The Future of Philippine Real Estate
There are always opportunities in the midst of challenges to make a lasting impact on communities.
The following are excerpts taken from the presentation of Mr. Kevin Tan, Chief Strategy Officer, Megaworld Corporation during the first day of Megaworld International’s Revolutionizing the Future of Real Estate, Philippine Property Expo held last July 30, 2021.
Innovation has always been at the core of everything at Megaworld Corporation. Helping Filipinos fulfill their dreams of owning a home, building office developments, introducing lifestyle malls, each carry a unique character to promote the Philippines’ best tourism destination. The first 30 years of Megaworld’s existence tells a remarkable story of innovation, resilience and success in the face of adversity. After the Mt. Pinatubo eruption, Asian Financial Crisis, and other challenges, Megaworld explored different avenues to survive. After experiencing all these challenges, Megaworld drew inspiration from its founder and Chairman, Dr. Andrew Tan to bounce back a lot stronger.
Hunger and desire for innovation
In 1999, Megaworld introduced its first-ever integrated, urban township, Eastwood City. The idea was to create a city within a city where one could live, work, play and learn in a world-class and highly integrated environment. Megaworld takes great pride in Eastwood City’s role in revolutionizing real estate developments in the country. It was instrumental in the rise of the Philippine BPO sector as it was the first to become the country’s IT Cyberpark. Eastwood has now grown into a 19-hectare, vibrant, mixed-use community. The winning formula for Eastwood CIty has become the blueprint as Megaworld builds townships from one city to another. The success of Eastwood City is just one of the many firsts the company enjoyed throughout its 32-year history. The company also takes pride for being the first in the country to introduce in-house real estate financing to help more Filipinos own a home they deserve. Megaworld was also the first Philippine property company to set up a global sales network by establishing Megaworld International back in the late 90s with presence in more than 60 countries all over the world. Throughout its journey, Megaworld has been embracing innovation. The company now has 26 townships, integrated lifestyle communities, and lifestyle estates. Each township has a major economic anchor that impacts different sectors.
Megaworld By The Numbers:
725 Residential Developments
20 Lifestyle Malls
1.4M sq.m. of Leasable Office Space
70+ Office Towers
4,000 Hotel Room Keys
11 Homegrown Hotel Properties
50 Cities and Municipalities (Baguio in Northern Luzon to Davao in Mindanao)
5,000 Hectares of Landbank
Looking ahead at the future while helping fulfill the potential of various areas, Megaworld continues to keep its goal: to develop thriving districts in the next 10 years and beyond. As the company marches towards the future, Megaworld continues to grow and build communities with innovation in mind. The company has quickly migrated its selling and marketing functions online. From the first point of contact with its customers to digital selling platforms, from paying the reservation fee up to the after sales service, everything has been digitized. The company is also putting together marketing events virtually. The virtual event platform has been the strategic approach in response to the new normal brought about by the pandemic allowing the company to engage to a wider audience. The company also introduced 360-degree virtual tours of its townships and various residential developments so buyers can appreciate the project no matter where they are. Launched in 2018, iTownship is the company’s way of introducing the townships of the future. First Oceanic Property Management (FOPM), Megaworld’s property management arm, has also introduced iFAE, an all-in-one app where residents and tenants can make payments etc. Megaworld has also introduced solar farms as part of its commitment to be 100% reliant on renewable energy by 2025. Rooftop organic farming, which also started in Eastwood City, will gradually lower carbon footprint emissions because of effective heat insulations, less energy consumptions and big energy savings. There are always opportunities in the midst of challenges to make a lasting impact on communities. Last year, Megaworld launched AGILE Digital Ventures, Inc. which spearheads the company’s investments and ventures in technology. Through AGILE, the company launched Pick-A-Roo, an all-in-one on-demand lifestyle delivery app. All of these innovations are true testament to the company’s commitment to sustainability and innovation for the communities of today and tomorrow.