Real estate, leasing, and hotel revenues post strong double-digit growth

MANILA, Philippines, May 10, 2023 ‐ Megaworld, the country’s pioneer developer of integrated townships, posted a net income of P4.6-billion in the first quarter of this year to surpass its quarterly performance during the pre-pandemic levels for the very first time. This figure was up 30% from P3.5-billion during the same period last year as all core businesses registered strong topline growth. Consolidated revenues grew by 24% to P16.2-billion. The company’s performance in the first quarter of 2023 marks its full recovery from its pre-pandemic performance. Consolidated revenues and net income are already 9% and 11% higher, respectively, compared to the first quarter of 2019.

Likewise, net income attributable to the parent company’s shareholders stood at P4.1-billion and grew by 33% compared to the same period last year. 

“We start the year strong as we continue sustaining the recovery momentum of our businesses and finally grow past our pre-pandemic performance for the first time since the pandemic began in 2020. This affirms our position in the industry and ability to quickly adapt in this new environment and capture opportunities,” says Kevin L. Tan, chief strategy officer, Megaworld.

Real estate sales for the quarter grew by 17% year-on-year to P9.4-billion, driven by the higher completion rate of its projects. Similarly, residential pre-sales surged by 71% to P39.6-billion in 1Q23 and already accounts for 30% of the company’s year-end pre-sales target of P130-billion. The company saw renewed demand in Metro Manila during the quarter especially in its projects in McKinley West and Uptown Bonifacio, Taguig City. 

Leasing revenues, on the other hand, grew by 18% to P4.4-billion with the growth led by the performance of the mall segment.

Megaworld Premier Offices posted P3.1-billion in rental income during the period, marking a firm 5% increase from the P3.0-billion last year. This resulted from the growing transactions from both traditional and BPO tenants, as well as emerging businesses. 

Megaworld Lifestyle Malls saw revenues jump by 73% in the first quarter, amounting to P1.2-billion. The stellar growth was mainly driven by increased spending and higher rents as the company started to collect full rents beginning January 1, 2023. 

Megaworld Hotels & Resorts saw revenues soar by 62% to P813-million in the first quarter of 2023, compared to P503-million in the same period last year. This was largely driven by the continued growth of in-city hotels, MICE activities, as well as the strong growth in Food & Beverage (F&B) revenues.

“As we move forward, we are now focused on sustaining our strong growth and look to close the year with a record performance for Megaworld,” reveals Tan.

To date, Megaworld has 30 master‐planned integrated urban townships, integrated lifestyle communities, and lifestyle estates across the country, namely:

• Eastwood City in Libis, Quezon City, (18.5 hectares); 
• Newport City in Pasay City (25 hectares); 
• McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town (5 hectares), all in Fort Bonifacio, Taguig City;
• Lucky Chinatown in Binondo, Manila (3 hectares);
• The Mactan Newtown in Lapu‐Lapu City, Cebu (30 hectares);
• Iloilo Business Park in Mandurriao, Iloilo City (72 hectares);
• Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares);
• Boracay Newcoast in Boracay Island (150 hectares);
• Twin Lakes in Alfonso, Batangas near Tagaytay (1,300 hectares);
• ArcoVia City in Pasig City (12.3 hectares);
• Southwoods City in the boundaries of Biñan, Laguna and Carmona, Cavite (561 hectares);
• Davao Park District in Lanang, Davao City (11 hectares);
• Alabang West in Las Piñas City (62 hectares);
• Eastland Heights in Antipolo, Rizal (640 hectares);
• Suntrust Ecotown in Tanza, Cavite (350 hectares);
• Maple Grove in General Trias, Cavite (140 hectares);
• The Hamptons Caliraya in Lumban‐Cavinti, Laguna (300 hectares);
• The Upper East (34 hectares) in Bacolod City;
• Northill Gateway (50 hectares) in the boundaries of Bacolod City and Talisay City in Negros Occidental;
• Capital Town Pampanga beside the Pampanga Provincial Capitol in the City of San Fernando (35.6‐hectares);
• Westside City in the Entertainment City in Paranaque City (31 hectares);
• Empire East Highland City in Cainta, Rizal (24 hectares);
• Arden Botanical Estate in the boundaries of Trece Martires and Tanza, Cavite (251 hectares); 
• Paragua Coastown in San Vicente, Palawan (462 hectares);
• Northwin Global City in Marilao and Bocaue, Bulacan (85 hectares);
• Winford Resort Estate in Manila City (3 hectares);
• Sherwood Hills in Trece Martires, Cavite (340 hectares). 

