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Alliance Global on 9-mo profit hits P19.3B; Q3 earnings up 10%

Alliance Global

MANILA, Philippines, November 14, 2019—Alliance Global Group, Inc. (AGI), the investment holding company of tycoon Dr. Andrew Tan, reported a net income of P19.3 billion in the first nine months of the year, registering a growth of 4% from the P18.7-billion level the year before.

Excluding non-recurring gains, core profit grew 9% to P19.1-billion from P17.6-billion the previous year.

Consolidated revenues increased remarkably by 17% to P127.0-billion from P108.8-billion during the same period last year, reflecting an accelerated growth pace from the first half.

Attributable net income stood at P12.8-billion, up 7% from last year’s P12.0-billion. Excluding non-recurring gains, core attributable profit grew 11% to P12.7-billion from P11.4-billion the previous year.

“We continue to work hard to deliver the strong performance across all our business segments,” says Kevin L. Tan, chief executive officer, AGI.

“We undertake product innovations, capacity expansions and even pursue digital transformations in order to further strengthen our diversified portfolio amidst this fast-changing market.  We believe these deliberate strategies will soon bear fruit, allowing our Group to show accelerated growth in future earnings,” Tan adds.

For the third quarter alone, consolidated revenues soared 19% to P44.2-billion, amid strong contributions from all its key business units.  These include its real estate development arm Megaworld Corporation, gaming and leisure operator Travellers International Hotel Group, Inc., liquor subsidiary Emperador Inc., and quick service restaurants (QSR) unit under Golden Arches Development Corporation (GADC).

Net income for the quarter climbed by 10% to P6.8-billion, with attributable profit higher at 12% to P4.7 billion than the previous year.

“We have operating leverage.  We will continue to strive to achieve efficiencies so that when sales improve, this could translate to an even stronger Group performance,” explains Tan.

Megaworld, the country’s largest township developer, recorded attributable profit of P12.8-billion in the first nine months of the year, a 14% improvement from its year ago level of P11.2-billion.  Consolidated revenues grew 17% to P48.1 billion as its core operating segments sustained their respective strong growth trajectories.

The combined leasing contributions from Megaworld Premier Offices and Megaworld Lifestyle Malls continued to show accelerated growth of 19% in rental revenues to P12.4-billion (26% of topline), coming on the back of adjustments in rents and increases in gross leasable space.

Development revenues also grew at annual clip of 11% to P30.7-billion, or 64% of group topline, coming largely from its projects in Uptown Bonifacio, McKinley West, and Westside City townships.   During the same period, reservations sales reached P114-billion, underpinned by P58-billion worth of project launches.

Travellers International, owner and operator of Resorts World Manila (RWM), recorded a sharp 49% increase in consolidated net revenues to P16.4-billion from P10.9-billion.  Gross gaming revenues shot up by 52% to P20.9-billion, boosted by the sustained recovery in the VIP segment, healthy growth in the mass business, improved hold rates and increased foot traffic to the RWM complex.

EBITDA for the nine-month period reached P4.1-billion, up 27% year-on-year, while attributable net income stood at P786-million.

AGI’s hotel business also continued to soar, with revenues growing at a stellar rate of 59% to P5.4-billion from P3.4-billion amid increases in hotel room capacities.  The nine-month period saw incremental contributions from its recently-launched Hilton Manila Hotel and Sheraton Manila Hotel under Travellers International, as well as Twin Lakes Hotel, Hotel Lucky Chinatown, and Belmont Hotel Boracay under Megaworld Hotels.  The newest addition to its growing hospitality business is the 547-room Savoy Hotel Mactan Newtown in Megaworld’s 30-hectare Mactan Newtown township in Lapu-Lapu City, Cebu.  This brought the Group’s total hotel room count to over 6,100 keys to date.

Alliance Global

Emperador, the world’s biggest brandy producer and owner of the world’s fifth largest Scotch whisky manufacturer, posted a healthy 11% improvement in consolidated revenues to P33.8-billion in the first nine months of the year from P30.6-billion the year before.  Gross profit grew at the same 11% clip to P12.1-billion, keeping its gross profit margin stable at 37%.  Attributable net income stood at P5.3-billion, up 3% from last year’s P5.1-billion.

