Megaworld sets P50 billion capital expenditure for 2022; to launch 4 townships

ABS-CBN News

Posted at Jun 06 2022 09:06 AM

MANILA - Megaworld Corp said on Monday it allocated P50 billion for capital expenditure in 2022. 

The total is 39 percent higher than its 2021 CAPEX of P38 billion, the Andrew Tan-led firm said in a disclosure to the stock exchange.

Seventy-five percent will be spent for real estate developments such as the construction of new residential properties and land development of townships, it said.

Meanwhile, 25 percent will be used for investment properties and land banking, it added. 

Megaworld said it would also launch 4 new townships which will be located in Metro Manila, 2 in CALABARZON and one in Mindanao. New townships will cover around 500 hectares of land.

Megaworld currently has 28 townships and integrated communities in 30 cities around the country.

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