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The company did not go into specifics about where in Luzon and Visayas the upcoming two townships would be located
MANILA, Philippines – Billionaire Andrew Tan’s Megaworld Corporation is expanding its township portfolio with two more to be built in “key growth areas” in Luzon and Visayas this year.
In a statement dated January 17 but disclosed to the exchange on Monday, January 20, the property giant said the two new townships will span 300 hectares.
“As we work towards helping cities grow their local economies and provide job opportunities, we are focused on further expanding our township portfolio in the regions,” Megaworld President Lourdes Gutirrez-Alfonso said.
“These two townships have expansive land areas which will further boost our land bank,” she added.
Majority of the company’s famed townships are located outside Metro Manila. As of January 2025, Megaworld said it had 16 townships in Luzon provinces, 6 in the Visayas region, and two in Mindanao.
Megaworld launched 4 townships with a total of over 300 hectares in 2024. These included Lialto Golf and Beach Estates in Lian, Batangas; San Benito Private Estate in Lipa, Batangas; Ilocandia Coastown in Laoag City, Ilocos Norte; and The Upper Central in Cagayan de Oro City.
The company did not go into specifics about where in Luzon and Visayas the upcoming two townships will be located.
“Aligned with Alliance Global Group’s vision on tourism, many of these Megaworld townships are drivers of tourism in their respective locations,” Alliance Global Group president and chief executive officer Kevin Tan said.
“We build hotels, museums, resorts, malls, sports and leisure facilities, and many other attractions within our townships to support our country’s tourism industry.”
In November 2024, the company saw “sustained demand” for its township developments. These are usually already designed with areas for rest and recreation as well as commercial establishments within the property.
Megaworld’s real estate segment drove the first nine months of 2024 — with sales going up by 30% to P37.85 billion. The company booked a net income of P15.69 billion during the January-to-September period, up 16% year on year. – Rappler.com
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