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Megaworld dev’t targets P5-B sale
Property developer Megaworld Corp. led by tycoon Andrew Tan is expecting to generate P5 billion in sales from building its fifth residential condominium development inside its 34-hectare Upper East township in Bacolod City. In a stock report on Wednesday, the company said the 26-story Kensington Sky Garden, scheduled for completion in 2029, will be the tallest residential development among its Visayas townships to date. The venture will be a two-tower residential development offering 643 smart home units located at the corner of Upper East Avenue and Bentley Street, just across the newly-opened Landers Superstore. Carrying a unique design that reflects Victorian era influences in New York — a city where The Upper East draws much of its inspiration — Kensington Sky Gardens units range from from Studio and Executive Studio (up to 40 square meters), One Bedroom (up to 56 square meters), Two Bedroom (up to 90 square meters), and Three Bedroom (up to 110 square meters). All unit sizes have either a balcony or a lanai. E Vehicle facility set According to Megaworld, the project is planned to have an electric vehicle-charging facility in its basement parking area, the first of its kind in Bacolod City, in preparation for the influx of electric and hybrid cars soon. Other green and sustainability features include low flow rate fixtures to promote water conservation, occupancy sensors in hallways and parking floors that help conserve energy, LED lights for units and common areas, a rainwater harvesting system, and its own materials recovery facility. The post Megaworld dev’t targets P5-B sale appeared first on Daily Tribune......»»
Championing ‘Sampaguita’ hospitality
Megaworld Hotels & Resorts is bringing in a Filipino touch to its signature brand of hospitality. Sampaguita, the Philippines’ national flower, is Megaworld’s new brand symbol in promoting sustainable tourism, hospitality and agriculture — all part of the company’s thrust toward providing a unique and proudly Filipino guest experience. “Megaworld Hotels & Resorts resonates with the values of the country’s national flower, namely love, honor, dignity and healing. We desire for our brand to stand out and touch the heart of every Filipino, and be the brand that one can be truly proud of. It’s our goal to be the hospitality chain whose story people can relate with because our journey mirrors what every Filipino undergoes, yet comes out stronger from,” Cleofe Albiso, Megaworld Hotels & Resorts managing director said. [caption id="attachment_181097" align="aligncenter" width="650"] SAVOY Hotel Manila.[/caption] She added, Sampaguita artworks will greet guests on entrance, with the staff donning the flower’s pins painted with colors of the Philippine flag. Guests will also get a whiff of a specially-concocted sampaguita scent with notes of fresh herbs, eucalyptus and peppermint during their stay. Exclusive and new dishes infused with sampaguita essence, such as salads, soups, mains and desserts, will be offered at the different Megaworld hotel restaurants and cafes. Meanwhile, guests who wish to have a soothing, relaxing massage can opt to use sampaguita massage oils in one of the spa’s or room service. They can also choose to end their session with a cup of SaMaRra tea with flavors of sampaguita, mango and tarragon to provide healing from the inside. [caption id="attachment_181098" align="aligncenter" width="1589"] Sampaguita, the Philippines’ national flower, is Megaworld’s new brand symbol in promoting sustainable tourism, hospitality and agriculture.[/caption] Reviving the Sampaguita industry Megaworld Hotels & Resorts has partnered with Dwellbeing, a sustainable, private enterprise led by visionary women. It provides jobs to challenged sectors of society by converting used bottles to create organic home cleaning products and scents. Through this, Dwellbeing is able to continue its advocacy of feeding families through “Project Pearls” that provide employment to the deaf and mute in partnership with the Hand and Heart Organization. Raw materials will be sourced in collaboration with the local government of San Pedro, Laguna, the “Sampaguita Capital of the Philippines.” [caption id="attachment_181099" align="aligncenter" width="1024"] PHOTOGRAPHS COURTESY OF MEGAWORLDBELMONT Manila.[/caption] [caption id="attachment_181100" align="aligncenter" width="1024"] HOTEL Lucky Chinatown.[/caption] [caption id="attachment_181101" align="aligncenter" width="1278"] RICHMONDE Tower.[/caption] [caption id="attachment_181102" align="aligncenter" width="700"] KINGSFORD Hotel Manila.[/caption] The sampaguita is part of MEGreen, Megaworld’s company-wide sustainability program that promotes the real estate developer’s commitment to providing patches of land dedicated to the planting of sampaguita in its townships across the country. Megaworld Hotels & Resorts has launched 18 hotel properties, 12 of which are operational while five more are in the pipeline including Savoy Palawan in San Vicente and Grand Westside Hotel in Parañaque City, poised to be the biggest hotel in the Philippines once it opens. The existing operational hotels with around 7,700 hotel room keys being managed and operated by the group include Richmonde Hotel Ortigas, Eastwood Richmonde Hotel, Richmonde Hotel Iloilo, Savoy Hotel Newport, Savoy Hotel Boracay, Savoy Hotel Mactan Newtown, Belmont Hotel Manila, Belmont Hotel Boracay, Belmont Hotel Mactan, Kingsford Hotel Manila, Twin Lakes Hotel in Tagaytay and Hotel Lucky Chinatown in Binondo, Manila. The post Championing ‘Sampaguita’ hospitality appeared first on Daily Tribune......»»
