obelix wrote:yeahbah wrote:parang LR
Nah. I think LR is consolidating.
their charts looks similar to me, so MEG is consolidating din siguro
Welcome to the top twenty something index issues of the PSEi that have big market capitalization, plus some banks and financial big caps as well
Jennee Grace U. Rubrico
In a bid to expand the Eastwood City Cyberpark in Libis, Quezon City, publicly listed property developer Megaworld Corp. is talking to owners of land located beside the township project.
This, as the firm expects to raise P12 billion in revenues for its residential project in Pasay City.
Megaworld is a developer of large-scale projects in prime locations in Metro Manila. The firm develops residential and office spaces as well as townhouses.
"We're looking at adjacent lots in Eastwood. We can either enter into joint ventures or we can purchase the properties, depending on what the land owners want. This is to expand Eastwood," said John T. Hao, investor relations officer.
The 16-hectare Eastwood City Cyberpark is a mixed-use residential, office and hotel development with a sprinkling of retail outlets.
The area has around 60 technology company locators employing 12,000 to 15,000 people.
Currently, Mr. Hao said, the township project only has enough space to build one more office building beside its 1800 office tower.
Mr. Hao said any additional property that will be acquired will likely be used for additional office space.
He said the company is also working on getting tax incentives for its hotel in Eastwood.
The company's 10 storey Eastwood Park Hotel will be located in a 30-storey mixed use building in Eastwood.
Construction of the building has started and will be completed either in 2009 or 2010, Mr. Hao said.
"We are applying for incentives for tourism. There is no other hotel in the Libis area. The nearest is in Ortigas. We're just trying to apply for incentives because the government is pushing tourism," he said.
For its Newport township project, Megaworld expects to raise P12 billion in revenues from the residential component of the 25-hectare development.
"This does not include the revenues from the hotel and the commercial and office space," Mr. Hao said.
Megaworld is selling 16 eight to nine storey residential towers in Newport, its mixed-use development located in Pasay City. It started marketing the first cluster of six buildings in November. Takeup, Mr. Hao said, is at 20%.
PROPERTY developer Megaworld Corp. said its net profit rose 43 percent to 1.15 billion pesos last year from 807.69 million pesos in 2004 on the back of higher property sales and rental earnings.
http://money.inq7.net/breakingnews/view ... 02&file=19
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