Megaworld Corporation Megaworld CorporationThe year 2011 put tycoon Andrew Tan’s Megaworld Corp. on the world property market map with its recognition by two leading global property consultants as the country’s top residential condominium developer. The Colliers International research cited Megaworld as the largest builder of residential condos in terms of units completed in 2010 and those that will be completed between 2011 and 2016. Leading property consultant CB Richard Ellis gave Megaworld the same recognition for launching more than 40,000 condo units between 2001 and 2011. However, even before this achievement, Megaworld has pioneered the mixed-use development of real estate in the form of community townships that fuse the live-work-play concept with the demands of BPO firms. Its Eastwood City township project with its cyberpark, residential condo towers, and mall has transformed Libis, Quezon City into one of the emerging business districts in the metro. Eastwood City Libis Eastwood City – the place to be for both work and play in Libis, Quezon City. Image courtesy of Skycrapercity. Other landmark projects such as McKinley Hill and Forbes Town Center cater to an international clientele and contribute to the emergence of Bonifacio Global City in Taguig as a progressive business district next to Makati CBD. Another project, Newport City in Pasay, combines residential development with hotels and a themed entertainment and commercial hub. In 2011, Megaworld unveiled a total of 8 new projects – mostly luxury condos in the business districts of the metro (specifically in Eastwood City, Newport City, Bonifacio Global City, Araneta Center, and Makati and one in Mactan, Cebu). In 2012, Megaworld earmarked P25-billion to develop ongoing projects while investing P65-billion to further develop Uptown Bonifacio for the next 20 years. It topped off its 2012 achievements with its turnover in December of Greenbelt Madison in Legaspi Village, a luxury condo with fully-furnished units that are ready for occupancy. This 2013, Megaworld allocated P25-billion to develop its latest integrated township project in the West Visayas, the 54-hectare Iloilo Business Park slated for completion by 2015. While the Megaworld brand caters to the upscale segment, its two subsidiaries, Empire East Land Holdings and Suntrust Properties, seek a wider range of housing customers. Empire East Land Holdings, Inc. targets the middle-income housing segment with township residential projects located in and out of the metro. Last July 2012, it partnered with the Kazuo Okada Group for a joint venture to develop a P45-billion luxury condo project in Pagcor Entertainment City. Meanwhile, Suntrust Properties, Inc. has won several awards in economic housing development. It offers affordable homes which serve low- to moderate-income families. Although its township projects are located in Cavite and Laguna, Suntrust Properties also have ongoing condo projects in the metro. Its latest projects are Suntrust Shanata in Quirino Avenue and Suntrust Capitol Plaza in Diliman, Quezon City, both undergoing construction.
Posted on: Sun, 26 Oct 2014 07:08:03 +0000
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