Alliance Global Group, Inc. (AGI) is bracing for a year of expansions and growth in 2019. Its real estate business is among the branches of its venture it hopes to expand. It is also looking to take advantage of the economic growth in the Asia-Pacific region in the hopes to fast-track the company's growth, Business World Online noted.
AGI CEO Kevin Andrew Tan spoke on behalf of Megaworld Corp., stating that the construction company would be doing projects in various places from when it re-opened last October. Chief among these places is Boracay, but projects are also planned in places such as Bacolod, Cebu, Davao, and Pampanga.
Global-Estate Resorts, Inc. (GERI) is the outfit behind the new Boracay Newcoast, a 150-hectare project that the Megaworld Subsidiary is building. It will include a lot of structures for guests and investors, including--but not limited to--residential condominiums, some hotels, and a shopping district with housing mixed in.
Kevin Tan told the Manila Bulletin in an interview that these projects were part of Megaworld's goals for 2019. He said that there will be 'more townships and new projects' galore, as well as some new hotel projects outside of Metro Manila. Mr. Tan hoped that these projects would also contribute to the growing tourism business in the country.
As for Megaworld's property businesses, Tan said that the office segment remains a lively prospect. He also believes that office spaces are a big business to invest in, partly due to his personal belief that business processing centers (BPO) in the Philippines are flourishing once more.
The leisure and gaming arm of the business only has good vibes on the horizon, the AGI CEO believes. Travellers International Hotel Group is busy with two new properties, the Sheraton and the Okura, at the Newport township. 2020 is definitely going to be a big year for AGI and Megaworld as well with the launch of the Ritz Carlton.
AGI and Megaworld are eyeing more projects, but perhaps two that takes priority above anything else would be the Metro Rail Transit Line 3 link and the monorail Skytrain. The MRT Line 3 will be linked to Uptown Bonifacio township in Taguig, while the Skytrain will be all of the two-kilometers, both catering to the 100,000 commuters that rely on trains as transportation day in and day out.
