Megaworld holds 2018 capex steady at P60 billion
Megaworld Corp. is keeping its capital expenditures steady for 2018 after it booked a double-digit growth last year fuelled by the strong sales from its residential, office, hotel, and commercial space leasing businesses.
In a statement issued Monday, March 26, the Andrew L. Tan-led firm said it will be allotting P60 billion for capital spending this year, the same amount it committed to spend in 2017.
About 80% of the 2018 capex will go to the development of residential, office, and commercial developments within Megaworld’s townships. The company will use the remaining 20% for land acquisition and other investment properties. — Arra B. Francia
