Megaworld cues launch of two more townships
Megaworld Corp. is continuing to expand its township portfolio with the upcoming launch of two more projects outside Metro Manila, amid efforts to capture market opportunities in key growth areas in Luzon and Visayas.
In a statement over the weekend, the real estate developer said it would start developing new projects that cover more than 300 hectares (ha) of land this year.
“As we work toward helping cities grow their local economies and provide job opportunities, we are focused on further expanding our township portfolio in the regions. These two townships have expansive land areas which will further boost our land bank,” Megaworld president Lourdes Gutierrez-Alfonso said.
Majority or 69 percent of the company’s townships are in the provinces. There are 16 in Luzon, six in the Visayas and two in Mindanao.
“Aligned with Alliance Global Group’s vision on tourism, many of these Megaworld townships are drivers of tourism in their respective locations,” Alliance Global president and CEO Kevin Tan said.
‘Very bullish’
Last month, Tan said they “continue to be very bullish” on the residential business because “interest rates keep going down.”
With lower interest rates, borrowing costs can be cheaper as well, encouraging customers to apply for home loans.
The Bangko Sentral ng Pilipinas implemented a 25-basis-point (bp) cut last month, lowering the key policy rate to 5.75 percent. Last year, the central bank reduced the policy rate by a total of 75 bps.
Also last year, Megaworld launched four new townships that sprawl over 300 ha. These are Lialto Golf and Beach Estates in Lian, Batangas; San Benito Private Estate in Lipa, Batangas; Ilocandia Coastown in Laoag City, Ilocos Norte; and The Upper Central in Cagayan de Oro City.
“We build hotels, museums, resorts, malls, sports and leisure facilities and many other attractions within our townships to support our country’s tourism industry,” Tan added.
