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The Megaworld spent more of the P36B's budget cautiously.

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Megaworld sets P36B capex this year, readies P8.3B new residential projects  – Bilyonaryo


Tycoon-led real estate developer Andrew Tan Megaworld Corp. has set aside $ 36 billion in capital expenditures this year to fund "Target" projects, comprising mostly residential developments. The budget is up 29 percent from actual capital expenditures (capex) last year.The company seeks to adjust its project development approach with constraints caused by stringent quarantine measures affecting construction activities as well as housing needs, particularly in Metro Manila.About 76 percent of the budget will be real estate development expenses,

especially for building new homes. The slotxo ออโต้ remaining 24 percent will be investment properties. No amount has been allocated for the new Land Bank project.We remain cautious and cautious in our spending as we continue to observe how the vaccination program will advance and where this pandemic will take us in the coming months. This is a very targeted capex program aimed at optimizing our existing cash utilization during this period, ”Megaworld Chief Strategy Officer Kevin Tan said in a statement on Thursday.This year, Megaworld will bring four residential projects to the real estate market, particularly in key provincial cities at Maple Grove in Cavite,

Capital Town in Pampanga, Iloilo Business Park in Iloilo City and The Upper East in Bacolod City.These new residential projects are expected to generate sales of approximately 8,300 million baht.Within this year, Megaworld has also sold more than 4,000 units and more from completed residential developments across the country, with a total value of approximately $ 60 billion.Residential units scheduled for turnover are in Uptown Bonifacio, McKinley. Hill, McKinley West, Eastwood City, Westside City, Capital Town Pampanga, Iloilo Business Park and Makati City “We look forward to easing the restrictions in the second half. For the moment, it's still waiting and watching But we are optimistic that the domestic economy will recover rapidly when these stringent quarantine measures are lifted, ”said Tan. - Doris Dumlao-Abadilla.

Topic starter Posted : 07/05/2021 3:41 am