A Zoom shift
Voice over Internet Protocol technology is becoming the norm for businesses following the move of tech giants such as Zoom Video Communications, Inc. to modernize communication. The real estate Industry in the Philippines, being one of the key drivers of the economy, is now taking advantage of these technologies, moving forward in their digital transformation journey to better serve the country. Property giant Megaworld, which introduced live-work-play townships in the Philippines in the late 90s by launching Eastwood City, is strengthening its foothold at the forefront of innovation in real estate by embracing technology to elevate the customer experience. Sharing a common goal to utilize digital innovation as a business enabler, Megaworld joins hands with Globe Business and Zoom to transform communication. “Communication holds a paramount significance for Globe, having our roots as a telco. But now that we’ve become a TechCo, or tech company, we understand the need for digital tools that work together in an ecosystem, which is what Zoom provides,” said KD Dizon, Head of Globe Business. By enabling industries, such as real estate through this partnership with Megaworld, we can help shape the future and achieve more things in service of the Filipino people.” Megaworld has redefined the business of real estate in the Philippines by creating vibrant and dynamic townships that integrate residential condominiums, offices, hotels, and lifestyle malls for their communities. As the real estate development arm of the Andrew Tan-led Alliance Global Group Inc., Megaworld has consistently shaped the nation’s urban landscape. “Megaworld is now venturing into a new chapter of sustaining our business with technology as a valuable enabler. As a company, our purpose has always been to create ecosystems where people and our partners, particularly our clients, can grow as we elevate their customer experience,” said Lino Victorioso Jr., Head of Corporate Financial Services Group for Megaworld. “With this collaboration with Globe Business and Zoom, we intend to do just that as we fulfill our mission of uplifting lives, impacting society, and helping shape the nation.” With the Zoom Phone licenses provided by Globe Business, Megaworld’s employees have access to modernized and reliable communication tools. This solution enables enterprises to enjoy numerous benefits, including obtaining a dedicated direct dial number for effortless two-way voice calling and facilitating smooth connections with partners and stakeholders. The post A Zoom shift appeared first on Daily Tribune......»»