Camella is holding a photography contest featuring the amenities and community features inside Camella communities and their affiliate food and beverage outlets, such as Dear Joe and Coffee Project. The "Splash" photography contest is open to both professionals and hobbyists and will showcase different water movements or elements captured through photography, such as water running from fountains, water from sprinklers, dew drops, raindrops, or water activities like swimming. The entrants can also take splash photos of their beverages in participating F&B outlets.

Aside from this photography contest, Camella will also organize summer-related activities every weekend in its communities nationwide, such as picnic and glamping dates, drive-in movie dates, food fairs and bazaars, chalk art brigades, tie-dye making events, and bicycles for rent for kids and kids at heart to enjoy. These activities are perfect for families who want to spend quality time together while enjoying the warm weather.

Summer is the perfect time to take a break, relax, and have fun with family and friends. With Camella's Summer Splash 2023 activities and photography contest, you can beat the heat and create unforgettable memories that will last a lifetime.

Talking about unstoppable, HONOR Philippines has just opened its first experience store in Cebu at SM City Consolacion, Upper Ground Cyberzone. Following its SM Fairview store opening, the leading smart devices provider vows to reach more Filipinos by the end of the year, targeting at least 100 experience stores.

The store opening was well received by Cebuanos with a jam-packed crowd interested to catch HONOR’s latest offerings. To see the full event highlights, check out this video (https://bit.ly/40CUci5)..

“By having more and more avenues to cater our HONOR fans and tech enthusiasts alike, we stay true to our promise of providing better service to Filipinos. With that, expect back to back store openings, more products to launch, and big announcements from us this coming weeks,” said Stephen Cheng, HONOR Philippines Vice President.

Going regional

Right after its first two experience store openings, the leading technology brand officially teased the opening of more experience stores in Luzon, Visayas, and especially in Mindanao.

Updated experience store openings of HONOR Philippines:

HONOR X9a 5G now in Limited-Edition Midnight Black

The new limited-edition HONOR X9a 5G Midnight Black was also showcased during the store opening. Lucky mall-goers were handpicked to participate in the viral HONOR smash challenge where the winner got to take home an HONOR X9a 5G!

This crowd-favorite sports a 120Hz Premium OLED Curved Display bringing users a large screen with an impressive screen-to-body ratio. HONOR X9a 5G has an impressive 64 MP Super Triple Camera and a 2-Day Battery Life.

Hurry and go now to the nearest HONOR Experience Store or any HONOR kiosk and partner dealer store as this HONOR X9a 5G Midnight Black comes in limited stocks only!. HONOR X9a 5G Midnight Black is also now available through your favorite online stores – Shopee (https://bit.ly/3oh9VGt), Lazada (https://bit.ly/3L0VuyT), and TikTok Shop (https://vt.tiktok.com/ZS8WXk7ow/), priced at P16,990.

If you want to win your own HONOR smartphone, it is also not too late to join the HONOR Summer Reel Contest! Interested participants can capture their best summer trip and post a video on their social media accounts with the hashtags #HONORPH, #GoBeyond, and #HONORPHSummer2023.

For more announcements, you may visit HONOR’s website www.hihonor.com or social media platforms: Facebook (Facebook.com/HonorPhilippines), Instagram (Instagram.com/honorphilippines/) and TikTok: (Tiktok.com/@honorphilippines). To check out HONOR’s complete list of retail stores, go to https://www.hihonor.com/ph/retailers/.

