Megaworld Corporation: Concerns over Construction Defects, Unjust Terms, and Customer Service Issues

Introduction

Discover the issues surrounding Megaworld Corporation, a prominent real estate company in the Philippines. Multiple sources reveal construction defects and unjust terms related to the company's properties. Customers have expressed dissatisfaction with the poor customer service provided by Megaworld, prompting negative reviews and warnings to potential investors. Additionally, the company faced a significant setback when public shareholders lost P111 million due to a fiasco with the Bureau of Internal Revenue (BIR). Despite a temporary closure order against Megaworld, the company has promised cooperation with the BIR. Stay informed about the controversies surrounding Megaworld Corporation and make an informed decision before engaging in any investment activities with the company.

Hundreds of property owners have filed complaints against Megaworld and Empire East Properties, alleging construction defects, unjust terms, and long delays in turnover of units.

The complaints, which have been filed with the Department of Trade and Industry (DTI), the Housing and Land Use Regulatory Board (HLURB), and the Department of Justice (DOJ), allege that Megaworld and Empire East have failed to meet their contractual obligations to property owners.

Specifically, the complaints allege that Megaworld and Empire East have:

1. Built properties with shoddy construction, resulting in leaks, cracks, and other defects.
2. Failed to turn over units on time, in some cases delaying turnover for years.
3. Imposed unfair and unjust terms on property owners, such as requiring them to pay for additional fees and charges.

The complaints have also raised concerns about the financial stability of Megaworld and Empire East. In March 2022, the Bureau of Internal Revenue (BIR) issued a closure order against Megaworld for failing to pay P111 million in taxes. The order was later lifted after Megaworld paid the taxes.

The complaints against Megaworld and Empire East are a major setback for the two property developers. Megaworld is one of the largest real estate companies in the Philippines, while Empire East is a major player in the mid-market segment.

The complaints could damage the reputation of Megaworld and Empire East and make it more difficult for them to attract new investors and buyers.

If you are considering buying a property from Megaworld or Empire East, it is important to be aware of the allegations of construction defects, unjust terms, and long delays in turnover. You should also research the financial stability of the two companies before making a decision.