By Zinnia B. dela Peña (The Philippine Star) Updated April 21, 2010 12:00 AM
MANILA, Philippines - The real estate development units of tycoon Andrew Tan generated P26.3 billion from the sale of 7,738 residential units last year.
Flagship property firm Megaworld Corp. sold 4,089 units worth P19.8 billion due to strong sales from Eastwood City, McKinley Hills, Manhattan Garden City and Newport City projects.
Affordable housing unit Empire East Land & Holdings Inc. and low-cost housing builder Suntrust combined for another 3,649 units amounting to P6.5 billion.
Megaworld is the pioneer in the development of live-work-play-learn community township developments in the country. It currently has six ongoing township projects within Metro Manila and several residential developments in the Makati Central Business District.
It was the first to develop an information technology park in the Philippines through its project in Eastwood City, which provides a 24/7 work environment to business process outsourcing (BPO) servicing the global market.
With the success of Eastwood City, Megaworld expanded its portfolio to McKinley Hill, which is now home to some of the biggest names in the BPO industry. Megaworld claims to be the leader in office development and the largest BPO office landlord owning about 306,000 square meters of BPO office space.
The company expects an additional 78,000 square meters to be completed within the year.
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