Megaworld creates unit for digital technology investments

Andrew Tan-led property giant Megaworld is creating a wholly-owned subsidiary that will spearhead the company’s investments and ventures into digital innovations and technology as it takes advantage of opportunities brought about by changes in consumer behaviors and lifestyles in this digital age.

AGILE Digital Ventures is Megaworld’s digital investment arm that will engage in investing and building technology start-ups that hopes to support the country’s food, retail, and hospitality industries during these challenging times.

The company has initially allocated a three-year CAPEX of $5 million (approximately P250 million) to build its first start-up project for three years.

All-in-one app

This first start-up investment is called PICK.A.ROO, an all-in-one, on-demand premium lifestyle delivery app, which is set for public rollout in August.

Through the app, customers can purchase products ranging from food, gadgets, hardware, kitchenware, children’s toys and stuff, pet care, personal care, medicines, office and school supplies, hotel dishes, liquor, to COVID-19 essentials, from over 300 local and international merchants. Orders may either be delivered on-demand, or on a later schedule.

Customers may choose for regular delivery, drive-through, or takeaway pick-up for their orders.

PICK.A.ROO riders and shoppers undergo strict safety and sanitation protocols which include rapid testing, thermal scanner checks, thorough disinfection of delivery bags, including the provision of clinical-grade face shields and masks.

“Our main goal is to help retailers smoothly migrate to the digital platform especially during this challenging time. Since 2018, we have been looking for investment opportunities on an app that will enable our retail partners sell and deliver their products online and on-demand. We have talked to several potential partners, but eventually, we decided to build our own,” said Kevin L. Tan, chief strategy officer of Megaworld, who concurrently holds the position of President of AGILE Digital Ventures, Inc.

Digital transformation

Tan, who leads Megaworld’s corporate strategies, has been on the forefront of the company’s digital transformation since 2018.

“We started from scratch to build our first start-up brand. Aside from the technology itself, we put focus on operations which will be integral to the success of every brand that we create,” said Tan.

Aside from PICK.A.ROO, the company is also looking for other investment opportunities in digital technology platforms that will further boost Megaworld’s core businesses.

Megaworld currently has 26 townships and mixed-use communities around the Philippines, composed for over 700 residential developments, over 60 office towers, 20 lifestyle malls, and 11 hotels.