Megaworld enters ultra-luxury market

Property developer Megaworld Corp. is entering the ultra-luxury residential segment with the launch of SIGNATURE COLLECTION, a new portfolio of residences targeting the ultra-rich seeking privacy, permanence, and provenance.

“The Megaworld SIGNATURE COLLECTION is beyond what we’ve done before, it defines an entirely new category.

We recognize the need for us to diversify our portfolio and boldly tap into the opportunities in the ultra-luxury residential market,” Megaworld executive director Kevin L. Tan said during the company’s annual stockholders meeting on Friday.  

“These developments are so rare that Megaworld plans to offer these only in select locations, just once or twice every year,” he added.

Unlike the company’s earlier upscale offerings, the SIGNATURE COLLECTION will feature one-of-one residences, either individually designed developments in exclusive locations or units that offer never-before-seen amenities, innovations, or collaborations.

Megaworld President and Chief Executive Officer Lourdes T. Gutierrez-Alfonso said the brand was named to reflect the focus on design, with each development offered only to select group of buyers.

“We are creating an entirely brand new group to handle our Megaworld SIGNATURE COLLECTION. We will be launching our inaugural project for this category within the year,” she added.

Megaworld said it wants to capitalize on the growing demand for high-value, long-term real estate assets among ultra high net worth individuals, both locally and abroad. 

S&P Global, a US-based financial analytics firm, recently reported that the ultra-luxury real estate market in the country is seeing increased growth and strong demand, driven by buyers’ resilience to inflation and high interest rates.

Last year, Megaworld’s real estate revenues rose by 19 percent to nearly P51 billion. It also posted P131.9 billion in reservation sales and launched P31.8 billion worth of new projects during the year.