The brandy segment registered a robust 13% growth in revenues to P24.1-billion, driven mainly by its popular premium brands Fundador and Tres Cepas, its flagship Emperador Brandy, and recently-expanded gin brand, The Bar.  The whisky segment under Whyte and Mackay registered P9.3-billion in revenues, up 5% year-on-year, supported by its single malt brands led by The Dalmore and Jura, and its blended whisky Whyte&Mackay.  This segment’s contribution would have been higher if not for the weak exchange rate of the British Pound (GBP) into Philippine Pesos (PhP).

GADC, which holds the exclusive franchise to operate restaurants in the Philippines under the “McDonald’s” brand, showed exciting results with attributable net income up by 18% to P1.2-billion.  This came on the back of a sharp 14% jump in revenues to P23.- billion, helped in part by its strong same-store sales growth of 6% during the nine-month period versus 3.8% the year before.

GADC also continued to pursue its store expansion program, bringing its total store count to 652 by end-September, increasing from 620 stores in end-2018.  Already, 106 of these McDonald’s stores are in the NXTGEN format.

AGI, meanwhile, also implemented another round of its share repurchase program of up to P2.5-billion, which will run for 12 months starting September 2019.  Since the start of the new buyback program, about 84 million AGI shares have been bought back, amounting to around P950-million.

 

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Megaworld International Corporate Plaza To Sell Office Spaces Iloilo Business Park

Megaworld International Corporate Plaza

ILOILO CITY, Philippines, July 24, 2019 – Property giant Megaworld is launching a new office tower in Iloilo Business Park, with 301 prime office units for sale to businesses, start-up companies, and established enterprises that want to set up operations in Iloilo’s newest ‘central business district.’

The 19-storey International Corporate Plaza offers prime office spaces ranging from 26 square meters to 65 square meters. With an average price of P155,000 per square meter, the tower will house ‘managed facilities’ at the 6th level, that include two Boardrooms, three meeting rooms, co-working and breakout areas, an Executive Lounge, and a Skygarden.

Another skygarden will be found at the International Corporate Plaza tower’s rooftop, providing a refreshing, tranquil views of the bustling cityscape as well as Guimaras Island.

“So far, this will be the most modern and state-of-the-art office tower in Western Visayas where companies including entrepreneurs can own their office spaces and enjoy its generous facilities never been seen before in any office building in the region,” says Jennifer Palmares-Fong, vice president for sales and marketing, Iloilo Business Park.

To rise within the township’s 9-hectare Commercial and Boutique Hotel District, the International Corporate Plaza will also have a four-level parking podium, retail spaces and arcade area at the ground floor. Keycard-enabled turnstiles will provide enhanced security for the building’s main lobby, and RFID cards will be used to secure the parking areas.

Megaworld International Corporate Plaza

The new office tower will also be fiber optic-ready, and equipped with its own seismic detection and monitoring system, building management system (BMS), 24-hour Security and Fire Command Center, fire security system, and a 100% back-up power facility.

“One of the main highlights of the tower is its enhanced security and safety features, another first in Western Visayas,” adds Palmares-Fong.

Aside from the skygardens, the International Corporate Plaza will also be highlighted by other green and sustainability features that include the use of LED lightings in the tower’s common areas such as hallways, lobby and amenity floor; use of dual flush-type water closets in common toilets, and a Materials Recovery Facility (MRF) for proper waste segregation and recycling.

The tower is expected for completion in 2024. The company is expected to generate P2-billion in sales from this new office development to be known as the most modern International Corporate Plaza packed with green facilities.

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April 17, 2019
Travel

Iloilo Business Park Transport Hub: Western Visayas’ First Premium P2P Bus Services

Transport Hub

ILOILO CITY, Philippines, July 10, 2019 – Property giant Megaworld is set to open its Transport Hubs this year to serve the requirements of the region’s first Premium P2P service in Iloilo Business Park.

The P350-million Iloilo Business Park Transport Hubs will have two terminals – one for departures and another for arrivals – that will be strategically located along the township’s Megaworld Boulevard, just in front of the Festive Walk Mall.

Transport Hub

Traveller’s Lounge

Each terminal, sitting on a 4,000-square meter lot each, will feature its own Traveler’s Lounge, an airconditioned facility where passengers can relax and wait for their trips at the Departure Terminal, and also wait for their transits or pick-up vehicles at the Arrival Terminal. Each lounge will have shower rooms and toilets, all for the convenience of departing and arriving passengers.

At the Traveler’s Lounge of the Departure Terminal, passengers will also have the convenience of booking and purchasing their tickets at its own Ticketing Booths. It will also have Breastfeeding Stations, and Free WiFi access.

