MANILA, Philippines – Megaworld Corporation’s net revenue rose 11 percent which is 2.9 billion pesos in the 1st three months of 2017.
According to the officials, the reason behind the increase is because of the robust rental yields and continuous residential profits
The overall income from secondary branches, such as Global Estate Resorts, Suntrust Properties, and Empire East Land Holdings, contributed 5 percent or 12 billion pesos. The overall residential revenues, on the other hand, garnered 70 percent in the total net income of the company. It includes villages and condominiums. Revenues from rentals increased 26 percent or 2.9 billion pesos.
Profits from hotels rose 23 percent or 335 million pesos due to the expansion of the company in its household hotel trademarks which are Belmont in Pasay City and Richmonde in Iloilo City.
According to Francis Canuto, the treasurer of Megaworld, the enduring plan of the company is to build up its continuous rise in revenue and remain at the top of the residential development industry. He said that they have already secured the properties in some areas. The only thing left to do is to use these properties to widen their superiority in strategic places in the countryside.
Megaworld’s primary goal is to build and develop 20 housing projects which will have total revenue of 31.2 billion pesos.
The locations of these projects are in Iloilo Business Park in Mandurriao, Iloilo City; Uptown Bonifacio, McKinley West and McKinley Hill, all in Fort Bonifacio; Maple Grove in General Trias, Cavite; Boracay Newcoast in Boracay Island; Sta. Barbara Heights in Iloilo; and Twin Lakes near Tagaytay; Eastland Heights in Antipolo, Rizal; and The Capital Town in the City of San Fernando, Pampanga