Cebu continues to be the biggest real estate location outside Metro Manila. The demand continues to increase, with the take-up for upscale residential development increasing from 6% in 2020 to 24% in 2021[1]. Meeting this demand is RLC Residences’ Mantawi Residences, the developer’s newest premium development strategically located along Ouano Avenue where thriving Cebu City and Mandaue meet.

RLC Residences brand ambassador Heart Evangelista.

RLC Residences unveiled Mantawi Residences at a grand launch event on April 14, 2023, at NUSTAR Resort and Casino. The event was attended by Senior Vice President and Business Unit General Manager John Richard B. Sotelo, Senior Director Marketing Head and Chief Integration Officer Karen Cesario, and Assistant Vice President and Business Development and Design Head Stephanie Anne Go. The launch was also graced by brand ambassador Heart Evangelista. 

“We are happy to come back here in Cebu with another promising project that is Mantawi Residences. We are very proud to finally unveil this development that we envisioned for our future residents who are on the lookout for a home and investment that they can proudly call theirs,” said Chad Sotelo.

RLC Residences Executives with brand ambassador Heart Evangelista.

Cebu as RLC Residences’ roots 

The premium property marks RLC Residences' return to its roots, after the successful launches of its existing developments in Cebu. John L. Gokongwei, Jr., who grew up in Cebu with his family, built and established the strong foundation of the Gokongwei Group. The peddler-turned-successful businessman alludes to Cebu as the place where he learned his values in life and realized the true meaning of progress.

Driven by his bold and enterprising ideas, John Gokongwei led the rise of one of the largest and most diversified Filipino conglomerates. Its roster of companies includes JG Summit Holdings, Inc., which houses the real estate giant Robinsons Land Corporation. His outlook and courage to explore multiple opportunities is a guide that RLC Residences proudly follow as it develops condominiums in strategic locations, aiming to empower people to live their best lives.

“We at RLC Residences feel that Mantawi Residences is a project that best represents Mr. John’s vision, which is to continuously search for opportunities and move successfully in life. That’s why we designed this condo development with unique and high-quality features that can support our future residents’ quest for success,” shared Sotelo.

Mantawi Residences: Cebu’s next frontier of progress

RLC Residences’ Mantawi Residences artist renders 

The property is also accessible to two progressive cities: Mandaue and Cebu City, and is only 5 kilometers away from Cebu-Cordova Link Expressway – considered to be one of the progress indicators in the area. Future developments are also on the pipeline, as the Mandaue government plans to develop the Metro Cebu Expressway and the Cebu Bus Transit plus turning the Cebu International Port into an international cruise docking area. Another key program is the development of a premier waterfront development featuring a commercial space, and a luxury district.

Beyond its strategic location, Mantawi Residences also promises spacious living spaces and built-in smart home devices to its residents. The development is proud to offer its exclusive and spacious penthouse units with multiple loggias where residents can conveniently appreciate the beautiful city skyline of Cebu. Mantawi Residences is also home to one-, two-, and three-bedroom units with upgraded home furnishings – all generously-spaced so homeowners can conveniently live their best life.

The upscale development is also proud to introduce its 1.3-hectare amenity area, where hyper-sized and above-standard facilities will soon be made available. The property is set to feature an abundant variety of landscaped areas, beach-inspired swimming pools, a cascading water wall, a pet park, an outdoor play area, and many more. The property will also offer a curated retail experience at the ground floor, featuring global brands, so life’s necessities and luxuries are within easy reach.

“Mantawi Residences perfectly captures RLC Residences’ Raise, Live, Connect vision. With this property, we aim to raise the standards of living in Cebu, so residents can live smart and productive lives while they connect with their loved ones,” shares Sotelo.

To know more about RLC Residences and Mantawi Residences, please visit rlcresidences.com.

