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Megaworld set to invest P55b

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Megaworld Corp. of tycoon Andrew Tan said it will spend P55 billion in 2016 to build more office and shopping malls to boost its rental portfolio.

Megaworld’s programmed spending this year includes the investment requirement of other subsidiaries, namely Global-Estate Resorts Inc., Empire East Holdings Inc. and Suntrust Properties Inc..

Megaworld plans to spend at least 75 percent of the P55-billion capex for the construction of new malls, commercial centers, office buildings and residential projects in townships.

The balance will be spent for land acquisition and investment in properties.

Megaworld senior vice president Jericho Go said the property firm would start developing new townships in Pasig City, Bacolod City and Pampanga province. It will accelerate office and mall developments across existing townships.

“We are bullish on the office and retail sectors because we see a remarkable growth in these businesses,” Go said in a statement to the stock exchange.

The group is set to launch 14 office towers, malls and commercial centers in McKinley West, Uptown Bonifacio, The Mactan Newtown, Iloilo Business Park, Arcovia City, Southwoods City, The Mactan Newtown and Alabang.

“We will certainly achieve the P11-billion rental revenue target by year-end,” Go said.

The company is to launch 14 residential projects in Metro Manila, Pampanga, Iloilo, Tagaytay, Cavite, Davao, Baguio and Batangas this year.

The Megaworld Group in 2015 completed 16 residential projects and six BPO office towers with retail components across the integrated urban townships.

Megaworld currently has 20 integrated urban townships across the country, with total land bank totaling over 4,000 hectares across the country.

“Several townships are already mature, which means, we have already built in them the substantial components of a complete ‘live-work-play’ community, such as Eastwood City and McKinley Hill. We are moving towards making our other townships mature as well, especially those outside of Metro Manila,” Go said.

Megaworld owns 100-percent of Suntrust Properties Inc., 82 percent of Global-Estate Resorts and 82 percent of Empire East Holdings Inc. It has already built over 350 residential, office and commercial towers across the country.

Megaworld last year said it would spend P30 billion to develop a 35.6-hectare prime land beside the provincial capitol of San Fernando, Pampanga over the next 10 years.

“As part of our aggressive township expansion across the country, we are happy to announce our entry into Pampanga. This is the perfect time and opportunity to be present in this progressive province, where else but right at the heart of the provincial capital which is a prime location for an urban township development,” Go earlier said.

The first mixed-use development of Megaworld in Central Luzon, the project will adopt the live-work-play concept that the property company has been doing in the past few years.

Anatomy of a winner: The continued rise of Megaworld

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The Philippine real-estate sector is one aspect of our economy that continues to show promising signs of growth, even in the next couple of years.

Even as we see integrated developments and urban communities sprouting one after another in Metro Manila, property developers are still continuing to find huge investment and development opportunities by venturing out to the Visayas and Mindanao. Down south, Cebu has long enjoyed this continued prominence, but areas like Iloilo, Cagayan de Oro and Davao are also fast shaping as emerging development hubs outside of Metro Manila.

At the forefront of this sector’s continued progress is Megaworld. The Andrew Tan-led company recently cemented its status as one of the Philippines’s most successful property builders when it took home its first-ever “Best Developer” award during the 2016 Philippine Property Awards.Apart from bagging the most prestigious citation of the annual event, the Megaworld Group was also bestowed three major awards for Uptown Ritz (Best Residential Architectural Design); 8 Newtown Boulevard (Best Condo Development for Cebu); The Vineyard Residences (Best Condo Development for Resort); as well as 13 other “highly commended” awards for various developments, including Uptown Mall, Venice Grand Canal, Uptown Parksuites, Salcedo Skysuites, Uptown Tower 3, and Suntrust’s Shanata Residences, and One Lakeshore Drive.

Megaworld’s recent win only served to validate the organization’s commitment to bring world-class developments that truly speak volumes about the Philippines’s as a worthy investment destination. To date, the company has at least 20 integrated urban townships across the country and a total land bank spanning more than 4,000 hectares nationwide. It has nine township developments within Metro Manila and 11 others spread in various regions all over the Philippines. Additionally, it is also one of the biggest property developers in the Makati Central Business District, the country’s premier financial center, with a total of 27 residential and office towers built as we speak.

But apart from this extremely impressive portfolio, how does Megaworld really separate itself from the rest of the completion?

Making a mark through pioneering design

Megaworld bested a notable list of other property developers on its way to earning the Best Residential Architectural Design distinction for Uptown Ritz.

