Friday, June 26, 2015

Megaworld Expects to Hit P9B Income Mark

With their aggressive expansion of their leasing portfolio, Megaworld is optimistic in reaching P9-billion in terms of rental income this year.

The company has seen remarkable double-digit year-on-year growth for the last five years. Starting from P2.7-billion in 2010 and closing with P7.1-billion last year, Megaworld's rental income has maintained a steady growth over the years. 

"[We] but have grown even more than two-fold [in the last five years], and this is a favorable indication of the company’s overall growth,” Megaworld Chief Finance Officer Francis Canuto said. “This year, we expect another double digit growth to our rental income by another 27-percent to P9-billion."

Seven new mall and commercial centers will soon be opened in five of their townships inside and outside Metro Manila: in Venice Grand Canal, McKinley Hill; Uptown Place and Uptown Parade, Uptown Bonifacio; Eight Forbestown Road and Burgos Parklane, Forbes Town Center; Mactan Alfresco, The Mactan Newport, Cebu; and Twin Lakes Shopping Village, Twin Lakes Batangas.

Richmonde Hotel Iloilo in Iloilo Business Park and Belmont Luxury Hotel in Newport City are also soon to open this year. Two buildings offering office spaces will soon be completed in The Mactan Newtown and Uptown Bonifacio as well.

The company has also launched two township developments so far: Northill Gateway and The Upper East, both located in Negros Occidental. Three more will be launched later this year, completing their aim of developing 20 integrated urban townships this year.

Megaworld aims to add around 300,000 square meters of gross floor area in its overall rental portfolio by the end of the year. 


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