Megaworld enters digital technology business

Property developer Megaworld Corp. has formed a new wholly-owned subsidiary which will invest in food, retail and hospitality startups.

The new company AGILE Digital Ventures has allotted $5 million to build its first start-up project in the next three years.

AGILE, which will serve as Megaworld’s digital investment arm, is aimed at taking advantage of opportunities brought about by changes in consumer behaviors and lifestyles in this digital age.

The first start-up investment, PICK.A.ROO, is an all-in-one, on-demand premium lifestyle delivery app. Customers can purchase products ranging from food, gadgets, hardware, kitchenware, children’s toys and stuff, pet care, personal care, medicines, office and school supplies, hotel dishes, liquor, to COVID-19 essentials from over 300 local and international merchants.

“Our main goal is to help retailers smoothly migrate to the digital platform especially during this challenging time. Since 2018, we have been looking for investment opportunities on an app that will enable our retail partners sell and deliver their products online and on-demand. We have talked to several potential partners, but eventually, we decided to build our own,” said Kevin L. Tan, chief strategy officer of Megaworld and president of AGILE.

Aside from PICK.A.ROO, the company is also looking for other investment opportunities in digital technology platforms that will further boost Megaworld’s core businesses.

Megaworld currently has 26 townships and mixed-use communities across the country, comprising over 700 residential developments, over 60 office towers, 20 lifestyle malls, and 11 hotels.

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