Tycoon Andrew Tan-led property developer Megaworld Corp. has set aside a larger amount of P36 billion for capital outlays this year to fund “targeted” projects comprising mostly of residential developments.This budget marks a 29-percent increase from the actual capital expenditure (capex) last year.
The company seeks to realign project developments with the restrictions brought about by the strict quarantine measures affecting construction activities as well as demand for residential properties especially in Metro Manila.
Around 76 percent of the budget will be for real estate developments, particularly the construction of new residential properties. The remaining 24 percent will b…
Keep on reading: Megaworld to spend bigger budget of P36B with prudence, caution