[1] https://www.colliers.com/en-ph/research/radar-cebu-residential-real-estate-2022

About RLC Residences

RAISE, LIVE, CONNECT

Embracing the future with the RLC Residences Brand

For three decades, Robinsons Land Corporation’s Residential Division has been committed to improving the lives of Filipinos. Vital to its success is its understanding of and responsiveness to emerging residential trends like urbanisation, digital lifestyles and work-life imbalance.

RLC presents RLC Residences, a new brand that every modern family and young urban professional will be proud of. This brand integrates Robinsons Luxuria, Robinsons Residences and Robinsons Communities into a singular brand. With the merging of resources and a simplified structure in place, RLC Residences is more empowered to deliver a seamless customer journey for its clients. Equally, RLC Residences has redefined its core product offering encapsulated into its tagline 'Raise, Live, Connect'.

'Raise' is about ‘raising the game’ by elevating the design and quality standards of new residential developments by RLC Residences, with the engagement of globally recognized firms in the design and property sector resulting in standout developments that every homeowner would be proud to showcase and own. Embracing the future with the RLC Residences brand

'Live' stands for smart and productive living. It promises to deliver innovation with the provision of smart home features and storage solutions to address the lifestyle needs of start-up to growing families as well as the highly driven and career-oriented young professionals. It also provides venues for day-care centres or study halls and incorporates work-from-home spaces in the developments making work-life integration possible.

'Connect' is all about allowing homeowners to connect with their loved ones in a convenient manner. RLC Residences projects are smartly placed in destination estates or the bustling or emerging CBDs. Developments are also transit-oriented and boast of rest and recreational amenities suited for bonding and relaxation. These elements combined provide time and energy savings for homeowners so that they can swiftly be in places and with people that matter to them most.

RLC Residences embraces the future with much optimism. It brings with it experience and credibility in delivering an impressive and growing portfolio of projects over the last 30 years and its redefined purpose of building beautiful and well-designed residential projects that all of its stakeholders will be proud of.

Making the right choices in life is important to succeed in our careers. Some of our choices shape us to who we are in the future. At the Center for Industrial Technology and Enterprise (CITE) Technical Institute, Inc., education does not only guarantee students gain adequate knowledge and practical skills but also address the job-skills mismatch which enhance their employability, thereby supports the industry.

Located in San Jose, Talamban, Cebu City, CITE was established in 1990 through the inspiration of the first prelate of Opus Dei, Bishop Alvaro del Portillo, CITE aims to provide quality technical education to the less privileged youth in the Philippines. Currently managed by Executive Director, Engr. Ruben Laraya, CITE offers a 3-year diploma program in Mechanical Engineering Technology, Electrical Engineering Technology, Electronics Engineering Technology, and Computer Engineering Technology, which prepares students to become skilled technologists that are in high demand by various industries.

With the Dual Training System or DTS, a unique feature of the program, CITE immerses students in the industry for one and a half years, with corresponding allowances for meal and transportation expenses. CITE also offers a support system for its students, including scholarships, mentoring, recollection, school clubs, and character development programs that nurture their academic and formative aspects.

Enacted into law by the Philippine government in 1994 though Republic Act 7686, the Dual Training System (DTS) aims to increase the TVET educational institutions’ responsiveness to the demands of the industry by combining in-plant training and in-school theoretical instructions.

CITE graduates are distinguished for their competence and work values, making them marketable in companies whose entry level requirements are at par with world-class standards. However, not all students have the means to enroll in CITE's program. Many financially challenged families cannot afford the tuition fees and other expenses, which can be a barrier to their children's education and future. This is where CITE's scholarship program comes in.

The scholarship program provides financial assistance to deserving students who have the potential to excel in their chosen fields but lack the resources to do so. With the scholarship, students can pursue their dreams of becoming skilled technologists without worrying about the financial burden on their families. The program covers tuition fees, laboratory fees, and other expenses related to their studies.

Apply today and take the first step in meeting both industry needs (employment skills match) and individual needs (portable skills to move across the labor market and support lifelong learning).

To know more about CITE and its programs, visit www.cite.edu.ph