Megaworld Corporation
 | |
| Company type | Public |
|---|---|
| PSE: MEG | |
| Industry | Real estate |
| Founder | Andrew Tan |
| Headquarters | , |
Key people | Andrew Tan (Chairman) |
| Parent | Alliance Global Group, Inc. |
| Website | www.megaworldcorp.com |
Megaworld Corporation (PSE: MEG) is a real estate company in the Philippines. It is listed on the Philippine Stock Exchange Composite Index.[1]
The company is primarily engaged in developing large-scale mixed-use planned communities, incorporating residential, commercial, educational, and leisure components. Additionally, it engages in activities such as project design, construction oversight, and property management. Among its landmark projects is Forbes Town Center, a 6-hectare commercial and residential district in Fort Bonifacio, Metro Manila.[1] Another project by Megaworld is the 45-storey Petron Megaplaza office skyscraper, which was the tallest building in the country upon its completion in 1998.[2]
Megaworld is the leader of Philippines residential condominium market, holding 16% share. Its financial position is solidifying every year, allowing greater projects and possibilities. 11 new projects are to be launched by Megaworld Corporation in 2012, adding a significant amount to existing portfolio of over 40 residential projects under development. The company allocated PHP 25 billion of investment for 2012, which is fairly the same volume as that of 2011.[3]
History
Megaworld Properties & Holdings Inc. was founded by Andrew Tan and incorporated under Philippine law on August 24, 1989, primarily aimed at engaging in real estate development, leasing, and marketing. In 1994, it spun off Empire East Land Holdings Inc., which focused on the middle income market. It was converted to a public company on June 15, 1994.[4] On August 19, 1999, the company changed its name to Megaworld Corporation in line with its conversion from a purely real estate company to a holding company, though the company's core focus continues to be on real estate.[1]
Megaworld has won several awards for good corporate management. Among its accolades are being named Best-managed Philippine Company by Finance Asia (1999, 2001, 2004 and 2007), Euromoney (2003), and Asiamoney (2007). It was also named Best in Investor Relations by Finance Asia (1999, 2004, 2006, 2007) and Asiamoney (2004, 2007).[5]
In 2007, Megaworld renamed a high-rise condominium project formerly called "The Trumps" into "One Central" after American real estate magnate Donald Trump threatened legal action over the name, saying the name "Trump" is unmistakably associated with him.[6]
Andrew Tan has served as Chairman of the Board and President of the company since its incorporation in 1989.[4]
Projects
Townships
- Eastwood City, Quezon City
- Forbes Town Center, Taguig City
- Manhattan Garden City, Quezon City
- McKinley Hill, Taguig City
- Newport City, Pasay City
- Cityplace Chinatown, Manila
Residential
- One Central, Makati
Office
- The World Centre, Makati
- Petron Megaplaza, Makati
References
- ^ a b c "Megaworld Corporation". Philippine Stock Exchange. Retrieved 2009-12-02.
- ^ "Petron Megaplaza, Makati". Emporis. Retrieved 2009-12-04.
- ^ "Megaworld Corp. To Put PHP 25 Billion Into New Projects".
- ^ a b "Megaworld Annual Report 2008" (PDF). Megaworld Corporation. Retrieved 2009-12-02.
- ^ "About us". Megaworld Marketing International. Retrieved 2009-12-04.
- ^ Megaworld renames disputed 'The Trumps' after Donald Trump complains
