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MEGAWORLD UPDATE: Megaworld’s net income jumps 17% to record high of P15.8-B in 2018

Megaworld Update

Megaworld Update: “Office, mall, residential, and hotel businesses see double-digit growth during the year”
MANILA, Philippines, April 08, 2019
‐ Megaworld, the country’s largest developer of integrated urban townships, saw its net income grow by 17% to P15.8-billion in 2018 from P13.6-billion (excluding P113-million non-recurring gain) the previous year. Net income attributable to parent company ended at P15.2-billion by end-December 2018, a 17% jump from P13.0-billion in 2017 (excluding P113-million non-recurring gain).

Consolidated revenues grew about 15% to P57.4-billion in 2018 from the previous year’s P50-billion (excluding P113-million non-recurring gain).

The company’s rental businesses, comprising of office and lifestyle mall leasing, strongly contributed to the topline, soaring 21% to P14.3-billion in 2018 from the previous year’s P11.8-billion. This contributed 25% of the total consolidated revenues during the year.

Megaworld Update: In 2018 alone, Megaworld has already achieved over 70% of its rental income target of P20-billion by end of next year.

Last year, Megaworld opened its biggest mall development outside of Metro Manila, the Festive Walk Mall in Iloilo Business Park, offering around 90,000 square meters in gross floor area. It also opened two new community malls – the San Lorenzo Place in Makati City, and The Village Alabang in Las Piñas City.

Also last year, the company closed a historic deal in Philippine real estate when it bagged the long-term lease contract to build the 25-storey Philippine Global Service Center of JPMorgan Chase Bank, N.A. It was regarded as the country’s biggest single lease transaction to date, with around 70,000 square meters of ‘build-to-suit’ office spaces for a single company alone.

“We have already secured multiple pre-lease deals for our office buildings as well that are in the pipeline until next year. Same goes to our mall and commercial spaces that are set to open in our various townships. For our residential properties, we continue to see strong take-up especially in our mature townships, and there is already a consistently growing interest in our newly-launched townships,” says Kevin L. Tan, chief strategy officer, Megaworld.

Megaworld’s residential business, on the other hand, saw a double-digit growth of 11.5% in 2018 to P38.0-billion from P34.1-billion during the same period the previous year. This contributed to 66% of the total consolidated revenues during the year.

The Megaworld Group launched 25 residential projects in 2018, with a total sales value of around P106-billion. The company also achieved P135-billion worth of sales reservation during the year.

Megaworld’s hotel business, likewise, grew its revenues by about 14% to P1.5-billion compared to P1.3-billion in 2017. The company launched two new hotels last year: the 684-room Savoy Hotel Manila in Newport City, and the 126-room Twin Lakes Hotel in Twin Lakes, Laurel, Batangas. This brought the number of Megaworld Hotels to seven (7) by end-2018.

“We have gained the fruits of our expansion in the regions as we saw continuing growth in the demand for residential units as well as office and commercial spaces in our various townships across the country. Perhaps, as we build these townships, people saw the advantage of living where they work, and living where everything is just within reach. This model makes every aspect of our business viable and expandable, and we continue to spot for opportunities where we can further grow and innovate our offerings,” explains Tan.

Megaworld Update: Just several weeks ago, together with its subsidiary Empire East Land Holdings, Inc., Megaworld introduced its 24th township, the 24-hectare Highland City along F. Felix Avenue in Cainta, Rizal. It allocated P20-billion to develop the township within a 10-year period.

Megaworld Update: Over the last 30 years, the Megaworld Group has expanded its township developments across the Philippines that include: Eastwood City in Libis, Quezon City, (18.5 hectares); Newport City in Pasay City (25 hectares); McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town (5 hectares), all in Fort Bonifacio, Taguig City; The Mactan Newtown in Lapu-Lapu City, Cebu (30 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares); Boracay Newcoast in Boracay Island (150 hectares); Twin Lakes in Batangas near Tagaytay (1,300 hectares); ArcoVia City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Piñas City (62 hectares); Eastland Heights in Antipolo, Rizal (640 hectares); Suntrust Ecotown in Tanza, Cavite (350 hectares); Maple Grove in General Trias, Cavite (140 hectares); The Hamptons Caliraya in Lumban-Cavinti, Laguna (300 hectares); The Upper East (34 hectares) and Northill Gateway (50 hectares) both in Negros Occidental; Capital Town Pampanga beside the Pampanga Provincial Capitol in the City of San Fernando (35.6-hectares); and Westside City in the Entertainment City in Paranaque City (31 hectares.)

