Megaworld eyes P2.3-B sales from Cebu project
Credit to Author: Tyrone Jasper C. Piad| Date: Tue, 14 Jan 2020 16:21:00 +0000
MEGAWORLD Corp. is aiming to generate P2.3 billion in sales from its fifth residential development to be constructed in The Mactan Newtown in Lapu-Lapu City.
The listed property developer said in a disclosure on Tuesday that The Pearl Global Residences, a 20-level residential condominium tower, is slated for completion in 2025.
The project will offer executive studio, one-bedroom and executive one-bedroom and two-bedroom and three-bedroom units . Among the amenities are swimming pools, a fitness center, outdoor lounge, children’s play area, function room, game room, and co-working spaces.
“The Pearl Global Residences will showcase the Filipino pride to the world. We got the name from the country’s title of ‘Pearl of the Orient’, and as we expect more visitors and tourists to come to The Mactan Newtown in the coming years, we want this tower to be one of the icons of Filipino pride inside our development,” Megaworld Cebu Properties Inc. President Noli Hernandez said.
Megaworld saw its consolidated net income rise by 17 percent to P13.7 billion in the first three quarters of 2019 from year-earlier P11.7 billion, driven by robust revenue growth.
Net income attributable to parent posted a 14-percent increase at P12.8 billion for the period from the previous year’s P11.3 billion.
Megaworld shares climbed by 13 centavos or 3.06 percent to end at P4.38 apiece on Tuesday.