Each terminal will also have its own Food Park where passengers can indulge in wide array for food choices while waiting.

At the second and third level of each terminal, 200 parking slots will be made available for free.

“We aim to provide world-class and convenient service in land transport for the local and international travelers in and out of Iloilo City. Hopefully, this will serve as a model for other transport hubs in the region,” says Jose Arnulfo Batac, head of estate management, Megaworld.

LTFRB Region 6 is rolling out the first Premium Point-to-Point Buses in Western Visayas tomorrow, July 11, with Iloilo Business Park as its main hub in Panay Island.

The project is part of the government’s Public Utility Vehicle Modernization Program (PUVMP), a flagship program spearheaded by the Department of Transportation (DOTr).

Transport Hub

Ticketing Office

Around 106 P2P buses, equipped with the auto-pay system, will be launched on July 11, serving the following routes: Iloilo Business Park to Iloilo Airport, Iloilo Business Park to Roxas Airport, Iloilo Business Park to Kalibo Airport, and Iloilo Business Park to Caticlan Airport (Boracay), and vice versa.

At the same time, the LTFRB Region 6 will also simultaneously launch other modernized PUVs composed of 365 taxis and 165 jeepneys, which are also equipped with the auto-pay system.

“We thank the LTFRB Region 6 for this partnership, and we hope that we are able to contribute to the success of this modernization campaign for the betterment of the country’s transport industry. All of our townships, especially those in urban centers, serve as convergence points of motorists and commuters. Thus, we integrate transport hubs in our developments to meet the transport needs of the local community,” explains Batac.

Megaworld’s Iloilo Business Park in Mandurriao District, Iloilo City is a 72-hectare integrated urban township that is home to rows of residential towers, state-of-the-art office towers, the Festive Walk Mall, the 1.1-kilometer Festive Walk Parade, two first-class hotels (Richmonde Hotel Iloilo and Courtyard by Marriott, the Iloilo Convention Center, the Iloilo Museum of Contemporary Art (ILOMOCA), and the rising Commercial and Boutique Hotel District.

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Event

Megaworld Targets 30 Townships, Lifestyle Communities By 2020

Megaworld

MANILA, Philippines, June 17, 2019 – Megaworld, the country’s largest developer of integrated urban townships and lifestyle communities, is set to launch six more townships this year until 2020. This will bring the company’s township portfolio to 30 by next year.

These new developments will cover an expansive land area of around 2,000 hectares. Most of these are from new land acquisitions carried by Megaworld Group’s land banking efforts during the last five years.

Five of these new expansive townships and lifestyle communities are in Luzon, while one is in Mindanao.

“Currently, we have a little over 4,000 hectares of both developed and developable land. By next year, we will increase our land ownership and land holding to more than 6,000 hectares as we continue to focus on our goal to expand to key growth areas in the provinces; help boost tourism, provide jobs, and further spur economic opportunities outside of Metro Manila,” reveals Kevin L. Tan, chief strategy officer.

At present, Megaworld already has 24 townships and lifestyle communities spread across the country: Nine (9) in Metro Manila, which include Eastwood City, McKinley Hill, Forbes Town, McKinley West, Uptown Bonifacio, Newport City, Alabang West, Westside City, and Arcovia City; eight (8) in Luzon, which include Capital Town Pampanga, Eastland Heights, Twin Lakes, Southwoods City, Suntrust Ecotown, Maple Grove, Hamptons Caliraya, and Highland City; six (6) in the Visayas, which include The Mactan Newtown, Iloilo Business Park, Boracay Newcoast, The Upper East, Northill Gateway, and Sta. Barbara Heights; and one (1) in Mindanao, the Davao Park District.

The Megaworld Group is composed of mother company Megaworld Corporation and its subsidiaries Global-Estate Resorts, Inc. (GERI), Empire East Land Holdings, Inc. (EELHI), and Suntrust Properties, Inc.

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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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Highland City: Megaworld, Empire East To Build P20-B Township In Cainta, Rizal

Highland City Feature

MANILA, Philippines, March 11, 2019 – Megaworld, the country’s largest developer of integrated urban
townships, along with its subsidiary Empire East Land Holdings, Inc., is developing a 24-hectare property
along F. Felix Avenue in Cainta, Rizal, to become the Highland City township. The 24-hectare ‘Empire East Highland City’ will be a master-planned community of residential condominiums, mixed-use towers, lifestyle mall and retail areas, church and an expansive green park.