The standout 45-story luxury condominium sits as one of the prominent structures within the Uptown Bonifacio, Megaworld’s live-work-play master-planned township in Fort Bonifacio. The iconic property, which is set to welcome its future residents by June 2017, exudes a distinct mark of elegance and exclusivity, boasting a low-density community (as few as only six units per floor) with all-suite units that offer large, luxurious spaces for the modern urban Filipino. The property offers its future residents instant access to the British, American, and Japanese international schools in Bonifacio Global City, as well as St. Luke’s Medical Center, some of the country’s leading corporate offices, and a wealth of other lifestyle options in Burgos Circle and other neighboring stops.

A foresight for continued growth

Earlier this year the Megaworld Group kicked off its bid to aggressively grow further all over the Philippines when it funneled P55-billion in capital expenditures to boost its rental portfolio. At least 75 percent of this total amount will be spent for the development of new projects, including commercial centers, malls, and office and residential buildings within its township projects.

With long-term growth and continued industry leadership on its priority lists, Megaworld has also set its sights beyond Metro Manila by boosting its land bank and working on its existing assets. In fact, the group is set to launch 14 residential projects this year, all in Metro Manila, Pampanga, Iloilo, Tagaytay, Cavite, Davao, Baguio and Batangas. Fourteen office buildings, malls and commercial complexes are also set to rise among its already existing and future development hubs, such as McKinley West and Uptown Bonifacio, The Mactan Newtown, Iloilo Business Park, Arcovia City, Southwoods City and Alabang.

“Several townships are already mature, which means we have already built in them the substantial components of a complete “live-work-play” community, such as Eastwood City and McKinley Hill. We are moving toward making our other townships mature, as well, especially those outside of Metro Manila,” Megaworld Senior Vice President Jericho Go said.

Aside from this, Megaworld also recently made a move to tap into the promising millennial market by banking on technology and forging a partnership with Lamudi Philippines. This partnership was merely aimed to boost the former’s promotion initiatives for San Antonio Residence in Makati City.

These notable efforts, milestones and achievements only signal the start of bigger things to come from the Megaworld Group, which I expect will only take the competition among the biggest industry players to a whole new level.

11 Filipinos on Forbes 2016 world’s billionaires list

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Henry Sy ranked 71st on the Forbes 2016 world’s billionaires’ list. Ten other Filipinos also join him among the world’s richest.

The top 5 billionaires in the country, as identified by Forbes, are all familiar names and they are only reshuffling within the top 10 ranking of Forbes’ The Philippines richest list as of 2015.

Sy holds the top spot for eight consecutive years.

Henry Sy

The list, released by the business publication on Tuesday, March 1 (Wednesday morning, March 2 Manila time) showed that Sy, 91 and family’s net worth is at $12.9 billion, thus climbing to 71st world’s richest, two notches up from his 2015 ranking. He remains as the no. 1 billionaire in the country, with Sy’s SM Investments Corporation (SMIC) remaining the largest retailer in the country.

SMIC just announced this month that it is merging all its retail-related units under SM Retail. SMIC also has interests in real estate, shopping malls, and banking, and has a stake in privately-held National Grid Corporation of the Philippines (NGCP). The SM empire started as a footwear shop.

John Gokongwei Jr.

With a net worth of $5 billion, Gokongwei, 88, slid from no. 254 to this year’s 270th world’s richest. The second billionaire in the country, Gokongwei’s JG Summit started as a cornstarch plant and has now diversified interests in airlines, banking, beverages, hotels, power generation, property development, and telecommunications.

The conglomerate also has publicly listed Robinson Retail Holdings and franchises True Value, Top Shop, Toys R Us, Daiso. The conglomerate also has Summit Media (the licensee for Forbes and Entrepreneur in the country, among other major titles).

Lucio Tan

Tan, 81, slid from 369th in 2015 to world’s 380th richest this year. With a net worth of $4 billion, the third richest in the country (through his LT Group) has interests in banking, beverages, property development, spirits, and tobacco.

Tan regained 100% of flag carrier Philippine Airlines in 2014. A billionaire who mopped floors to pay for school, Tan started in business as a chemical engineer and enjoys flying helicopters.

George Ty

Ty, 83 has a 2016 net worth of $3.7 billion, but fell from 369th ranking in 2015 to this year’s 421st.

