Talk about a company in the Philippines that has big annual revenue, and Megaworld Corporation will surely pop up. It is a real estate and Business Process Outsourcing (BPO) office developer that was incorporated in 1989 and was converted to a public company in 1994.
Founded by Andrew Tan, Megaworld Corporation has initially established its name for building high-end residential condominiums and commercial properties in urban locations. It has also made leisure and entertainment amenities in Metro Manila. It also provides services like property management, project design, and construction oversight.
One of its most notable projects will probably be the Forbes Town Center, which is a 6-hectare commercial and residential district. They also created the Petron Megaplaza, an amazing skyscraper which held the record for being the tallest building when it was completed in 1998.
There is also McKinley Hill, the largest residential project in the country, One Central, and Eastwood City which a lot of millennials are probably familiar with.
After their silver anniversary in 2014, the company renewed its congressional franchise for another 25 years. This means that it will operate with a franchise from the Philippine government to limit and regulate the development and operations of constructions like hotels and shopping centers.
Megaworld Corporation has also won some awards throughout the years including the Best Developer Award in 2016 and 2017 and was nominated in 25 categories in the 2017 annual PropertyGuru Philippines Property Awards.
For the coming years, there will surely more projects that will come for the company since they are projected to spend over 60 billion pesos for towns and office towers. And just for a background, a condo under Megaworld easily be around 3.5 million pesos to 7 million pesos. We’ll leave the computations to you on how many more projects will there be.
For now, in their list of future projects, the following are included: One Republic Plaza in Davao City, The Capital Town in the City of San Fernando, Eastland Heights in Antipolo, and 20 more housing projects in McKinley Hills, Uptown Bonifacio, and McKinley West.