Building for a stronger future: Andrew Tan sets P150B two-year expansion
Alliance Global Group Inc. plans to spend P150 billion through 2017 to support an aggressive expansion program.
“We continue to be optimistic about what lies ahead. That is why we have kept an aggressive capex plan moving forward. In 2010 to 2015, we spent an aggregate of P270 billion for our expansion projects. We will spend more than half of that amount for 2016 and 2017 alone, proving our positive outlook for our business,” said AGI president Kingson U. Sian.
Property arm Megaworld Corp. continues to expand its office and commercial properties nationwide to keep itself at the crest of the wave of growth cities across the country.
Tourism and gaming unit Travellers International Hotel Group aims to increase its hotel room capacity to 12,000 keys by 2020 from about 3,000 rooms now.
The group, through GERI, is undertaking two major tourism estate development projects in highly popular destinations: Boracay Newcoast in Boracay Island, Aklan; and Twin Lakes in Metro Tagaytay.
Its quick service restaurant business through Golden Arches Development Corp. is aggressively expanding its presence to boost its store network to 900 in the near term. It expects to end the year with a total of 500 stores.
“Our continued investments have given our group a competitive edge that is difficult to match. With all the pieces already in place, we believe that we have set the stage for a strong long-term growth,” Sian said.