Megaworld signs deal with Cimpress

December 19, 2016

MEGAWORLD Corp. has signed a partnership agreement with the local unit of Cimpress N.V. for the expansion of the latter’s operations within the 34.5-hectare McKinley West township in Taguig City.

In a statement issued over the weekend, the listed property developer said it signed the agreement for Cimpress Philippines to initially occupy about a third of 10 West Campus once the 10-storey office tower gets completed.
“This will help expand the house customer service and design support teams dedicated to the growing customer base of one of Cimpress’s largest brands, Vistaprint, a leading online provider of professional marketing products and services to micro business owners,” Megaworld noted.

Cimpress Philippines primarily houses the customer-service and design-support teams of the Netherlands-based provider of mass customization services.

The local operations of Cimpress are expected to generate around 1,700 jobs over the next five years. At present, the company occupies a “turn-key space” provided by Megaworld at the Science Hub Tower 2 in McKinley Hill, one of the integrated urban townships of Megaworld in Fort Bonifacio.

The property business of tycoon Andrew L. Tan occupies the biggest footprint in Fort Bonifacio through its four integrated urban townships covering over 105 hectares of land.

Megaworld is expanding its nationwide retail and office portfolio to about 1.2 million square meters (sq.m.) of leasable space, of which 851,000 sq.m. are dedicated for offices and 341,000 sq.m. for retail businesses.

The company is mainly expanding its office and retail portfolio within its mixed-use developments called townships. To date, the company has launched nine of such projects within the National Capital Region and 12 in provinces.

In the first nine months, Megaworld registered an 11% year-on-year rise in net income to P9.27 billion from P8.35 billion, following a 5% increase in revenues to P35.26 billion from P33.53 billion. — Keith Richard D. Mariano, Business World Online

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