Page 3Asian Journal - (619) 474-0588 Visit our website at http://www.asianjournalusa.comJuly 16 - 22, 2010

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I am going to fi ll this place with streets and fi ll the streets with people -- Andrew Tan about Eastwood City, circa 1980s

Megaword Managing Di-rector Marivic Acosta recalls the declaration clearly in her mind and her impression of what was not there. Her boss Andrew Tan was talking to his staff at Megaworld and giving them a tour of land overgrown with tropical vegetation.

They were standing in the middle of nowhere in a spot called Libis, the local word for a place that roughly means “on the edge of town”.

It was the 1980s, just when Eastwood was simply an idea in the mind of the man now known as the fi fth rich-est man in the Philippines. The area he was talking about building a dream community where one could live, work and play had a reputation that was as bad as his was good. It was an unusual choice for the beginnings of a posh ad-dress that would be a fl agship community. Libis then was notorious for crimes that the tall talahib grass hid from public view. But Andrew Tan understood the power of an idea and the possibilities that

Megaworld Shines Spotlight on Land

of Possibilities

once upon a time he could only imagine from his own humble beginnings. Defying the odds in a land where the winds of opportunity seem to often blow offshore, Tan is the exception. He migrated to the Philippines. Before he became a “taipan” he started out poor working as a street vendor at a young age when his family moved to the Philippines from Taiwan.

Today Andrew Tan has given the place the same luster as his name. Eastwood City has become a desirable site teem-ing with business processing outsourcing (BPO) enterprises for a roster of multinational clients with names such as Dell, HP, IBM, Canon, BPI, and Citibank. The streets are fi lled with about 20,000 locals employed in what is now known as the fi rst IT Park in the Philippines. Megaworld, under the leadership of An-drew Tan, has also become the country’s number one landlord for the BPO sector according to Acosta.

The builder is on an ambi-tious project of transforming the streets within a 20-km radius of the Makati central business district with in-fi ll projects such as Eastwood City in Libis, Forbes Town (Continued on page 4)

Center fronting Manila Golf & Country Club in Forbes, Makati, McKinley Hills in Global City Taguig, and New-port City in Pasay near the new NAIA airport.

“Megaworld has about 33

projects nationwide,” Acosta explained during the Mega-world International Launch in San Diego on Saturday after-noon, July 12th, “but it would take me probably two days to show you the slides for each

one.” Within the strategic 20-km

radius of Makati, Megaworld has several projects have that appreciated during the pre-construction phase based on the live, work and play com-munity concept.

“The BPO component con-tributed to property apprecia-tion,” the Megaworld execu-tive observed. Employment opportunities which draw in rental business for Eastwood City condo owners provide income on top of pride of ownership. She explained that in many cases, property own-ers who bought in Eastwood have seen their properties appreciate anywhere from 70 percent to a hundredfold.

Rentals are a haven for investors. Landlords in the Philippines enjoy an income stream that is delivered semi-annually collecting rent six months in advance. The

company that built the condo-miniums also provide profes-sional property management, resale and leasing services to unit owners.

The attraction for both residents and renters is con-venience. “Megaworld is a developer of live work and play communities -- if you are living overseas, traffi c is not a problem. You can enjoy all amenities within the development and enjoy the comfort and convenience of having everything within your reach,” Acosta explains as she dispels fears of entanglement in Metro Manila’s notorious traffi c snarls.

Acosta credits Andrew Tan’s ability to expand land hold-ings in urban areas by forging venture partnerships with land owners of idle land. One such partnership is with Senator Jinggoy Ejercito Estrada who

Eastwood City, Libis is BPO Central

Megaworld Managing Director Marivic Acosta and Southern California Regional Manager Julius Obregon

San Diego North County Team led by Marketing Manager Ralph Lacerna

San Diego South County Megaworld International Team under Roz Fortin, Marketing Manager, with several agents

Eastwood City Mall at night is an entertainment hotspot

Guests view Megaworld presentation in National City

Page 4 July 16 - 22, 2010Asian Journal - (619) 474-0588 Visit our website at http://www.asianjournalusa.com

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*Juris Doctor law degree, University of San Diego (1985),Diploma; Oxford Institute on International and Comparative Law (USD), Oxford, England (1984);Bachelor Degree, University of Southern California (1983);Montgomery High School, San Diego (1979)

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Bill’s Corner

Read Bill Labestre’s previous articles by visiting our website at www.asianjournalusa.com

by Bill Labestre, MBA

Lately, we have earth-quakes more frequently and the center is getting closer to San Diego. Those of us who lived here for many years, we expected these and very much aware of the “Big One” that is supposed to happen in the next 30 years. The recent shakes and after shocks may have touched some nerves but, we love San Diego so much, we are here to stay.

In recent years, we have more serious wildfires than earthquakes here in San Diego. Like the majority, we think that bad things can only happen to other people and not us. What if the “Big One” happens tomorrow, are you ready? How many of us take the time to prepare for such a catastrophic event? How many families perform regular emer-gency drills or have emergen-cy kits stored nearby?

We surely love our weath-er in San Diego and even bragged about it sometimes. For most Filipinos, there’s no other place like it here in the USA. Normally, we have short winter seasons and it seldom get too cold. Even if you reside in the inland val-leys, summer is not that hot. If you live along the coast, then there’s nothing to complain about.

