By: Manila Bulletin
Township developer Megaworld Corporation is allocating P36 billion for capital expenditures (capex) this year, 29 percent higher than the P27.9 billion it actually spent in 2021.
In a disclosure to the Philippine Stock Exchange, the firm said it is realigning project developments with the restrictions brought about by the strict quarantine measures that affect construction movements as well as demand for residential properties especially in Metro Manila.
Around 76 percent of this year’s capex will be allocated for real estate developments, particularly the
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