It was said that a bank’s refusal to provide him a loan prompted Ty, then 19 to start his own bank at 29. Starting Metropolitan Bank and Trust Company (Metrobank) with no financial training or experience, the bank today is the second largest, assets wise.

Ty, the country’s fourth richest, eventually got into power plants, Toyota vehicles, insurance, real estate, among other ventures, and his group is now eyeing to expand into business process outsourcing, infrastructure, and retail.

David Consunji

The country’s 5th richest, Consunji’s ranking fell hardest from 405th in 2015 to this year’s 569th with a net worth of $3 billion.

Consunji, 94, founded construction firm DMCI in 1954, and now has its most income from real estate, power generation, and infrastructure. A former concrete inspector, Consunji also has stakes in Semirara Mining, the country’s largest coal miner.

Andrew Tan

Tan, 63 also has a net worth of $3 billion to date though his ranking dropped from 330th in 2015 to 2016’s 569th, same with Consunji’s ranking. His Megaworld is known for building large apartment complexes in and around Metro Manila, and planning to accelerate office and retail projects this year.

His Alliance Global also has interests in food and beverage, gaming, and real estate, plus he owns the Philippines’ McDonald’s franchise. In November 2015, his Emperador agreed to buy Beam Suntory’s brandy business for $297 million. He is the fifth richest in the Philippines now.

Tony Tan Caktiong

Tan Caktiong, the 5th richest in the country showed gains this year, climbing high from 690th in 2015 to this year’s 569th billionaire in the world.

At 63 and with a net worth of $3 billion, his Jollibee fast food group (with Jollibee as the flagship brand) is really going global, even buying a 40% stake in US-food chain Smashburger in October 2015. He is now also venturing actively in real estate, “with fellow rich lister Edgar Sia II,” Forbes noted.

Enrique Razon Jr

Razon’s ranking dropped 431 notches from 291st in 2015 to be the world’s 722nd billionaire to date.

With a net worth of $2.4 billion, Razon, 55, is the 8th richest in the country who chairs and runs the largest port operator, International Container Terminal Services (ICTSI). It is now a global giant with presence in Eastern Europe, Africa, and the Americas. His hospitality firm, Bloomberry Resorts Co., includes the Solaire Casino and Resort in the Philippines.

Lucio and Susan Co

The husband and wife tandem of Co ranked 1121st (from 810th in 2015), netting $1.6 billion.

The 9th richest in the country, Cos started Puregold in 1998 and ended 2015 with 274 stores, thus becoming the second largest retailer in the country, after Sy’s SM Group. The Cos also have a money transfer company, retail pharmaceuticals, office supplies, gaming, hotels, wine distribution, and property development.

And in September 2015, “the Philippines’ Supreme Court cleared the company of liability in a $58 million tax case involving alcohol and tobacco imports,” Forbes noted.

Robert Coyiuto Jr

No. 9 richest in the Philippines, Coyiuto’s world ranking went down from 1054th in 2015 to 2016’s 1121st.

He chairs Prudential Guarantee & Assurance insurance firm, and also holds a 30% stake in NGCP. He also chairs and owns PGA Cars, an auto distributor of Audi, Bentley, Lamborghini, and Porsche. Coyiuto also established the first Porsche training facility outside of Germany, allowing underprivileged Filipinos to become elite technical specialists for the luxury vehicle brand. Coyiuto, 63, has a net worth of $1.6 billion.

Manny Villar

The former senate president is the world’s 1367th billionaire (from 1190th in 2015).

The 11th richest in the country, Villar, 66th, has a net worth of $1.3 billion. He has stakes in Starmalls, a David competing among the Goliaths SM and Robinsons malls in the country. His family is also into real estate through Vista Land & Lifescapes. Of humble origins, Villar used to sell seafood in the market with his mother—his life’s narrative as highlighted in his 2010 presidential bid.

Poorer?

The Forbes billionaires list is a snapshot of wealth taken on February 12, using stock prices and exchange rates from that day. “Some fortunes could have changed considerably since then,” Forbes noted.

And for 3 years in a row, and topping the list 17 times out of 22 years is Bill Gates with a net worth of $75 billion, though he got $4.2 billion poorer than a year ago, Forbes noted.

The list of the world’s richest went down from 1,826 in 2015 to 1,810 this year. Forbes cited “volatile stock markets, cratering oil prices, and a stronger dollar led to a dynamic reshuffling of wealth around the globe and a drop in 10-figure fortunes for the first time since 2009.”

