Megaworld builds most condominiums in 2011-16

Rappler.com
Andrew Tan-led Megaworld Corp. leads the residential condominium market in the country with the most number of units completed from 2011 to 2016.

MANILA, Philippines – Andrew Tan-led Megaworld Corp. leads the residential condominium market in the country with the most number of units completed from 2011 to 2016, a study said.

Property research specialist Colliers International based this on all all projects launched at end-September 2011. Megaworld’s units represented about 18% of the market.

In a disclosure to the Philippine Stock Exchange, the total aggregate saleable area of those projects launched and to be completed in the same period represent 16% of the market with a total saleable area of about 1.15 million square meters.

Francis Canuto, Megaworld senior vice president, attributed the company’s “strong residential sales” to its proven track record and popularity of its six live-work-play-learn communities in Metro Manila, namely, Eastwood City, McKinley Hill, Newport  City, Manhattan Garden City, Forbes Town Center and McKinley West.

In 2011, the company launched eight new projects in Metro Manila and marked its initial foray in Cebu with 8 Newtown Boulevard.

Megaworld has delivered over 230 buildings to customers over the past two decades. It is currently developing over 40 residential projects and several offices for business process outsourcing companies in Metro Manila.

In the first half of 2011, Colliers International cited SM Development Corp. of the Sy family as the largest residential developer in Metro Manila in terms of number of units sold and value of sales.

Megaworld is the middle-income property unit of Alliance Global Group Inc. Its consolidated net income in January to September reached P6.7 billion, a 61.78% jump from the same period last year. It cited stronger real estate sales, rental income, hotel revenues and other revenues. – Rappler.com