GERI profits nearly P1B in H1 amid real estate boom
Buoyed by the robust performance of its real estate, rental, and hotel businesses, Global-Estate Resorts, Inc. or GERI, a subsidiary of Megaworld Corp., delivered a 17 percent growth in its first-half profits. In a stock exchange report on Tuesday, GERI disclosed that its net income during the first six months of the year reached P996 million—a significant improvement from last year’s P848 million. Likewise, net income attributable to owners during the period also increased by 13 percent to PP848-million from last year’s P748-million. Consolidated revenues, on the other hand, surged by 32 percent to P3.9 billion from P3 billion in the same period last year. According to GERI, its real estate arm, which accounted for 79 percent of its total revenues, led the entire company’s growth. From January to June, real estate sales climbed by 32 percent to P3.1 billion from last year’s P2.3 billion. Reservation sales also soared by 39 percent to P11.7 billion during the first half of the year. “Our focus on our tourism townships allowed our company to achieve remarkable growth through the first half of the year,” GERI president Monica T. Salomon said in the report. “The company’s core businesses, especially those in our destination estates, largely benefited from the increasing tourism in our country. This second half, we are determined to leverage our expertise and hope to continue capturing the increasing tourism opportunities in the sector.” Demand for GERI’s residential and commercial properties remained strong, particularly for its projects in Boracay Newcoast, Eastland Heights in Antipolo, Rizal, and Twin Lakes in Laurel, Batangas. Its newest project, the P817-million Ocean Garden Villas Cluster C in Boracay Newcoast, which was only launched earlier this year, is now 94 percent sold as of end-June. Hotel revenues, on the other hand, doubled to P308 million from last year’s P158 million due to higher occupancy and room rates as local tourism and travel recover. Leasing revenues, likewise, rose by 29 percent to P273 million from last year’s P211- million. The contribution of retail spaces to the company’s leasing income grew from the year-ago level as foot traffic and tenant sales already recovered from the slowdown. To date, GERI operates nine tourism estates and integrated lifestyle communities across the country covering more than 3,300 hectares of land. The post GERI profits nearly P1B in H1 amid real estate boom appeared first on Daily Tribune......»»
Megaworld taps AI for smart towns
Andrew Tan-led township developer Megaworld Corp. has opened the country’s first data science lab that helps build smarter townships across the country. Through the project, dubbed Township Analytics and Technology Lab, or TAT Lab, Megaworld projects nationwide will be developed with the help of machine-learning models using artificial intelligence. “Megaworld’s commitment to building next-generation townships that are safer, more secure, enjoyable, and sustainable is evident with the establishment of our very own data science lab,” Francis Viernes, chief data scientist and lab director of TAT Lab and head of Data Analytics, said. “Our residents, locators, visitors, and partners stand to benefit from the various innovative programs to be spearheaded by TAT Lab, which are all aimed at creating better experiences in and around our townships,” he added. Predictive existence One of the programs already deployed by TAT Lab is an advanced accident detection system, which is designed to detect road accidents seconds before it happens to trigger a faster, more efficient incident response. TAT Lab’s accident detection system recently won the Innovation Award at the annual ASEAN Innovation Business Platform or AIBP, Enterprise Innovation Awards for leading the way in emerging digital innovations using AI in the region. Another program is the Township-Specific Weather Analytics and Monitoring implemented in partnership with Komunidad, the leader in climate data analytics in Asia. The program aims to help make Megaworld townships more resilient by providing localized and more accurate climate information to help residents and locators plan their day-to-day activities more efficiently. Located within the TAT Lab headquarters is the Megaworld Command Center, a state-of-the-art surveillance facility, that is capable of monitoring and consolidating situation reports across all of Megaworld’s townships nationwide. The Command Center is run by both TAT Lab and Megaworld’s Estate group, with the latter handling its operations. Other programs that will be rolled out soon by TAT Lab include township geographic assessment with real-time traffic information, as well as advanced security monitoring programs aimed at implementing additional layers of security and protection for residential condominiums, offices, malls, hotels, and other major components of Megaworld townships. In the future, more data science and technology programs will be employed in various aspects across Megaworld’s townships, including risks, traffic, security, utilities, waste disposal, and sustainability. Aside from the recognition from AIBP, Megaworld clinched top prizes from World Business Outlook Awards 2023, namely “Best Real Estate Company,” “Most Innovative Real Estate Company,” and “Most Sustainable Real Estate Developer” in the Philippines. The post Megaworld taps AI for smart towns appeared first on Daily Tribune......»»
