Megaworld eyes P20-B rental income in 2020

ABS-CBN News

Posted at Feb 01 2017 11:15 AM

MANILA - Megaworld Corp. said Wednesday it expects rental income to breach the P20 billion mark by 2020 as it completes nearly a million square meters of fresh rental inventory.

Megaworld said income from more than 2.5 million square meters of total rental space is seen to hit P20 billion in the next three years, more than doubling the P9 billion rental income in 2015.

The company will have around 1.5 million square meters of office space and commercial and retail space inventory of 1.17 million square meters by 2020, it added.

"By the end of this year, we will breach the 1-million square meters of office space inventory as we continue to experience a demand for office spaces,” Jericho Go, senior vice president at Megaworld said.

Megaworld shares were down 0.54 percent to P3.65 on Wednesday.