Megaworld tops property sales last year

MANILA, Philippines - The Megaworld Group of Companies sold P37.1 billion worth of residential units last year, claiming the top spot among property firms in terms of units, sales value and total saleable area.

In a disclosure to the stock exchange yesterday, Megaworld said it disposed 10,451 units with a total saleable area of more than 400,000 square meters or 35 percent more than its closest competitor.

A pioneering developer of integrated live-work-play-learn township communities, Megaworld has so far built more than 225 residential and office buildings with a total area of about 5.5 million SQM.

In 2011 alone, Megaworld launched eight new projects – One Eastwood Avenue in the developer’s pioneering 18-hectare Eastwood City township in Quezon City; 101 Newport Boulevard and Belmont Luxury Hotel in the 25-hectare Newport City in Pasay City; One Uptown Residence in the new 16-hectare Uptown Bonifacio in the Global City; Tower 1 of The Viceroy in the 50-hectare McKinley Hill in Fort Bonifacio; the second tower of Manhattan Heights, the third phase of the 5.7-hectare Manhattan Garden City at the Araneta Center; the 31-story Greenbelt Hamilton in the Makati CBD; and Eight Newtown Boulevard, Megaworld’s first luxury residential project in Mactan, Cebu.

The company is continuing its aggressive expansion with plans to launch 11 residential projects in the first half.

Megaworld is currently developing over 40 residential projects and several BPO (business process outsourcing) offices in Metro Manila.

The company is also targeting a wider range of customers through the projects of subsidiaries Empire East Land Holdings Inc. and Suntrust Properties Inc.

Megaworld earlier said it was eyeing a record profit of P6 billion in 2011, 18 percent higher than the previous year, on brisk sales of its mega-communities and strong takeup of retail and office space. 

For the first nine months of 2011, Megaworld reported a 36 percent growth in net income to P4.08 billion.