Global-Estate Resorts, Inc. (GERI), the Philippinesβ leading developer of master-planned integrated tourism estates and a subsidiary of Megaworld, posted consolidated revenues of P5.0-billion for full-year 2021.
Megaworld grew its net income by 36% to P14.4-billion last year from P10.6-billion recorded in 2020, just as the company registered gains in line with the improving business environment.
Government to grant incentives to a new housing scheme to make homeownership accessible while addressing backlog
The Board of Directors of MREIT, Inc., the REIT company of township developer Megaworld, has approved the acquisition of four prime, grade A buildings located in PEZA-registered zones for a total consideration of P9.1-billion. The transaction will increase MREITβs property value by 19% to P58.5-billion.
Township developer Megaworld is developing a sustainable boutique hotel and shophouse district within its 462-hectare Paragua Coastown in San Vicente, Palawan.
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