Megaworld subsidiary Global-Estate Resorts, Inc. (GERI), the Philippines’ leading developer of master-planned integrated tourism estates, registered a total net income of P412.2-million, up by 28% versus the P322.6-million it reported last year.
Property giant Megaworld is launching its fourth residential condominium development inside the 34-hectare The Upper East township in Bacolod City.
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.
MREIT, Inc., the REIT company of the country’s largest office landlord Megaworld, reported net income of P2.0-billion for the six months period ending December 2021, inclusive of a fair value gain on MREIT’s investment properties of P702.0- million.
Just a month after it announced its 28th township, the 85-hectare Northwin Global City in Marilao and Bocaue in Bulacan, Megaworld is developing around 16 hectares of land to become the township’s central business district (CBD), which will be aptly called the Northwin Main Street.
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