Following developments in Bacolod City, Boracay, Mactan, and a slew of other locations across the country, property developer, the Megaworld Corporation, is seeing unprecedented growth. The company recorded a net income of P14 billion in the first three quarters of this year, which reflects a 17 percent jump. Notably, before the last quarter, the company offered P58.7 billion in new residential inventory, which was met with P114 billion in reservation sales.
“Megaworld’s consistent growth across all business segments is a clear indicator of where the company is going and we are very optimistic to finish the year strong,” said Megaworld chief strategy officer Kevin L. Tan. “We have already introduced quite a number of real estate projects this year, which reflects the kind of demand that we have been seeing since last year.”
“Megaworld will always be market driven and as long as we see this type of demand on the ground, then we will continue to launch projects aggressively,” he added.
In the Western Visayas, Iloilo City has seen its business and tourism sectors grow, particularly from the Iloilo Business Park.
Rental income has also been a boon for the company, posting 19 percent year-on-year growth as income jumped from P10.5 billion in 2018 to P12.4 billion this year.
“Our rental business remains to be a key driver to our consistent growth and we see this to become stronger in the coming years as we roll out more office and retail spaces in our townships across the country,” said Tan.
I have had some awesome experiences with various properties and I heard Iloilo City will soon have a bigger hotel under the Megaworld’s Belmont Hotel brand.

***
This column greets Harold Geronimo, Natalie Lim, Tere Isla, Roland Galano, Nate Dacua, Ray Tabafunda, Jola Tingson, Ping Jimenea, Darlene Guerra, Mining Maravilla, Lorna Longno, Kristine Chan, and Junel Ann Divinagracia /WDJ