Megaworld Corporation, together with its subsidiaries, develops, markets, and leases real estate properties in the Philippines. It develops mixed-use planned communities or community townships that integrate residential, commercial, educational/training, leisure, and entertainment components. The company’s real estate portfolio comprises residential condominium units, subdivision lots, and townhouses, as well as office projects and retail spaces. It also leases office and retail spaces; manages hotel operations; and provides project design, construction, and property management services, as well as engages in cinema, business process outsourcing, educational, facilities provider, and mainten...
The World Centre Building
20th and 28th Floors
330 Sen. Gil Puyat Avenue
Makati City, 1227
Founded in 1989
Megaworld Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and First Nine Months Ended September 30, 2015
Nov 12 15
Megaworld Corporation announced unaudited consolidated earnings results for the third quarter and first nine months ended September 30, 2015. For the quarter, the company announced operating revenue of PHP 10,948,122,000 compared to PHP 9,568,865,000 for the same period a year ago. Net income before tax was PHP 3,863,575,000 compared to PHP 3,356,322,000 for the same period a year ago. Net income after tax was PHP 2,923,191,000 compared to PHP 2,597,354,000 for the same period a year ago. Net income attributable to parent equity holder was PHP 2,833,853,000 or PHP 0.08 per basic and diluted share compared to PHP 2,460,757,000 or PHP 0.07 per basic and diluted share for the same period a year ago. Profit for the period before pre-acquisition was PHP 2,923,191,000 compared to PHP 2,597,354,000 for the same period a year ago.
For the first nine months, the company announced operating revenue of PHP 31,876,409,000 compared to PHP 27,998,192,000 for the same period a year ago. Net income before tax was PHP 10,942,924,000 compared to PHP 21,374,888,000 for the same period a year ago. Net income after tax was PHP 8,352,243,000 compared to PHP 19,038,669,000 for the same period a year ago. Net income attributable to parent equity holder was PHP 8,093,785,000 or PHP 0.25 per basic and diluted share compared to PHP 18,787,331,000 or PHP 0.59 per basic and diluted share for the same period a year ago. Profit for the period before pre-acquisition was PHP 8,351,951,000 compared to PHP 19,122,031,000 for the same period a year ago. Net cash used in operating activities was PHP 1,006,645,000 compared to PHP 725,335,000 for the same period a year ago. The company's bullish performance during the three quarters of the year was driven by its aggressive expansion of its integrated urban townships across the country, the company's pioneering real estate concept in the country that synergizes residential, office, commercial and institutional components of a community.
Megaworld and Travellers International Hotel Group, Inc. to Build Westside City Near Manila Bay
Nov 2 15
Megaworld and Travellers International Hotel Group Inc. are allocating PHP 65-billion to develop a 31-hectare leisure and entertainment township at the booming Entertainment City in Paranaque City. To be called Westside City, the township will house the second Resorts World property in the Philippines, scheduled for completion by last quarter of 2020. The township will also be home to Megaworld's upscale residential condominiums, a luxury mall as well as international hotel brands such as The Westin Hotel of the Starwood Asia Pacific Hotels & Resorts Group, Hotel Okura Manila of the Okura hotels & Resorts, the Genting Grand and Crockfords Tower of the Genting Group, and Kingsford Hotel. These hotels will have a total of around 1,500 rooms. Megaworld also announced that it is investing PHP 30-billion to develop a 35.6- hectare township in the City of San Fernando, Pampanga.
Megaworld Corp. Fast-Tracks Office Tower Project
Oct 22 15
Megaworld Corp. announced that it expects to complete the construction of six campus-type office towers in its McKinley West township in Fort Bonifacio by end 2016. The company is fast-tracking the completion of the project ahead of schedule. The six office towers, which have a total of 60,000 square meters of office space, are located in McKinley West, which was recently declared by President Benigno S. C. Aquino III as a 'special economic zone' for information technology. Since McKinley West is a special economic zone, companies that lease office space from the PEZA-accredited buildings will be granted privileges such as income tax holidays, duty free importation of capital equipment and other non-fiscal incentives. On the other hand, developers shoulder the real property taxes on land. Once completed, Megaworld said the six office towers are seen to generate around 20,000 jobs. The office towers will also have 'green' features to be registered under Leadership in Energy and Environment Design of the US Green Building Council.