Property developer Megaworld Corp. said Wednesday it is entering the ultra-high-end residential market, with its first luxury project priced from around P100 million per unit.
Megaworld investor relations head Andy Dela Cruz said the group’s maiden project would be launched “very soon.”
“These projects will be extremely limited and highly curated,” Dela Cruz said at an investor briefing. “We may launch only one or two projects a year.”
The new developments will be built on select parcels within Megaworld’s existing townships and recently acquired properties.
Dela Cruz expects the ultra-luxury segment to have a significant impact on the company’s residential business, noting the new ventures would have “very strong price points and definitely margins as well compared to our usual products.”
He said the company has more than 4,000 hectares (9,884 acres) of undeveloped land nationwide, along with valuable parcels from existing townships, that could be used for the planned luxury projects.
The new venture will allow Megaworld to diversify its portfolio and tap into a market that has remained resilient despite an oversupply in the broader property market and high interest rates.
Megaworld, meanwhile, is pursuing a selective launch strategy in the capital region to manage the oversupply, while focusing on strong-performing areas like Uptown Bonifacio.
For 2025, the company has set a capital expenditure budget of P50 billion, with 80 percent allocated for project development and the remaining 20 percent for land acquisition.
The company’s net income for the first half of 2025 hit P12.09 billion, up 23 percent year-on-year. For the second quarter alone, earnings totaled P6.26 billion, a 31-percent increase from a year earlier.
