The planned capital expenditure budget will be kept steady this year, according to Andrew L. Tan. With P55 billion set, at least 75% will be allocated for the development of malls, office towers, commercial centers, and residential buildings. The remaining 25% will be for both investment properties and land acquisition.
The budget is the same as the amount spent last year. The group earmarked P65 billion last year, but P10 billion was not used to acquire more land. According to Jericho P. Go, Megaworld Senior Vice-President, the group is set to begin development on new townships in Pampanga, Pasig City, and Bacolod.
