Megaworld Corp., the property development arm of businessman Andrew Tan, said it is allotting some P55 billion in capital expenditures for this year, some 19 percent higher than the previous year’s P46 billion. Know more:
Megaworld Corp., the property development arm of businessman Andrew Tan, said it is allotting some P55 billion in capital expenditures for this year, some 19 percent higher than the previous year’s P46 billion.
“Mall rent is expected to exceed pre revenues on the back of higher occupancy pandemic and full rent collection,” it said. “Expect hotel growth to continue in line with improving outlook for leisure and MICE [meetings, incentives, conferences and exhibitions] activities.” Megaworld’s income reached P15.4 billion last year, up 7 percent from P14.4 billion in 2021, boosted by double-digit revenue growth across all of its business segments.
Residential sales for the entire year climbed 18 percent to P36.84 billion from the previous P31.12 billion, with a 34 percent growth during the last quarter of the year.
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