Megaworld is a company in the Philippines that is involved in the development, marketing, and sales of real estate. The company develops community townships in Metro Manila, which integrates residential, commercial, educational, and entertainment components. Moreover, the company also rents offices and lifestyle malls.
The company plans to take advantage of current low interest rates and borrow $338.2 million to finance capital spending for real estate projects. The company is committed to being the leading office space provider, and has aggressive plans for continuous expansion to increase its rental income.
The company is allocating P 285.5 billion for its five-year capital-spending program, which will develop townships across the country. Megaworld already ended 2014 with the launch of 15 townships and plans to continually move forward.
The company is also allocating P 65 billion to build residential and hotel projects, office buildings, malls, and commercial buildings.
The company will also be collaborating with Filinvest to develop a former military base into a master planned city North of Manila. Other firms interested in this project include Sumitomo Corp, Hitachi Ltd, Farglory Land Development Co Ltd and Mitsubishi Corp. According to government studies, this project will generate 1.57 trillions of Pesos in economic activity and will create around a million jobs.