Megaworld Rewards Carlos Yulo with Upgraded P35M Package for Olympic Gold

Megaworld Corp., a listed property developer, has announced an upgrade to its reward for Filipino gymnast Carlos Yulo after he clinched his second gold medal at the 2024 Paris Olympics.

In a statement, Megaworld revealed that Yulo will receive a three-bedroom unit in one of its premier residential properties within McKinley Hill, Taguig City. Initially, the company pledged a P24-million two-bedroom condominium unit to Filipino gold medalists.

This enhanced reward follows Yulo’s impressive performance, where he scored 15.166 points in the vault event, with individual scores of 15.433 and 14.800 on his two attempts. This victory marks the Philippines’ third gold medal in the current Olympics.

Additionally, Megaworld will grant Yulo a P3-million cash bonus for being the first Filipino athlete to secure two Olympic gold medals.

“Given the historical significance of achieving two Olympic gold medals during our country’s 100th year of participation in the Olympics, which coincides with our company’s 35th anniversary, we are increasing our reward for Carlos Yulo to a total of P35 million,” stated Megaworld President Lourdes Gutierrez-Alfonso.

Company and Athlete Achievements

Megaworld reported a 10% increase in its first-quarter net income, reaching P5.0 billion, while its attributable net income rose 8% to P4.4 billion. Consolidated revenues also grew by 16%, nearly reaching P19 billion.

The company boasts 33 master-planned integrated urban townships, lifestyle communities, and estates across the Philippines, with plans to expand to 35 townships by the end of the year. Recently, Megaworld announced the development of the P12-billion, 25-hectare San Benito Private Estate, which will connect to The Farm at San Benito.

Carlos Yulo, in addition to Megaworld’s rewards, will receive several incentives from the government in recognition of his Olympic achievements.