[ Manila Bulletin Online ] July 13, 2008
By JAMES A. LOYOLA
Property giant Megaworld Corporation is registering strong sales among Koreans for its Fort Bonifacio projects with a marketing tie-up with two Korean-led companies already registering sales of P7.5 billion so far this year.
In a press briefing yesterday, Megaworld first vice president for marketing Noli Hernandez said they have signed a memorandum of agreement with MSH Inc. and Philseoul Inc. to attract more Korean investors to set up their businesses and residences within McKinley Hill international-caliber, 50-hectare McKinley Hill township project.
Hernandez said the project is strategically situated beside the soon-to-be-relocated Korean Embassy and the Korean International School and thus makes it attractive for Korean businessmen and students who come to the Philippines to learn English.
He said that the tie-up has already resulted in P6 billion in sales for the first phase of The Venice Luxury Residences which is a seven-tower project.
The sales to Koreans already accounts for almost half of the P12.5 billion to be generated from the project and is equivalent to about 900 units, Hernandez said adding that additional sales of P1.5 billion was also made by the same partners for last tower of Megaworld’s Forbestown project also in Fort Bonifacio.
Hernandez said they are optimistic that the partnership with MSH and Philseoul will continue to generate sales of at least R7.5 billion annually as Koreans continue to be very interested in investing in the Philippines.
MSH was established by its president Jung KyungSun to invest in the country’s booming real estate industry. She is also the president of EOS Inc. of Korea, a real estate development consulting firm which has provided clients with investment services since January 1990. Over 18 years, EOS has provided Korean clients with professional services in planning and land management.
In partnership with Philseoul, which has provided legal advisory services to foreign nationals investing in the Philippines since its incorporation in 2006, MSH intends to give the best possible real estate service to its clients.
Philseoul president Jay Park, holds a highly distinguished position as the legal adviser for the Korea Trade-Investment Promotion government agency. Park aids his clients in the country’s real estate, immigration and labor laws, among others.
