Residential projects prop up Megaworld reservation sales

Megaworld Corp., the property development arm of businessman andrew Tan, on Tuesday said it has booked P38 billion in reservation sales for various residential projects during the first half of the year.

Last year, it recorded P80 billion in sales reservations.

For the entire second quarter, Megaworld generated around P17 billion in reservation sales, at a time

when most parts of the country were placed under enhanced community quarantine.

“While the method of selling real estate during quarantine period was quite challenging, our digital sales strategies that we’ve been working on since two years ago paved the way for faster, smoother and safer transactions, and client engagements,” Lourdes Gutierrez-a lfonso, the company's chief operating officer, said.

Reservation sales in June alone reached P7 billion as demand for residential lots in Calabarzon, particularly in Cavite, Laguna and Rizal, as well as residential properties in Boracay Newcoast and Iloilo Business Park, went up.

Megaworld’s provincial properties make up most of the sales booked during the second quarter. The company's projects in Arden Botanical Estate in Cavite; Eastland Heights in Antipolo, Rizal; Hamptons Caliraya in Laguna; Mckinley Hill and Mckinley West in Taguig; as well as projects in Makati and Pasig, contributed to the bulk of the period’s reservation sales.

“Even during the enhanced community quarantine in Luzon during the second quarter, we received a lot of inquiries and reservations via our online channels mostly coming from the upper mid-market,” Alfonso said.

The company has opened its showrooms for residential projects across the country with enhanced safety protocols in place, such as pre-visit registration, contact-less payments, document sanitation, and digital presentations aside from the standard regular disinfection of the showroom premises and equipment.

Clients who visit showrooms are also given their own hygiene kits, the company said.