Megaworld to unveil four new townships in its 35th year, marking 35 integrated estates

Tycoon Andrew Tan’s property giant Megaworld Corp. will open four more townships this year to end with 35 integrated estates as it celebrates its 35th anniversary. 

Andrew Tan

Megaworld CEO

Megaworld is a pioneer in the urban township concept, having launched the 18.5-hectare Eastwood City in Quezon City in the mid 1990s.

“This year, we hope to finish 2024 with 35 townships to coincide with our 35 years in the Philippine real estate industry,” he added. 

First quarter earnings 

This comes as the builder reported a 8 percent profit increase to P4.4  billion during the first quarter of 2024. 

Total revenues also grew 16 percent to nearly P19 billion as core businesses delivered robust growth.  

Its real estate sales jumped 29 percent to P12.1 billion due to strong bookings and unit sales, while leasing revenues increased by 6 percent to P4.6 billion. Mall revenues grew 20 percent to P1.5 billion while offices were flat at P3.2 billion.  

The developer’s Megaworld Hotels & Resorts also saw a 39 percent revenue increase to P1.1 billion during the period.