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Despite lower sales, Megaworld says it’s still top developer

02/16/2012 [ ]

The Megaworld Group announced it posted P37.1 billion in sales for 2011, down 25 percent from 2010.

Depsite this, the firm still claims it is the number one residential developer in terms of units, sales value and total saleable area for the whole year of 2011.

Megaworld Group comprises Megaworld Corp., Empire East and Suntrust that cater to different market segments.

Megaworld Group said it has sold 10,451 units worth about P37.1 billion in 2011, translating into a total saleable area of more than 400,000 sqm for the full year 2011, which represents at least a 35 percent lead over its closest competitor, the firm said in a disclosure.

In 2010, the group posted P49.68 billion in sales for 2010, 89 percent more than the P26.3 billion in revenues for 2009.

Meanwhile, the company said it owes its phenomenal sales growth to its superior portfolio and sterling track record in the Philippine property market.

Megaworld is a pioneering developer of integrated live-work-play-learn township communities in the country.

It has seven such mega-community projects on the rise in the most strategic locations in Metro Manila, namely, Eastwood City and Manhattan Garden City in Quezon City; McKinley Hill, McKinley West and Bonifacio Uptown in Fort Bonifacio; and Newport City in Pasay City. It has also recently launched its first project in Cebu called Mactan Newtown.

For more than 20 years, Megaworld Group has emerged as the country’s top real estate organization with more than 225 residential and office buildings completed with a total floor area of around 5.5 million square meters. Danessa O. Rivera

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