Megaworld top residential condo developer in PHL from 2000 to 2011

Megaworld Corp. says it has launched the biggest number of residential condominium units from 2000 to 2011. Citing the latest study by CBRE Philippines, Megaworld told the Philippine Stock Exchange on Monday that it has cornered 16 percent of the market, which translates to more than 40,000 condominium units. In addition, the overall volume of units launched by Megaworld in the same 12-year period represents an estimated total aggregate saleable area of about 1.9 million square meters or 17 percent of the market. Colliers International previously cited Megaworld as the No.1 residential developer based on the number of residential units completed and to be completed until 2016 and the total aggregate saleable area. Both CBRE Philippines and Colliers International are global companies that provide a roster of real estate services. “Megaworld has the distinction of being recognized by two international real estate services firms as the No.1 residential condominium developer. This is a testament to the company’s dedication to address on a large scale the Filipinos’ need for quality homes in the very best locations,” said Francis Canuto, Megaworld senior vice president. In 2011 alone, Megaworld put on stream eight new projects: One Eastwood Avenue in the developer’s pioneering 18-hectare Eastwood City township in Quezon City; 101 Newport Boulevard and Belmont Luxury Hotel in the 25-hectare Newport City in Pasay City; One Uptown Residence in the new 16-hectare Uptown Bonifacio in the Global City; Tower 1 of The Viceroy in the 50-hectare McKinley Hill in Fort Bonifacio; the second tower of Manhattan Heights, the third phase of the 5.7-hectare Manhattan Garden City at the Araneta Center; the 31-story Greenbelt Hamilton in the Makati CBD; and Eight Newtown Boulevard, Megaworld’s first luxury residential project in Mactan, Cebu. Megaworld is also looking to target a wider range of customers through the projects of its subsidiaries, Empire East Land Holdings Inc. and Suntrust Properties Inc. For the first nine months of 2011, the Megaworld Group, through these two companies, has sold more than 7,400 residential units amounting to P27.8 billion. - CMA/OMG, GMA News