“Of those who were billionaires both years, 892 are poorer while 501 added to their fortunes,” Forbes added.

Geographically, US has 540 billionaires; mainland China with 251 (Hong Kong has another 69); and Germany with 120. Russia has 77, 10-figure fortunes while Brazil is down 23 to 31, Forbes noted.

St. Moritz Private Estates: Exquisite lifestyle for the privileged few

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Property giant Megaworld brings the top European home and lifestyle brands together in one premier address in McKinley West, Fort Bonifacio

A new class of lofty lifestyle for Manila’s high society has set forth in Fort Bonifacio. Unique residential estates adorned with world-class European home and lifestyle brands are set to rise at the heart of a vivid upscale urban township.

St. Moritz Private Estates, one of the luxury estates inside the 34.5-hectare McKinley West in Fort Bonifacio, is designed with an inspiration from the most expensive loft apartments in London by collaborating with the world’s leading European architects, designers, and award-winning home innovators to create a more gracious living experience.

The two-clustered nine-storey residential development offers spacious two- to four-bedroom suites with balconies. Each unit will have its own private key card for utmost security and privacy while the penthouse units will have their own private pool.

St. Moritz Private Estates also features a bi-level amenity deck that has an exclusive infinity-edge swimming pool with fiber-optic lighting and childrenís pool, spacious state-of-the-art fitness center, yoga room, game room, childrenís play room and multi-function rooms.

For this European home inspiration, Megaworld has commissioned UK-based architectural firm, Broadway Malyan, to conceptualize and design St. Moritz Private Estates.

With over 500 design experts from all over the world, Broadway Malyan brings global architecture urbanism and design to over 43 countries in Europe, North and South America, Africa, Middle East and Asia Pacific. The award-winning company has received more than 240 prestigious awards since it was founded in 1967 for its iconic design of residences, office buildings, healthcare and academic institutions, and hotels the world over.

Broadway Malyan’s design for St. Moritz Private Estates highlights a modern European style with signature penthouses that feature three-levels of exquisite living – with floor to ceiling glass windows, and a private in-house infinity pool.

An exceptional collaboration among three of the top European lifestyle brands for home design and fixtures will be a distinct highlight of St. Moritz Residential Estates.

Each suite will feature the award-winning Philippe Starck design collection from DURAVIT, for bathroom and toilet; energy-saving and eco-friendly built-in home appliances from BOSCH; and sophisticated kitchen design by German brand, LEICHT, a collaboration that puts this development to a class of its own.

To know more about the posh lifestyle it offers in McKinley West, call 0915-9281140.

Megaworld partners with luxe brands for McKinley West

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For its newest project in residential development, Megaworld is building for the ultra high-end market. Fittingly enough, the project is located in its latest township, the 35-hectare McKinley West in Fort Bonifacio, Taguig, a development right next to Forbes Park which will have luxury residential estates, office buildings and high-end shopping and leisure centers.  Megaworld is spending P45 billion in the next 10 years to build McKinley West, which will have a mix of a modern business district and posh residential enclaves.

Megaworld senior vice president Noli D. Hernandez says that when they first launched the residential estates in 2010, the 250 units sold out in a week because buyers appreciated the low-rise (only about eight stories per structure) and low-density design of the estates (some units like the penthouses will have their own private elevators and lap pools).

Megaworld wanted the project to have a feel of European luxury and to achieve that, they started with the architecture by enlisting the services of the UK-based architectural firm Broadway Malyan, which has over 500 design experts all over the world.

Noli D. Hernandez, senior vice president, Megaworld says, ““Broadway Malyan brings global architecture urbanism and design in 43 countries in Europe, North and South America, Africa, Middle East and Asia Pacific. The award-winning company has received 240 awards since it was founded in 1967 for its iconic designs of residential, office, healthcare, education and hotels in different parts of the world.”

Next they looked for partners for the interiors and several names stood out, all of them multiple award winners in their respective categories. First was Leicht for the kitchen, a brand that has outfitted many European footballers’ kitchens including Lionel Messi’s home in Barcelona, Hollywwod’s Brad Pitt and Angelina Jolie’s, and Penelope Cruz’s homes.

Hernandez says when they were choosing which kitchen fixtures to go with, he just had to touch the surfaces of a Leicht kitchen (without knowing which brand he was looking at) and knew they had to go with it. The No. 1 brand in Europe, Leicht is in over 60 countries and offers 5,000 colors to choose from for its wide range of modern to traditional kitchens and everything in between.

 

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