Megaworld recently announced that they expect the population of their townships across the country to reach at least 1 million by 2020. According to Megaworld chairman and CEO Andrew L. Tan, this will comprise of 600,000 condo and village residents and 400,000 business process outsourcing (BPO) and office workers.
The Megaworld Group – consisting of Megaworld Corporation and subsidiaries Global-Estate Resorts, Inc.; Empire East Land Holdings, Inc.; and Suntrust Properties, Inc. – currently has a total of 15 townships in Metro Manila, Cavite, Laguna, Batangas, Cebu, Iloilo, and Davao. From a total population of 400,000 (250,000 residents and 150,000 BPO and office workers) at present, Tan says the increase means a jump of 150%, and also pointed out that this upsurge is indicative of opportunities for Megaworld’s partners in the commercial and retail industry.
In a recent announcement, the company revealed its plans to expand further with plans for two new townships in Luzon, two in Visayas, and one in Mindanao. Megaworld is also launching at least 20 new malls and commercial centers in existing and new townships in five to eight years.
“More townships mean more jobs and opportunities. From construction to BPOs, from retail and food to small-and-medium enterprises and transportation, our townships help create economic clusters, which in turn help boost purchasing power and consumerism among Filipinos,” Tan explained.
Last year, Megaworld also made public their intent to spend Php 230 billion developing their existing townships until 2019.
Photo from Megaworld Corporation Facebook page