Megaworld Corporation (“Megaworld,” “the Company,” “MEG”) was founded by Dr. Andrew Tan and incorporated under Philippine law on August 24, 1989, to engage in the development, leasing, and marketing of real estate. The Company initially established a reputation for building high-end residential condominiums and commercial properties in convenient urban locations with easy access to offices, leisure, and entertainment amenities in Metro Manila. Beginning in 1996, in response to the demand for lifestyle convenience of having quality residences close to office and leisure facilities, the Company started to focus on developing mixed-use communities, primarily for the middle-income market, by commencing its Eastwood City community township development. In addition, the Company engages in other property related activities such as project design, construction oversight, and property management. On August 19, 1999, Megaworld changed its corporate name to the present one to coincide with its conversion from a purely real estate company into a holding company. However, the Company continues to focus its core competence on real estate development.