Megaworld Sets P50B CapEx, To Launch New Townships This Year

Megaworld is allocating P50 billion for capital spending this year, 39% more than last year, as the company anticipates improved mobility and a more revitalized economy.

Photo Insert: Company is launching 14 new projects with a total sales value of P30-billion

Around 75% will be spent on real estate developments, particularly the construction of new residential properties and township land development, while the remaining 25% will be used for investment properties and land banking.

Last year, actual capital spending reached around P38 billion, nearly 6% higher than planned spending, as eased restrictions allowed construction activities to resume during the period.

“We have accelerated some projects to pave the way for opportunities coming from the pandemic recovery,” says Kevin L. Tan, chief strategy officer, Megaworld.

Along with increased CAPEX this year, the company will also open four (4) new townships across the country: one in Metro Manila, two in CALABARZON, and one in Mindanao. These new townships will occupy approximately 500 hectares of land, which will be added to the company's existing land bank of approximately 4,500 hectares.

“This will bring the total number of Megaworld’s townships to 32 this year. We look forward to further expanding our portfolio of residential, office, hotel, and mall properties in these new areas that are considered among the key growth centers in the country today,” says Tan.

The Group also plans to launch 14 new residential and commercial lot projects totaling P30 billion in sales.

These new developments including Maple Grove and Arden Botanical Estate in Cavite; Eastland Heights in Rizal; The Hamptons Caliraya in Laguna; The Upper East in Bacolod; Iloilo Business Park in Iloilo City; Capital Town in Pampanga; McKinley West in Taguig City; Alabang West in Las Piñas City; Arcovia City in Pasig City; Paragua Coastown in Palawan; Northwin Global City in Bulacan; and another one in Makati City.

Megaworld currently operates 28 integrated urban townships, integrated lifestyle communities, and lifestyle estates in approximately 30 cities throughout the country.

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