Megaworld expanding Eastwood City to cater to more BPOs
The company announced in a stock exchange disclosure on Monday, May 26, that it acquired a property located at the eastern part of the Quezon City township along Eastwood Palmtree Avenue, beside the Eastwood Le Grand Tower 3.
The purchase brings Eastwood City's total land area to 18.5 hectares.
At least 3 office towers are in the pipeline. First to rise is a high-rise, mixed-use tower that combines residential, office and commercial in a cluster.
PROPERTY developer Megaworld Corp., a company led by billionaire Andrew Tan, said it has no plans of acquiring another company next year, with its capital expenditures (capex) returning to “normal.”
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“We just want to continue to develop [Megaworld] until we exhaust all our land bank. Eastwood City has been around since the 1990s, but until now it’s not finished and we are still developing it, making it bigger,” Sian said, referring to its first township development in Libis, Quezon City.
MANILA – Andrew Tan-led property developer Megaworld said it will be spending P285.8 billion in the next five years for its capital expenditure program, 24 percent higher than the initial 5-year, P230 billion capex announced last year.
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Three hotel towers will also be launched in Boracay Newcoast, 10 office towers in McKinley West, McKinley Hill, Eastwood City, Woodside City, Davao Park District, and Southwoods City; and three malls and commercial centers across its townships all over the country.