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Megaworld to develop P10-B project

By Neil Jerome C. Morales (The Philippine Star) | Updated February 27, 2014 - 12:00am

MANILA, Philippines - The Megaworld Group of property tycoon Andrew L. Tan is set to develop a 561-hectare integrated community south of Metro Manila estimated to cost P10 billion.

Southwoods City, located in parts of Cavite and Laguna, will be the largest fully-integrated township development of Global-Estate Resorts Inc. (GERI), company officials said yesterday.

“The development is positioned to be the next residential, business, commercial and leisure hub that is closest and most accessible to Metro Manila,” GERI said.

“We are bringing the expertise of Megaworld Corp. to this new township in the south. We look forward to a vibrant mixed-use community that incorporates the live-work-play-learn lifestyle concept in this multi-billion peso development,” said Megaworld first vice-president Jericho Go.

Megaworld will take charge of the design, conceptualization and masterplanning of Southwoods City. It will also manage the office towers and commercial components of the township.

Of the 561-hectare property, 376 hectares were allotted for the residential segment, including the 26-hectare residential village Pahara which consists of 602 available lots ranging from 239 to 523 square meters with views of the golf course and Laguna de Bay.

“Southwoods City will also feature a central business district, commercial and retail hubs, malls, residential condominiums, schools, a church, a cyberpark, a medical facility, open parks, leisure facilities, a weekend market and its own transport hub,” said Mary Rachelle I. Peñaflorida, vice-president of marketing arm Megaworld Global-Estate Inc.

The 125-hectare portion of the township will be occupied by the Jack Nicklaus-designed Southwoods City Golf and Country Club while the remaining 60 hectares were set aside for the Southwoods Business Park.

Two office buildings offering 20,000 sqm of space for business process outsourcing (BPO) firms are already in the advanced planning stages, Go said.

“We expect that once these buildings are completed in two years, we should have an opportunity to hire 10,000-12,000 employees,” Go said, adding that the Carmona, Cavite and Biñan, Laguna area is a good source of BPO workers.

GERI is the company behind tourism estates such as the 150-hectare Boracay Newcoast in Boracay Island; the 1,149-hectare rolling terrains of Twin Lakes in Tagaytay; and the 170-hectare Sta. Barbara Heights in Iloilo City.

For its part, Megaworld is one of the country’s top residential condominium developer and pioneer of townships Eastwood City in Quezon City; Newport City in Pasay City; and McKinley Hill, Uptown Bonifacio and Forbes Town Center in Bonifacio Global City. It is also the top office landlord and developer in the Philippines with around 712,000 sqm of office space inventory.

GERI and Megaworld are part of Tan’s Alliance Global Group Inc., which is also into liquor (Emperador Inc.) fastfood (McDonald’s franchise operator Golden Arches Development Corp.) and hotels and casino (Travellers International Hotel Group Inc.).

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