel Iloilo, its third hospitality development inside the 72-hectare Iloilo Business Park, reinforcing the township’s role as a regional travel and business hub.