The Andrew L. Tan-led company expects the project to generate P6.5 billion in sales. It will be hiking its capital expenditure budget accordingly. It previously announced that it would spend approximately P15 billion for the township.
“Maple Grove Park Village is inspired by contemporary tropical architecture that naturally exudes a sense of ease and warmth perfectly suited for a resort-style residential settings,” said Megaworld Vice-President for Sales and Marketing Eugene Em Lozano. “AGI continued with its impressive growth momentum in the first quarter of the year as the overall improvement in mobility has allowed all our businesses to perform further closer to pre-pandemic levels, boosting revenues of our lifestyle malls, hotels and our quick service restaurants,” AGI Chief Executive Kevin Andrew L. Tan said in a statement.
In the first quarter, Megaworld reported that its attributable net income was up by 30% to P3.1 billion. Real estate sales grew 36% to P8.1 billion on the back of increased project completion, while reservation sales went up 12% to P23.2 billion. “Its brandy segment, however, was impacted by rising costs, capping overall profit margins,” it added.
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