We spent quite a bit of our income to pay premiums on our car, health, life and home owners insurance. We don’t really care about the flood insurance since it seldom rain

Shake, Rock and Rollhard in San Diego. We should know that we are prone to major earthquakes but, not too many of us bought earthquake insurance for our homes or rental properties. If a serious one happens, how would you rebuild your properties?

During the 2007 wild-fires, I have experienced evacuation from my home to a safer area. Even though my son and I have plenty of time to gather and load important personal items to our vehicles, it was not an easy task. What happens if you only have seconds or minutes to decide? What would you take as you flee your house or office?

After that close encoun-ter, I promised myself to take digital photos of valuable items from the house and my office then store them safely for insurance purposes. I still need to scan photos from old family albums and store them online. At least I always review and update my hom-eowner’s insurance before renewal every year.

Many of us don’t know what to do if a serious ca-lamity happens to us or our precious assets. Saving lives would be our top priority but, what would you do after? What if your home is totally ruined and there’s no access to banks or grocery stores? You should have safely stored enough drinking water and food to last your family a few days or until help arrives. Every member of your family

should know of the meeting place during the evacuation time. Don’t forget that earth-quakes can happen at night too and the electrical power maybe out.

Take it from my 86 year old mother in law. She keeps a small overnight bag packed with her medications, a bottle of water, important papers, a sweater, pair of glasses and a flashlight by her bedroom door. So now, she is always ready to head for the near-est exit every time the earth started to shake, rock and roll.

Megaworld Shines...

(Continued from page 3)

owns the land underneath Greenhills Heights commu-nity on Pinaglabanan Road in San Juan, Manila. As a part-ner, the landowner collects on

the investment when the units are built and sold. The wait for the construction of units can be anywhere from four to five years.

The real estate boom in the Philippines has attracted foreign interest. Two towers in the McKinley Hills devel-opment in Fort Bonifacio, Taguig, which replicates the BPO concept of Eastwood

City, have been bought out by Korean investors. The high-rise towers sport Italian names such as Bellagio and Tuscany, outdoing the Las Vegas Vene-tian version by adding a knock off St. Markos (the evangelist not the president) tower and a Bridge of Sighs replica over a man-made canal that would be wide enough for gondolas.

The attraction has proven to be more than skin deep. The theme adds to property values if money is an indicator. A unit in Bellagio which sold for PHP 4,734,576 in July 23, 2004 sold in 2009 for PHP 6,167,100.

But one would have to take a Megaworld-run CityBus shut-tle to Newport City in Pasay City, another live, work and play Megaworld development to roll the dice at Resort World in Newport City. The bus links Newport City, Eastwood City and McKinley Hills. With des-tinations like Club Filipino and Resort World, the Pasay City area is slowly becoming the al-ternative to a long plane ride to Macao in China for gambling.

In addition to Resort World, the 25-hectare Newport City in Pasay features a Marriott Hotel and a new attraction, the uber exclusive Maxim, a six-star hotel, for Asia’s rising upper class.

The concept has thrown locals in a buying frenzy. According to Acosta, “Newport City con-do owners have seen a 76 per-

cent price appreciation. When we launched Newport City, locals snapped up the units on opening day for a record one billion pesos in sales.”

She assures investors that the development is not in the flight path even though it is conve-niently located near the new international airport.

“Rental income is estimated at PHP 25,000 per month for Newport City condo landlords. A 1BR units which sold for a prelaunch price in March 20, 2006 PHP1.856M has appre-ciated to PHP3.259 April 1, 2009,” reports Acosta. The builder’s reputation is but-tressed by an ISO2001 certifi-cation, an international distinc-tion of quality for a property developer granted in 1999.

The buzz all boils down to one simple fact: Megaworld is a superbrand.

What was once the exclusive enclave of multinational firms from the West has found new company in the brands of the rising stars of the Asia.

The statement is almost as

surreal as the streets in Libis that Andrew Tan once imag-ined one hot afternoon two decades ago. But the changes that have transformed the sky-line of Metro Manila greet the balikbayans before the plane even lands.

Even in the air, one is left with a lasting impression that change has finally come judg-

McKinley Hills in Global City, a Megaworld community

ing from the new skyline. The airwaves also carry the sense of hope in a new government that vows to break away from the old ways.

But at the San Diego event the friendly marketing execu-tive is all about putting the needs of the customer first, some of whom have never seen the properties first-hand. “I want to give you information before you go to the Philip-pines. I would like the acquisi-tion of properties to be conve-nient and easy for you.“ She adds, “Megaworld is true to its commitment. It has completed over 200 buildings and deliv-ered 10,000 houses. Alliance Global, Megaworld’s mother company, is the recipient of the most admired enterprise award given by ASEAN for business and investments...”

Acosta enumerates a list of long achievements that make the overhead presentation im-possible to read.

However, no one is complain-ing. It is the good news every-one wants to hear about after working overseas for most of their life.

Home is beginning to look like the places they have seen on their journeys to emerg-ing economies abroad. And Andrew Tan is ready to greet them with the opportunity he once saw one hot afternoon in the middle of nowhere when everyone else was looking elsewhere for a fresh start. -- Asian Journal | Gen Silverio gensilverio@gmail.com.

Andrew Tan