Megaworld plans more developments in Visayas, Mindanao

Rappler.com
Megaworld plans more developments in Visayas, Mindanao
With only 6 townships in the Visayas and 1 in Mindanao, Megaworld says it wants to increase its presence outside Luzon

MANILA, Philippines – Listed property developer Megaworld Corporation is keen on further cementing its footprint in the Visayas and Mindanao, as it sets out to have a total of 30 townships across the country by 2020.

Megaworld executive vice president and chief strategy officer Kevin Tan said on Monday, June 17, that while there is still huge market demand in Metro Manila, they are seeing the same sentiment outside the capital region.

Coupled with the infrastructure projects of the government, Tan pointed to their existing projects in the Visayas and Mindanao which helped create “new economies” and increase demand for real estate.

“If you go to a place like Iloilo, and you build BPO (business process outsourcing)  offices there…these people who would have worked in the industry would have normally gone to Metro Manila to find work,” he said.

“But because we brought the BPO jobs to them, they decided to stay and this is better, if social impact is concerned. They will have stable income, now they are able to afford to buy their own homes. It’s synergistic.”

Megaworld remains Luzon-centric so far, having 17 townships in the island region, with 9 of these located in Metro Manila. The Visayas houses 6 townships, while Mindanao only has 1 township.

The company already announced its Cainta township earlier in 2019 and is set to unveil 2 or 3 more in the latter part of the year. The remaining township projects will be announced in 2020.

Tan said they will also begin to integrate more digital technology in their new townships, while upgrading the older ones with new technology.

Megaworld already rolled out its iTownship in 2018, a project which integrates eco-friendly design and digitization of services and payments within the community.

“It might be too early now, but you have to be prepared for the future so you have to already start doing that,” said Tan. – Rappler.com

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