Tycoon Kevin Tan, who heads Megaworld Corp., is taking notice and seizing an opportunity to ride this shift by making electric vehicle parking slots a standard feature in all new Megaworld residential buildings.
This strategy involves allocating at least 5 percent of parking slots in new Megaworld condo developments, including dedicated EV-charging stations, allowing residents to conveniently charge their cars at home.
Condo parking slots are prized real estate, even more so with limited EV allocations. Pricing will depend on location, but EV-ready slots will cost around 30 percent more than the standard price.
Fast-growing segment
While still in its early stages, the EV market is seeing a surge in sales as buyers become more familiar with the technology and charging stations continue to roll out.
BYD, which is distributed by Jaime Alfonso Zobel de Ayala-led AC Mobility, saw sales jump 8,900 percent to about 4,780 vehicles in 2024, a report by the Philippine Star showed.
Tan’s support for EVs is apparent, with tech billionaire Elon Musk’s Tesla choosing Megaworld’s Uptown Mall in Taguig as the site for its first Supercharger in the Philippines.
The first EV-ready Megaworld condos are already rising in Taguig, Cavite, Pampanga, and Bacolod, with more coming soon.
New feature for bikers
Meanwhile, another feature that has become a standard deliverable in Megaworld’s new residential condos is bike parking facilities.
After all, EVs might be the future, but old-fashioned bikes never go out of style.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
