MANILA – Megaworld Corp., led by billionaire Kevin Tan, is boosting capital spending to ₱65 billion this year to accelerate township developments outside Metro Manila.
The funds will cover land banking, project rollouts, and high-value property investments, with new township developments set in Ilocos Norte (Ilocandia Coastown), Cagayan de Oro (The Upper Central), and Nasugbu, Batangas (Nascala Coast).
Megaworld is also expanding residential, office, and retail spaces in Bacolod, Iloilo, Pampanga, Cavite, and Palawan, supporting future infusions into its real estate investment trust, MREIT Inc.
“We are seeing opportunities ahead… Our residential business remains a strong growth engine, especially as we introduce pioneering projects that integrate new technologies such as artificial intelligence,” said Lourdes Gutierrez-Alfonso, Megaworld president and CEO.
This year, the company plans to launch 19 residential projects worth ₱65 billion across Luzon, Visayas, and Mindanao, alongside hotel expansions in Pasig, Pampanga, Palawan, and Bacolod that will add nearly 2,000 rooms.
The spending drive follows the unveiling of Megaworld’s 37th township, the 97-hectare Sugartown in Talisay City, Negros Occidental, underscoring its push to grow beyond the capital. #END
News and Photo Source: BILYONARYO