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Travel

Megaworld To Bring Belmont Hotel in Iloilo Business Park

Belmont Hotel

Belmont Hotel Iloilo – Fourth hotel under Megaworld’s homegrown Belmont brand to add 405 hotel rooms in Iloilo City 

ILOILO CITY, Philippines, October 16, 2018 – Property giant Megaworld is building its fourth Belmont Hotel inside its 72-hectare Iloilo Business Park township in Mandurriao, Iloilo City.

Belmont Hotel Iloilo will have 405 suites, composed of a mix of Twin Suites, Queen Suites, Junior Suites, Executive Suites and Specially-Abled Suites for Persons with Disabilities (PWDs).

The 12-storey hotel, which is the third in the entire township, will be located along the stretch of the 1.1-kilometer long Festive Walk Parade, just a walking distance to the iconic Iloilo Convention Center and the Festive Walk Mall.

Belmont Hotel - Executive suite

Belmont Hotel – Executive suite

It will have its own swimming pool with in-pool lounge, landscaped deck with pool bar and outdoor lounge, fitness center with sauna, function room, and an all-day dining restaurant.

“We have seen the huge potential of Iloilo as a tourism destination. With the Iloilo Convention Center as a main facility for Meetings, Incentives, Conventions and Exhibitions (MICE), there is no doubt that Iloilo City needs another world-class hotel. And we are bringing another Megaworld homegrown hotel brand, which has gained popularity among business travelers since Belmont Hotel Manila opened in 2015,” says Jennifer Palmares-Fong, vice president for sales and marketing, Megaworld Iloilo.

Belmont Hotel - Junior suite

Belmont Hotel – Junior suite

Belmont Hotel Manila, Megaworld’s first Belmont Hotel that opened in Newport City, was awarded this year’s Best Airport Hotel in the 2018 Travel and Hospitality Awards. The second Belmont Hotel is set to open in Boracay Newcoast next year, while the third one will be at The Mactan Newtown, the company’s 30-hectare township in Lapu-Lapu City, Cebu.

In Iloilo Business Park, Megaworld opened its third Richmonde Hotel in 2014 and its sister company Travelers International Hotels Group, Inc., owner and operator of Resorts World Manila, opened the Courtyard by Marriott early this year.

According to the Iloilo City Tourism Office, tourist arrivals in the city have remarkably increased during the past five years. In 2017, around 1.08 million local and foreign tourists visited Iloilo City. Most foreign visitors came from South Korea, US, Canada, Mexico and Australia.

Tourism receipts, on the other hand, reached P19.8-billion in 2017 as registration for tourism-related establishments such as hotels rose by 55% to 1,605 last year compared to those posted in 2013.

Belmont Hotel - Artist's Perspective

Belmont Hotel – Artist’s Perspective

“Megaworld’s Iloilo Business Park itself is a tourist destination. Visitors come to the township to visit the Iloilo Museum of Contemporary Art (ILOMOCA), shop and dine in Festive Walk Mall, chill in Festive Walk Parade, attend events in the Iloilo Convention Center, or stay in our world-class hotels. We expect more tourists to come to our township as more establishments and attractions open in the coming months,” explains Palmares-Fong.

Belmont Hotel Iloilo is scheduled to open in 2023.