Belmont Hotel Mactan: A home away from home
For many, a hotel is synonymous to comfort and relaxation, offering people luxurious amenities for a memorable and hassle-free stay. For Belmont Hotel Mactan, these experiences are taken to the next level as it extends incomparable services and first-rate amenities that not only embody class and elegance but also add convenience into the total hotel experience. Belmont Hotel Mactan in Lapu-Lapu City, Mactan Cebu, is the third hotel to open under Megaworld Hotels and Resorts’ homegrown hotel chain in the country. Under its business and leisure or “bleisure” label, Belmont Hotel Mactan is also the second hotel (after Savoy Hotel) that sits on the 30-hectare The Mactan Newtown township. Yes, Megaworld’s townships have always been known as a city within a city that amazingly brings everything together — upscale condominiums, lifestyle malls, commercial establishments, office towers, banks, learning institutions and more — in one mixed-used development. That’s why Belmont Hotel Mactan guests in The Mactan Newtown, particularly the business travelers, are assured of this rare convenience because almost everything they need while staying at the hotel is within their reach. “Guests surely find it efficient to stay within the heart of a 30-hectare lifestyle and business hub of the township,” says Johnson Del Valle, Belmont Hotel Mactan general manager. [caption id="attachment_145632" align="aligncenter" width="525"] PHOTOGRAPH BY VANGIE BAGA-REYES | JOHNSON del Valle (left) Belmont Hotel Mactan general manager, and Harold Geronimo, Megaworld’s vice president for public relations and media affairs.[/caption] Home away from home The 20-story hotel is poised as a business travelers’ home away from home while staying in the beguiling island of Mactan. Located along Newtown Boulevard and just beside Savoy Hotel Mactan, Belmont Hotel Mactan features 550 guestrooms and suites with three room categories, namely, Junior Suite (50 sqm), Deluxe Premium (36 sqm) and Superior (26 sqm). It also has seven rooms dedicated for guests with special needs. [caption id="attachment_145629" align="aligncenter" width="525"] DELUXE Premier[/caption] All rooms are fully equipped with essential amenities, such as an in-room electronic safety box, wall-mounted TV, tea and coffee-making facilities, a minibar and wireless Internet connection. [caption id="attachment_145630" align="aligncenter" width="525"] BELMONT Café, the hotel’s all-day dining outlet offering Asian and Mediterranean dishes.[/caption] Interestingly, most units feature expansive views of the Magellan Bay and the Hilutungan Channel, a deep-water channel that separates Mactan Island from Olango Island. With regards to its location, guests arriving via Cebu International Airport will only take at least 15 minutes to reach the hotel. Del Valle says Belmont provides a logical choice for guests with a business mindset. “Since we opened, we host mainly guests who visit the area for business,” he shares. “The hotel features facilities built specifically for MICE (meetings, incentives, conferences and exhibitions), team-building, networking and corporate celebrations across our four available function rooms that can accommodate a maximum of capacity 120 guests down to 30 guests.” These function spaces are equipped with smart-control projectors and sound systems. “The Mactan Island is populated by hotels and resorts focusing heavily on leisure and wellness, so we are very excited to bring a new kind of hospitality experience through Belmont Hotel Mactan,” says Cleofe Albiso, managing director of Megaworld Hotels and Resorts. “Just like the first two Belmont Hotel properties in Newport City in Pasay and Boracay Newcoast in Aklan, Belmont Hotel Mactan will host guests who are in the area for both business and leisure.” She adds: “They can expect the usual topnotch amenities that enable rest and relaxation, but because we want to address the need for Mactan to be MICE-ready we have also built here facilities for business events. Coupled with the Megaworld brand of hospitality, we are very proud to say this kind of experience is something that cannot be found anywhere else on this side of Cebu.” Rich history Stepping inside the lobby, Belmont Hotel becomes a tribute to Cebu’s festive culture, landmarks, marine life, rich history as showcased through numerous art installations. For instance, colorful headdresses used in Cebu’s Sinulog are displayed in the walls of its all-day dining outlet, Belmont Café; Cebu’s finest handcrafted guitars in different sizes and colors are mounted in the chic hangout spot, Zabana Bar; and the room’s wall art paper features popular things Cebu is known for, from guitars to its delicacies, such as otap and puso (rice wrapped and boiled in woven coconut leaves). To relax and unwind, the central amenity area on the third floor has the swimming pool and kiddie pool, female and male wet and dry sauna, outdoor lounge with elevated deck, fitness center and viewing deck where guests can marvel at the beauty of the nearby sea and the rest of the township and the Mactan Island. In terms of food outlets, guests can also savor a variety of cuisines and delicacies from the hotel’s three food and beverage outlets. Belmont Café offers a wide variety of Asian and Mediterranean dishes, as well as other local delicacies. Just a few steps away from Belmont Café is the Zabana Bar, where guests can enjoy a selection of cocktails and refreshing beverages. [caption id="attachment_145635" align="aligncenter" width="525"] FITNESS center.