In a statement on Monday, the property giant announced plans to launch two more integrated estates in 2025 in undisclosed locations with a land footprint of more than 300 hectares.
This is comparable in size to the four townships introduced during the past year.
Management’s view
“Aligned with Alliance Global Group’s (AGI) vision on tourism, many of these Megaworld townships are drivers of tourism in their respective locations,” said Kevin Tan, president and CEO of AGI, the parent company of Megaworld.
“We build hotels, museums, resorts, malls, sports and leisure facilities, and many other attractions within our townships to support our country’s tourism industry,” he added.
Township pioneer
Megaworld ended the past year with 35 integrated estates, including four launched in 2024 alone.
These were Lian Golf and Beach Estates in Lian, Batangas; San Benito Private Estate in Lipa, Batangas; Ilocandia Coastown in Laoag City, Ilocos Norte, and The Upper Central in Cagayan de Oro City.
Megaworld’s townships are primarily located in the provinces, with 69 percent across 16 in Luzon, six in the Visayas, and two in Mindanao, while 31 percent are in Metro Manila.
The two projects this year will focus on Luzon and Visayas.
“As we work towards helping cities grow their local economies and provide job opportunities, we are focused on further expanding our township portfolio in the regions. These two townships have expansive land areas which will further boost our land bank,” said Lourdes Gutierrez-Alfonso, president of Megaworld.
Diversified growth
Megaworld’s township strategy also helps protect earnings against cyclical downturns in certain segments.
During the first nine months of 2024, it reported a 16-percent net income increase to P15.69 billion, while third-quarter net income surged 26 percent year-on-year to P5.87 billion.
Revenues hit P59.78 billion over nine months, up 23 percent, fueled by strategic expansion in residential, leasing, and hotel operations. Third-quarter revenues rose 25 percent to P20.69 billion.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.