 

 

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Event

Sun Life Financial: Iloilo How To #LiveBrighter 2017

Sun Life Financial #LiveBrighter Featured Image

Last Saturday, October 14, Sun Life Financial-Philippines held its #LiveBrighter Forum at Seda Atria, Mandurriao, Iloilo City to share their passion and mission on helping Filipinos become financially independent. The event is saturated with financial literacy and freedom. Their advocacy is not just to sell policies but definitely to help every Filipino in managing financial resources and planning out investments suitable to one’s personal lifestyle.

Sun Life Live Brighter Forum

Sun Life Financial in Four (4) Sentences

Sun Life Financial already had more than a century. In 1895, the company introduced life insurance in the Philippines. They survived two world wars and countless economic crises proving their resilience and prudence in the industry. This makes the Sun Life Financial-Philippines (SLFP) not only the first but also the longest-standing life insurance company in the country.

Sun Life Live Brighter Forum

Sun Life #LiveBrighter: Savings does not entail a Sacrifice but rather a Management

This is the first arrow that hit me during the forum. Part of this advocacy is to educate people about money matters and eradicate misconception on saving. Most Filipino when asked about their opinion in savings, their initial reaction is that they will have to give up some parts of their motivation in life.

Sun Life Live Brighter Forum

But as discussed by Sun Life Regional Sales Manager and forum speaker, Valerie Lagarde, you don’t have to sacrifice what motivates you like eating good food, traveling to places, buying useful stuff. You just have to manage them all especially your finances. Plan out ahead. Weigh everything on where to invest. Prioritize what is essential but take note what is on your leisure list. You can enjoy and save at once.

Sun Life #LiveBrighter: Get in the business of helping people

The next arrow that hit my senses is helping people can be a business. The difference with just a business that only earns to a business that helps individuals to better their lives is passion. This is what embodies Churchill Bejemino, a Sun Life Advisor with a transformed life. His passion is to really help people understand the value of a good investment, financial planning, and management. He advocates especially to millennials the value of investing even just a little amount for the future. Let’s not be driven only by what the present shows us. But let’s manage our present to achieve what the brighter future is showing us.

Sun Life Live Brighter Forum

Sun Life #LiveBrighter: Bank Versus Insurance for Millennials

When asked about millennials’ take on where to put their money (bank or insurance), a simple yet very substantiated answer struck me. This is the last arrow that hit my mind. Know the different types of investment and determine the purpose of each, said Mike Gustillo. Basically, between the two, bank and insurance, the difference is the length of terms. Bank can be part of your short-term investment suitable for your daily, weekly or monthly needs because you can easily access the amount. However, if you are looking into long-term investment, you can choose insurance plan which will yield larger amount couple of years from now.

Sun Life Live Brighter Forum

Also, during the forum, they gave everyone a chance to become their family as Sun Life Advisor. Here are quick information on this.

5 Steps to #LiveBrighter as Sun Life Advisor

  1. Join a #LiveBrighter Forum
  2. Attend the interviews/take the POP(Personality Orientation Profile) Screen Test
  3. Take the Licensing Exam at the Insurance Commission
  4. Finish the Sun Life Training Course
  5. Complete the contracting and coding process

Benefits of Being a Sun Life Advisor:

  • It is rewarding in compensation and generous in time. As a Sun Life Advisor, your earning potential is limitless and you can also enjoy the flexibility of time.
  • It allows you to see the world. A job well done is rewarded with a trip to exotic continents and exciting destinations.
  • It’s a noble and fulfilling profession. You can make a positive difference in the lives of others by helping them fulfill their financial goals.
  • Sun Life is a professional agency with a bright legacy. You can shine your brightest because you are with a good company. Sun Life is the number one and the longest-standing life insurance company in the Philippines.

Sun Life Live Brighter Forum

In the end, what matters is the length of support Sun Life can give us being a financial advisor. I want to end this with a snippet of a successful Sun Lifer. #LiveBrighter in your future!

“I have trusted Sun Life for over 20 years. I’m glad they’re still with me as I enter this new phase in my life.” – Charo Santos – Concio, Policy Holder since 1992.

Check out other events.

Follow Sun Life Financial-Philippines at Facebook, Twitter and Instagram (@SunLifePH) and check out their web: http://sunlife.com.ph/

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