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Megaworld sees sales hitting P70b

By Jenniffer B. Austria | Posted on Jul. 19, 2013 at 12:02am | manilastandardtoday.com
Property developer Megaworld Corp. said Thursday it expects to generate P70 billion in reservation sales this year, up 10.2 percent from P63.5 billion in 2012, as it plans to launch 25 new residential condominium projects.
Megaworld president Andrew Tan said during the annual stockholders’ meeting the company already posted P38 billion in reservation sales in the first half, up 27 percent from the same period last year.
“Based on our first half performance, we are well on track to hit our target of P70 billion in reservation sales for the year 2013. The Megaworld group is looking to launch at least 25 residential projects for this year,” Tan said.
The 25 projects to be launched this year will offer 12,000 condominium units, mostly for the middle-income market. The company launched 20 projects offering 10,000 units last year.
Megaworld and its subsidiaries Empire East Land Holdings Inc. and Suntrust Properties Inc. launched 14 projects in the first six months of 2013.
Megaworld launched seven projects, including One Eastwood Avenue Tower 2 in Eastwood City, The Florence Tower in McKinley Hill, Manhattan Plaza Tower 1 in Cubao, One Manchester Place Tower 1 in Cebu, One Madison Place Tower 1 and 2, and a boutique hotel in Iloilo Business Park.
Empire East launched five towers, namely San Lorenzo Place Tower 3 in Makati, Kasara Urban Residences Tower 3 and The Rochester Tower 6 in Pasig and Cambridge Village Clusters 32 and 33 in Pasig-Cainta.
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