Megaworld reward for Carlos Yulo upgraded to P35M worth

Listed property developer Megaworld Corp. on Monday announced an upgrade to its reward for Filipino gymnast Carlos Yulo after he won his second gold medal in this year’s Olympics in Paris.

In a statement, Megaworld said it will reward Yulo with a three-bedroom unit in one of its premier residential properties inside McKinley Hill in Taguig City. The company earlier said it will reward Filipino gold medalists with a P24-million two-bedroom residential condominium unit.

The development comes after Yulo secured his second gold after scoring 15.166 points in the vault — 15.433 on his first vault, and 14.800 in the second. This is the country’s third gold medal to date in the Olympics.

Megaworld said it will also give a P3-million cash bonus to Yulo for being the first Filipino athlete to bag two gold medals from the Olympics.

“Since this is a very significant milestone in the history of Philippine sports to have two gold Olympic medals during our 100th year participation as a country in the Olympics, which also coincides with our company’s 35th anniversary this year, we are boosting our reward for Carlos Yulo now totaling to P35 million,” Megaworld president Lourdes Gutierrez-Alfonso said.

“He truly deserves this and we will always be proud of him for taking Filipino excellence to the next level,” she added.

The company reported a 10% growth in its net income for the first quarter to P5.0 billion, while its attributable net income climbed 8% to P4.4 billion. Consolidated revenues grew by 16% to nearly P19 billion.

Megaworld currently has 33 master planned integrated urban townships, integrated lifestyle communities, and lifestyle estates across the country. It aims to close the year with 35 townships in line with its 35th anniversary.

The company on Monday announced the development of a P12-billion 25-hectare integrated township San Benito Private Estate, which will be connected to The Farm at San Benito.

Aside from the reward from Megaworld, Yulo will also be receiving several incentives from the government. —AOL/KG/RSJ, GMA Integrated News