June 10, 2019 | 12:11 am By Arra B. Francia Senior
Reporter
MEGAWORLD Corp. wants all of its
townships to be fully reliant on renewable energy sources by 2025, in a bid to
make its developments sustainable for the future.
“Our goal by 2025 is all of our
townships will have renewable sources,” Megaworld Chief Strategy Officer Kevin
Andrew L. Tan told BusinessWorld in a recent interview.
“We want to switch our supply to renewable
sources. So we’re asking all of our power suppliers to make that switch
already. That will be the transition for the next three years,” Mr. Tan added.
The listed property developer
currently has 24 townships across the country, the latest of which is called
Empire East Highland City which is being developed with its subsidiary Empire
East Land Holdings, Inc. The 24-hectare estate is located along F. Felix Avenue
in Cainta.
Megaworld’s other townships include
Eastwood City in Quezon City; Newport City in Pasay City; McKinley Hill,
McKinley West, Uptown Bonifacio, and Forbes Town, all in Fort Bonifacio, Taguig
City; The Mactan Newtown in Cebu; Iloilo Business Park in Mandurriao, Iloilo
City; Sta. Barbara Heights in Iloilo; and Boracay Newcoast in Boracay Island,
among others.
In line with its “live-work-play”
concept, Megaworld townships have a mix of residential, office, commercial, and
retail establishments.
Mr. Tan said the company will
implement the shift by township, with the first changes to be seen in Iloilo
Business Park.
“We are actually doing it in Iloilo
first, given that there’s some new developments there on the distributor side
and the supply side. We piloted our solar power there,” he explained.
Iloilo Business Park spans 72
hectares and is the company’s largest investment in Western Visayas. Megaworld
is spending P35 billion to develop residential condominiums, office towers, a
lifestyle mall, hotels and convention centers, retail areas, and a transport
hub in the township in the next 10 years.
The company also said it will
incorporate solar panels into the roof of its P1.2-billion Upper East Mall
inside its Upper East township in Bacolod City. The three-storey mall will be
Megaworld’s first green mall featuring sustainable and energy efficient
designs.
Megaworld grew its net income
attributable to the parent by 16% to P3.8 billion in the first quarter of 2019,
after consolidated revenues also increased 15% to P14.9 billion.
It is spending P65 billion in
capital expenditures this year to support the property development in its
townships.
The company is part of tycoon Andrew
L. Tan’s holding firm Alliance Global Group, Inc., which also has core
interests in liquor, gaming, quick-service restaurants, and infrastructure
development.
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