Megaworld Corporation allots P17B for 2010 capital expenditures
Property developer Megaworld Corporation, in a disclosure to the Philippine Stock Exchange, announced that it has P17 billion for its capital expenditures this 2010.
In the same disclosure, the real estate firm also reported that its group of companies has P15 billion worth of real estate projects under the Megaworld, Empire East and Suntrust brands in the first five months of 2010.
Megaworld Corporation also generated P11.4 billion during the five-month period from strong sales of residential projects in its Eastwood City, McKinley Hill and Newport City townships, along with Manhattan Garden City.
While sister companies, Empire East and Suntrust, posted combined sales of P3.6 billion during the same period for their ongoing housing projects.
Megaworld is a pioneering developer of integrated live-work-play-learn communities in the country.
To date, it has six township developments under way in the most strategic locations in Metro Manila, in addition to several luxury residential condominium projects in the heart of the Makati central business district.
In the third quarter of 2010, Megaworld is set to launch four major urban projects, namely, Palm Bay in Manila, Maple Park Villas at McKinley Hill in Fort Bonifacio, Two Central West Tower in the Makati central business district (CBD) and 81 Newport Boulevard at Newport City in Pasay City.
Palm Bay is a P5-billion mixed-use condominium project that will rise within Cultural Center of the Philippines complex adjacent to the Coconut Palace.
It will comprise three high-rise residential towers with 300 units each.
McKinley Hill Maple Park Villas are medium-rise garden homes situated in Megaworld’s 50-hectare township in Fort Bonifacio, Taguig City.
The entire project consists of three clusters with a total of 269 condominium units.
The 50-storey high building Two Central West Tower located in Makati CBD features a contemporary architecture inspired by the iconic International Finance Center in Hong Kong.
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