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Megaworld sets P25-B Napolcom plan

    Published : Tuesday, July 26, 2011 00:00

MEGAWORLD Corp. intends to turn the National Police Commission property in Fort Bonifacio into a world-class business process outsourcing complex.
In a statement, the real estate company said it would invest P25 billion to develop the 7.1-hectare lot over the next seven to 10 years.

It will spend P7 billion for the first phase of the project, which aims to host more than half a million square meters of BPO space and generate 80,000 jobs.

The property firm’s commitment to Napolcom includes the construction of a new 30-storey office building in Quezon City and the delivery of 500 residential condominium units in a project in San Juan City. The office building and residential condominium package is valued at more than P3 billion.

The project is a joint venture between Megaworld and state-run Bases Conversion Development Authority.

In 2008, Megaworld won a public bidding for the right to develop the property after submitting a P3 billion offer.

Megaworld shares added P0.03 to close at P2.13 each on Monday.

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