Megaworld Group sales jump 81% to P36.6 billion in 9 months

MANILA, Philippines - The Megaworld Group of Companies registered sales of P36.6 billion in the first nine months of the year, up 81 percent from P20.2 billion in the same period last year.

The Megaworld Group comprises three brands catering to the different market segments of the property sector – Megaworld, Empire East and Suntrust.

Megaworld, which caters to the upper segment of the market, pumped in P29.7 billion to groupwide sales for the period under review. Sales mainly came from ongoing residential projects in Metro Manila including Eastwood City, McKinley Hill, Newport City and Manhattan Garden City.

Sister companies Empire East Land and Suntrust Properties, which are focused on medium-cost and affordable housing, respectively, chalked in combined sales of P6.9 billion. Both firms have ongoing projects in Metro Manila and in the nearby growth provinces of Cavite and Laguna.

Megaworld is a pioneering developer of integrated live-work-play-learn township communities in the country. It currently has six ongoing projects within Metro Manila and several residential developments within the Makati Central Business District.

The company 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) operations 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 is acknowledged as the leader in office development and is currently the largest BPO office landlord. By the end of 2010, the company would have close to 385,000 square meters of office space in its portfolio. It likewise has projects that have yet to be launched in Iloilo and Cebu.

Last year, it acquired land in North Bonifacio and Jusmag, thus making it the largest landowner in Fort Bonifacio.

Among its other projects include West and Bonifacio Uptown in Fort Bonifacio and Newport City in Pasay City. Once fully developed, these mega-communities will be home to around 48,000 families and 202,000 BPO office workers.

Over the past two decades, Megaworld and its affiliates have completed more than 200 residential and office buildings with a total floor area of approximately 5.4 million square meters.