The company’s 24 th township development, Highland City, will host the expansive Highland Mall with a
gross floor area of around 58,000 square meters, rows of residential towers on a highland area, mixed-
use towers, a church as well as open and green parks.

“We are building another Megaworld Lifestyle Mall that showcases another unique character,
complementing the ‘highlands’ or sloped landscape of the property. The Highland Mall will offer around
58,000 square meters of retail spaces,” reveals Kevin L. Tan, executive vice president and chief strategy
officer, Megaworld.

Highland City will be highlighted by the Highland Park, an 8,000-square meter green and open park,
which will house some retail areas and a 500-seating capacity church. The park will elevate towards the
mall and will serve as a ‘grand welcome’ to the township. On both sides of the park will be a six-lane
road which will serve as the main street entrance to the township.

“We are very excited about this new township that will evoke a character of a city sitting on highlands.
Empire East will develop around 38 residential towers on the elevated portion of the township. These
towers will serve as a dramatic backdrop to the vision of ‘Highland City.” Our proposed Highland Mall
under the Megaworld Lifestyle Mall brand will also be a centerpiece of the development. We will
integrate it with an expansive park that opens towards the township’s main entrance,” says Tan.

Forty percent of the entire development will be dedicated to green and open spaces. Aside from the six-
lane main road, the internal roads will be at least four lanes.\

Megaworld and Empire East will spend P20-billion in the next 10 years to develop Highland City. Land
development will commence by second quarter of this year.

Megaworld owns 82% of Empire East Land Holdings, Inc., which has been known for the development of
mid-cost housing developments including several transit-oriented residential developments in Metro
Manila and in other parts of Luzon during the last 25 years. Among its projects include Laguna Bel-Air
and The Sonoma in Sta. Rosa, Laguna; San Lorenzo Place in Makati City; The Rochester and Kasara Urban Resort Residences in Pasig City; Little Baguio Terraces and Mango Tree Residences in San Juan; Covent
Garden in Sta. Mesa, Manila; as well as California Garden Square, Pioneer Woodlands, The Paddington
Place in Mandaluyong City.

During the last 30 years, the Megaworld Group has built over 660 residential developments, 57 office
towers and 17 lifestyle malls in 23 masterplanned townships and integrated lifestyle communities across
the Philippines. These 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 Alfonso, 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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Megaworld Unveils Iconic Martin Delgado Monument in Iloilo Business Park

Martin Delgado

Iloilo City – Philippines, January 19, 2019 – In Iloilo where the city’s rich history is present in every corner, the 8.8-meter bronze statue of the greatest Visayan ‘revolucionario’ General Martin Delgado in Iloilo Business Park (IBP) is something that is hard to miss.

A masterpiece created by Spanish sculptor Gines Serran-Pagan, one of the world’s most renowned international contemporary artists, the Gen. Delgado statue has become nothing short of a landmark in the City of Love. Located at the Casa de Emperador inside Iloilo Business Park, the statue stands proudly as a tribute to Ilonggo hero’s historic feat.

“We are very happy to have such an iconic masterpiece here in Iloilo Business Park, especially one that bears a stamp of artistic greatness courtesy of Gines Serran-Pagan. This statue is truly a fitting reminder of the continued emergence of Iloilo as a progessive city that puts the arts, history, and culture at its very core,” says Kevin L. Tan, executive vice president and chief strategy officer, Megaworld.

The statue was first made in clay, then fiber glass, and eventually casted into bronze by Serran-Pagan himself. It took almost a month for the statue to arrive here in the Philippines from China where it was created, but the overall design and preparation of the massive artpiece took more than three years to be completed.

“I feel really proud because General Martin T. Delgado deserved this honor for having sacrificed his life for Iloilo. The bronze sculpture has the durability of thousands of years. His legacy will be an inspiration to future generations. My gratitude to his family, the people of Iloilo, and to Dr. Andrew L. Tan and his company Megaworld for giving me the opportunity to create this monument and commemorate the most famous son and hero of Iloilo,” shares Serran-Pagan.

Born in Ceuta, Spain, Serran-Pagan has devoted his life in developing communities by combining art, anthropology, history and culture. Some of his remarkable sculptures include the Pillars of Hercules: Abyla and Caipe and The Union of the World: Monument to World Peace, deemed to be the largest works of art depicting Classic mythology in the contemporary world which are both in Gibraltar.

Just recently, Serran-pagan was feted with the Lorenzo de Medici Medal of the Artism Miami, Florida for his valuable contribution to the arts in the world. The recognition was bestowed upon him by Prince Lorenzo De Medici himself, the direct descendant of the Renaissance sponsor of the Arts.

