PHILIPPINES – Megaworld Corporation (PSE:MEG)’s stock closed higher in today’s trading session at the Philippine Stock Exchange (PSE), ending the day at Php4.34 a share.
Stock of the company, which is engaged in the development of large scale mixed-used planned communities or community townships that integrate residential, commercial, leisure and entertainment components, was up 2.12 percent to become second top gainer among blue chip stocks at the PSE.
Megaworld Corporation (PSE:MEG)’s stock opened at Php4.30, higher than last week’s close of Php4.25. It reached a high of Php4.35 and a low of Php4.27 before settling at Php4.34.
A total of 29.657 million shares, worth Php128.24 million, exchanged hands in today’s trading. Megaworld Corporation (PSE:MEG) has a 52-week high of Php5.94 and the 52-week low of Php3.76.
Megaworld earlier announced that it is developing a 35.6-hectare prime property beside the provincial capitol of the City of San Fernando, Pampanga.
The company is allocating Php30 billion to develop the property in the next 10 years.
“As part of our aggressive township expansion across the country, we are happy to announce our entry into Pampanga. This is the perfect time and opportunity to be present in this progressive province, where else but right at the heart of the provincial capital which is a prime location for an urban township development,” says Jericho Go, senior vice president, Megaworld.
The property is just approximately 70 kilometers away from Manila and closely accessible via the North Luzon Expressway (San Fernando Exit) and the Jose Abad Santos Avenue, also known as the Olongapo-Gapan Road. It is also around 20 kilometers away from Clark International Airport.
While the project masterplan is still being developed, Megaworld is bent on replicating its pioneering LIVE-WORK-PLAY concept of a township to this development.
“Just like our other townships, we will integrate residential, office, commercial, retail and
institutional components in this development. As we see a potential pool of skilled talents for the BPO sector in the province, we are certain to build a cyberpark, bring in our partner locators to the township and generate thousands of jobs for the people of Pampanga,” explains Go. – BusinessNewsAsia.com