Megaworld corporation (meg) is engaged in property development. Incorporated in 1989, meg's business is mainly residential property development. The company also conducts businesses such as hotel, resort and leisure development. Its main project is the eastwood cyberpark, an it park classified as a special economic zone by the philippine economic zone authority. In relation to the park, meg has a wholly owned subsidiary, eastwood cyber one corp. Meg also wholly owns megaworld land, inc. Which markets the eastwood cyberpark to prospective locators and is in charge of leasing and selling commercial spaces. The company also wholly owns prestige hotels & resorts, inc. , a hotel and leisure company that operates the five-star richmonde hotel in ortigas center.. The company's current property projects consists of mixed-use residential and commercial developments located throughout metro manila.