Megaworld banks on digitalization for growth

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    Megaworld Corp. is banking on the advantage of a digitalized initiative to drive its growth amid the challenges of a new normal caused by the coronavirus pandemic.

    Kevin Tan, Megaworld chief strategy officer, said the company will further accelerate its digitalization programs and technology investments across all its businesses “to align with the changes in the behaviors and lifestyles of different types of customers even post-pandemic.”

    Through Megaworld’s technology investment arm, Agile Digital Ventures, the company will “further expand its digital footprint to support its various key businesses, and to start up digital innovation products to support the country’s economic segments such as retailers, and small and micro enterprises,” said Tan.

    “Internally, the company will continue to fast track the shift to full digitalization of its business processes, particularly in sales and marketing, customer services, property and building management, and finance,” he added.

    This, coupled with Megaworld’s push to ensure “a consistently strong balance sheet, strengthening of land banking initiatives through strategic acquisitions and partnerships, completing and delivering committed projects on-time, reinforcing a stable recurring income stream, and expanding the township concept by adding sustainable and crisis-resilient features,” will give the company an advantage over the hurdles caused by the pandemic, according to Tan.

    Speaking at Megaworld’s annual shareholders meeting Monday, Tan said:

    “Our office rental business, which grew 10 percent in the first semester, helped cushion the impact of this crisis to our bottomline,” he added.

    Tan said amid the lockdowns when real estate selling was very limited, Megaworld was still able to post reservation sales of P38 billion for its residential projects.

    Andrew Tan, Megaworld chairman, said Megaworld is ready to bounce back as it “adjusts to the new demands of the diverse market.”

    “Our strong financial standing puts us in an exceptionally good position to weather the crisis and take advantage of the opportunities that will arise once recovery begins. The crisis also served to highlight the value of our offerings,” he said.

    “As we navigate this new reality, we will adjust to the new demands of our diverse market.

    We will accelerate the implementation of our innovation and digital transformation strategies across all our businesses to align with the current challenges. We will also continue to implement enhanced safety measures in our developments, particularly our malls and office spaces, to ensure that our guests and tenants are safe and protected.

    Through all these, we will always ensure that the communities we build will contribute to the creation of a safe, secure, and sustainable tomorrow for everyone,” he added.