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Alliance Global bullish

Posted May 4th, 2012 by Jenniffer B. Austria
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Conglomerate Alliance Global Group Inc. of tycoon Andrew Tan expects four real estate companies to post a combined P55 billion in reservation sales in 2012, up 49 percent from P37 billion in 2011.

Alliance Global’s four real estate firms are Megaworld Corp., Empire East Land Holdings Inc., Suntrust Properties Inc. and Global-Estate Resorts Inc. Each caters to niche markets ranging from the luxury, middle-income and affordable home sectors to the vacation homes segment.

Alliance Global said in a disclosure to the stock exchange it was confident about the property sector after its units posted a record P16.4 billion in reservation sales in the first quarter of 2012, up 52 percent on year.

“Megaworld’s strong performance for the first quarter of this year can be attributed to superior product offerings that address on a large scale the Filipinos’ need for quality, affordable homes in the very best locations,” said Megaworld senior vice president for marketing Noli Hernandez.

(Published in the Manila Standard Today newspaper on /2012/May/04)

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