Megaworld to develop iTownships

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Megaworld Senior Vice President for Commercial Division Kevin Andrew L. Tan -- Photo by Anna Mogato

MEGAWORLD Corp. is currently developing a concept called iTownships, which seeks to digitize services in its existing estates and incorporate smart home technologies in individual units.

In a statement issued over the weekend, the listed property developer said this includes the digitization of customer and payment processes, integration of smart home technology in residential units, and the use of digital technology and energy efficient materials in structural designs.

Megaworld Senior Vice-President for Commercial Division Kevin Andrew L. Tan said iTownships will become the company’s new brand in “creating the townships of the future.”

Megaworld will also create Township Operation Centers, allowing it to maximize security, safety monitoring, and emergency response to every township. A smart parking system which includes electric vehicle charging in mall developments and other areas may be added as well.

Mr. Tan said they have now deployed teams to study how the integration of smart technology and innovations into its townships can be achieved. This will potentially benefit the 22 townships that Megaworld has developed over the last 28 years, which includes more than 660 residential developments, 54 office towers, and 15 malls.

“In this fast-changing digital world, we see the importance of aligning our developments to quickly adapt to the disruptions, which we perceive as opportunities,” Mr. Tan said.

Alongside incorporating digital aspects to its townships, Megaworld will also enhance green and sustainable features with this program. For instance, the company will be converting old streetlights to LED and solar-powered lights, green roofing for office buildings, and the addition of vertical green spaces.

Incorporated in 1989, Megaworld primarily engages in the development of master-planned communities that include residential, commercial, leisure, and entertainment components. The company’s subsidiaries and associates include Empire East Land Holdings, Inc., Global-Estate Resorts, Inc., Suntrust Properties, Inc., and Richmonde Hotel Group International Limited, among others.

Megaworld’s net income attributable to the parent grew 11% to P9.98 billion in the first nine months of 2017, against the P8.98 billion it generated in the same period in 2016. Revenues, meanwhile, increased 5% to P37.1 billion during the same period.

Megaworld is the real estate unit of tycoon Andrew L. Tan’s holding firm Alliance Global Group, Inc., which also has core investments in gaming through Travellers International Hotel Group, Inc., liquor through Emperador, Inc., and quick service restaurants through Golden Arches Development Corp. — Arra B. Francia