[/caption] Over on the third floor is the Float Pool Bar, where guests can sample a variety of snacks and beverages as they lounge and take a refreshing plunge at the swimming pool. Belmont Hotel is just a few minutes’ walk from the Mactan Newtown Beach, and about five-minute walk away from the Mactan Alfresco, a hawker-type dining destination. “While in the area, don’t forget to visit the notable tourist sites much like the Mactan Shrine where the iconic 20-meter statue of Lapu-Lapu stands or the Sto. Nino de Cebu Mactan Parish Church which is noted to be shaped like the Magellan’s hat,” shares Del Valle. Largest hotel operator With the opening of Belmont Hotel, alongside Savoy Hotel, Megaworld Hotels and Resorts now has a combined room keys of 1,100, the largest number of room keys in the entire Mactan Island. At the same time, it makes Megaworld the largest developer and operator in the entire Cebu province today. “Belmont means Beautiful Mountain in French,” says Harold Geronimo, Megaworld’s vice president for public relations and media affairs. “It was a name created by our chairman Dr. Andrew L. Tan when we launched the first Belmont Hotel in Newport City. He fell in love with the name. He just wanted to create a new brand for Megaworld Hotels and Resorts because the first brand that we introduced was Richmonde Hotel. The second brand was Belmont.” The first Belmont Hotel was opened in 2015 at Newport City in Pasay City. It was followed by Belmont Hotel Boracay. Soon, the fourth Belmont Hotel will open in Iloilo City. Geronimo adds that Belmont Hotel will complement the Savoy Hotel inside the township because the vision of Megaworld is to be able to expand its portfolio of hotels in Mactan Island. They want to cater to more business and leisure travelers. “When we open Savoy Hotel, we notice there has been a high demand for those types of travelers who want to do business meetings here, as well as families and tourists who are on vacation in Mactan Island. We want to cater to both that’s why we are adding more rooms.” Belmont Hotel is still in the process of coordinating with the Department of Tourism for the hotel-star rating. The post Belmont Hotel Mactan: A home away from home appeared first on Daily Tribune......»»
Megaworld Surpasses Pre-Pandemic Levels, Posts P4.6B Net Income in Q1 2023
Megaworld, the pioneer developer of integrated townships in the Philippines, reported a net income of P4.6 billion in the first quarter of 2023, surpassing its pre-pandemic performance for the first time. This figure represents a 30% increase from P3.5 billion during the same period last year, with all core businesses registering strong topline growth. Consolidated […].....»»
Megaworld beats pre-Covid income
Property developer Megaworld Corp., led by businessman Andrew Tan, exceeded its pre-pandemic performance after net income reached P4.6 billion during the first quarter of the year. The figure is 30 percent higher than the reported P3.5 billion profit a year ago. In a stock report on Wednesday, the company said the improvement of profit was buoyed by the topline growth of all of the company’s core businesses. Consolidated revenues grew by 24 percent to P16.2 billion. “We start the year strong as we continue sustaining the recovery momentum of our businesses and finally grow past our pre-pandemic performance for the first time since the pandemic began in 2020,” Megaworld chief strategy officer Kevin L. Tan said. Adapting to new environment “This affirms our position in the industry and ability to quickly adapt to this new environment and capture opportunities,” he added. Consolidated revenues and net income from January to March are already nine percent and 11 percent higher, respectively, compared to the first quarter of 2019. Likewise, net income attributable to the parent company’s shareholders stood at P4.1-billion and grew by 33 percent compared to the same period last year. Real estate sales Real estate sales for the quarter also grew by 17 percent year-on-year to P9.4 billion due to the higher completion rate of its projects. Also, residential pre-sales surged by 71 percent to P39.6 billion during the quarter and already accounts for 30 percent of the company’s year-end pre-sales target of P130 billion. In its report, Megaworld pointed out that there was “renewed demand” in Metro Manila during the quarter, especially for its projects in McKinley West and Uptown Bonifacio in Taguig City. Leasing revenues, meanwhile, grew by 18 percent to P4.4 billion with the growth led by the performance of the mall segment. To date, Megaworld has 30 master planned integrated urban townships, integrated lifestyle communities, and lifestyle estates across the country. The post Megaworld beats pre-Covid income appeared first on Daily Tribune......»»