With over 250 exhibitions across 20 countries, international news agencies and organizations consider Serran-Pagan as a western artist who has had more exhibitions in Asia. He earned a master’s degree in Anthropology from New York University and a PhD from City University New York. Serran-Pagan’s artworks are collected by major museums around the globe, including the Guggenheim Museum in New York.

Martin Delgado

Iloilo Business Park was recently named by the prestigious Philippine Property Awards as the Philippines’ “Best Township Development”, the IBP highlights the importance of art in further developing communities. Perfectly blending urban architecture with art, history, and culture, the 72-hectare Megaworld township has become the place where art enthusiasts discover more about their craft at the Iloilo Museum of Contemporary (ILOMOCA). One of the latest additions to Iloilo Business Park, the museum happens to be a sanctuary where Ilonggos and tourists alike can feed their love for the art with various paintings and sculptures from local and international artists.

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Event

Songs from the Sea at ILOMOCA by Renowned Artist Nune Alvarado

Songs From The Sea

In the coastal city of Sagay in Negros Occidental, Filipino artist Nunelucio Alverado – the creator of Songs from the Sea – has made not only a home but a community.

“Inaawitan ako ng dagat,” says Alvarado of the peace he found in this place – the kind that has paved the way for a new kind of prosperity, one that feeds back into his community to enrich the lives of its members through art.

Songs From The Sea

His latest series of paintings and objects dubbed as “Stories of Restoration, Songs from the Sea” is composed of works that appear to be a far cry from the jarring depictions of life in the cane fields and mills for which Alvarado has been known. Instead, the artist takes inspiration from the community he helped create, giving back through art what he himself has gained after over three decades of practice.

Songs From The Sea

“Tonight marks another milestone for us at Megaworld Foundation as we celebrate the first year since we ventured into the intricate world of museum management, and already we are closing the year with yet another highlight exhibit. Nune Alvarado’s ‘Songs from the Sea’ is a moving masterpiece that showcases the beauty of Filipino culture even in mundane everyday experiences. This is only the beginning and we are committed to upholding the undeniable talent of local creative minds and the promotion and preservation of art in the entire region,” says Tefel Pesigan Valentino, Vice President and Head of Marketing and Business Development of Megaworld Lifestyle Malls.

Songs From The Sea

Taking inspiration from the everyday stories of home

A proud Negrense himself, Nunelucio Alvarado is a painter known for his exceptional work as a social realist. A founding member of the Black Artists in Asia – one of the most prominent collectives in the region – Nune, as his friends fondly call him, is known for large-scale depictions of difficulty and despondency in the cane fields of Negros.

Songs From The Sea

While these works have won him awards and recognition, they have also drawn critical attention to the plight of the sakada, as well as other marginalized members of the society. Alvarado now lives in Sagay City, where he runs Kape Albarako, a café and art space that is integral to the city’s creative community.

An Aarts and Culture Jewel in Asia’s ‘best township’

Songs From The Sea

ILOMOCA is Megaworld’s first ever museum located at Iloilo Business Park, the company’s bustling 73-hectare township development in Western Visayas which was recently feted as the Country Winner for ‘Best Township Development in Asia’ at the 2018 Asia Property Awards held in Bangkok, Thailand.

The facility proudly embraces the distinction as the first art institution in Visayas and Mindanao exclusively dedicated to showcasing the works of mostly Filipino and Ilonggo artists within the realm of modern and contemporary art. As a major component in the development of IBP, IILOMOCA serves as a platform for Megaworld in reinforcing its thrust to preserve and promote the Ilonggo brand of artistry, culture and creativity.

Songs From The Sea

A glimpse 0f what you can find at Hulot Gallery today until December 10, 2018.

Songs From The Sea

Songs From The Sea

Songs From The Sea

Songs From The Sea

Songs from the Sea runs at the Hulot Gallery on the ground floor of ILOMOCA from November 11 up to December 10, 2018

To know more about Nune Alvarado’s exhibit, visit ILOMOCA on Facebook or call (033) 320-9903 and (033) 328 1028

Click here for more events.

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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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It’s Christmas at Book Latte! By the way, Book Latte is Iloilo City’s first library cafe, that is a fact. Cheers! It is located now at the Festive Walk Parade in Megaworld. In line with the season, they launched their new food menu with the hashtag #NewFoodxBookLatte.

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