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. Read more…
Categories: Investment News, Philippine Real Estate, Real Estate Investment Tags: megaworld corporation, real estate philippines
CenterPoint Properties Signs a Build-to-Suit for Lease With Stepan Company
CenterPoint Properties announced today that Stepan Company has signed a build-to-suit lease for a 217,712 square foot building on a 16.48-acre site in Joliet, IL. The building will be developed by CenterPoint Properties.
Stepan Company is a leading producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation related products. Headquartered in Northfield, Illinois, Stepan currently has over 1500 employees globally and utilizes a network of modern production facilities located in North and South America, Europe, China and the Philippines. Stepan is a publicly traded company with common and convertible preferred stocks traded on the New York and Chicago Stock Exchanges under the symbols SCL and SCLPR. For more information, visit Stepan’s website at http://www.stepan.com.
“We are pleased that the Stepan Company chose to locate within CIC-Joliet and work with CenterPoint Properties. The transportation savings and flexibility realized through the intermodal location will benefit Stepan and their global supply chain now and in the future,” said Michael Murphy, CenterPoint Properties.
“The transportation advantages of the development and the flexibility of CenterPoint on the structuring of the transaction made this work for both parties,” said Dan Leahy, NAI Hiffman.
Categories: Apartments, Philippine Real Estate Tags: center point properties philippines, CenterPoint Properties, real estate philippines
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