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CBRE cites Megaworld as top developer in RP

By Danessa O. Rivera
01/03/2012 [ ]

Real estate advisor CBRE Philippines has named Megaworld Corp., a firm led by businessman Andrew Tan, as the top residential condominium developer in its latest study, launching the most residential condominium units from 2000 to 2011.

The firm disclosed that the report establishes Megaworld’s continued leadership in the market for more than a decade.

According to the study, the developer has cornered a 16 percent share of the market, which translates to more than 40,000 condominium units. In addition, the overall volume of units launched by Megaworld in the same 12-year period represents an estimated total aggregate saleable area of about 1.9 million square meters or 17 percent of the market.

Colliers International previously cited Megaworld as the No.1 residential developer based on the number of residential units completed and to be completed until 2016 and the total aggregate saleable area.

Both CBRE Philippines and Colliers International are global companies that provide a roster of real estate services. Megaworld Senior Vice President Francis Canuto said the company has the distinction of being recognized by two international real estate services firms as the No.1 residential condominium developer. “This is a testament to the company’s dedication to address on a large scale the Filipinos’ need for quality homes in the very best locations,” he said.

In 2011 alone, Megaworld put on stream eight new projects: One Eastwood Avenue in the developer’s pioneering 18-hectare Eastwood City township in Quezon City; 101 Newport Boulevard and Belmont Luxury Hotel in the 25-hectare Newport City in Pasay City; One Uptown Residence in the new 16-hectare Uptown Bonifacio in the Global City; Tower 1 of The Viceroy in the 50-hectare McKinley Hill in Fort Bonifacio; the second tower of Manhattan Heights, the third phase of the 5.7-hectare Manhattan Garden City at the Araneta Center; the 31-story Greenbelt Hamilton in the Makati CBD; and Eight Newtown Boulevard, Megaworld’s first luxury residential project in Mactan, Cebu.

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