Megaworld Sets P50B CapEx, to Launch Four Townships in 2022
Township developer Megaworld is allocating P50-billion for capital spending this year, 39% higher than last year as the company expects improved mobility and a more revitalized economy this year. Around 75% will be spent for real estate developments, particularly on the construction of new residential properties and land development of townships, while 25% will be […].....»»
Megaworld pipelines 21 office, commercial developments in 5 years
Megaworld Corp. is targeting to complete 21 new office and commercial projects in the next five years across 11 townships in the country......»»
Megaworld sets up vaccination centers in Metro Manila, Laguna
Megaworld is opening 10 vaccination centers in its various townships across Metro Manila and in the province of Laguna as part of its contribution to the government’s ongoing vaccination program......»»
Megaworld’s 1H Reservation Sales Hit P38-B
Megaworld, the country’s largest developer of integrated urban townships, has booked P38-billion in reservation sales for various residential projects during the first half of the year. For the entire second quarter, the Megaworld Group generated around P17-billion in reservation sales, at a time when most parts of the country were placed under ‘enhanced community quarantine.’ […].....»»
Megaworld Boosts E-Commerce Platforms for Faster Recovery of Mall, Hotel Businesses
Property giant Megaworld, the country’s largest developer of integrated urban townships, is boosting its e-commerce facilities to fast track the recovery of its commercial and hotel businesses, which have been greatly affected by the coronavirus pandemic. In the coming weeks, the company is set to roll out digital platforms that are aimed at ‘enhancing customer […].....»»
Megaworld Hits Record Financial Performance in 2023, Income up 26% to P19.4 Billion
Megaworld Corporation, the country’s premier township developer, achieved a landmark milestone in its financial performance for the year 2023 as its full-year net income surged by 26% to P19.4 billion. Its consolidated revenues, on the other hand, rose by 17% to P69.7 billion. Net income attributable to the parent company’s shareholders also jumped by 29% […].....»»
MREIT income climbs in 2023
MREIT Inc., the real estate investment trust company of Andrew Tan-led Megaworld Corp., reported a 13 percent expansion in distributable income to P2.8 billion last year......»»
Megaworld posts record financial outcome in 2023
Real estate giant Megaworld Corp. capped off 2023 with a record financial performance, posting a net income of P19.4 billion, 26 percent higher year-on-year......»»
Tallest Megaworld hotel to rise in Pasig
Real estate giant Megaworld is building the tallest hotel development in its portfolio - a 31-story structure inside the company’s 12.3-hectare ArcoVia City township along C5-Road in Pasig City......»»
Megaworld expands hotel presence in Palawan
Andrew Tan led-Megaworld is expanding its hotel footprint in Palawan......»»
This state-of-the-art BGC condo boasts green and sustainable features, modern amenities
E-vehicle charging facilities and more await future residents of Megaworld’s newest condo rising in Taguig City.....»»
Mactan Newtown to host Ironman 70.3 Philippines once again
CEBU CITY, Philippines— The Mactan Newtown in Barangay Mactan, Lapu-Lapu City will remain the epicenter of international triathlon in the Philippines. This is after the Ironman Group Philippines, Sunrise Events Inc., and Megaworld Corporation renewed their partnership for the staging of the biggest triathlon race in the country, the Ironman 70.3 Lapu-Lapu Cebu, on April.....»»