By Richmond S. Mercurio (The
Philippine Star) | Updated September 17, 2014 - 12:00am
MANILA, Philippines – Leading property
developer Megaworld Corp. is investing P5 billion over the next eight years for
its maiden venture into industrial park development. Through wholly-owned
subsidiary Suntrust Properties Inc., Megaworld announced yesterday its
initial entry into industrial park development with a 200-hectare project in Tanza, Cavite to be called
Suntrust Ecotown.
Jericho P. Go, Megaworld senior vice
president, said the project is seen to become the major hub for world-class
light to medium export-oriented industries, residential, commercial and
institutional establishments in the south.
“Megaworld’s entry into industrial
park development leads us to an innovative blueprint that will entice more
foreign locators to invest in the Philippines. Suntrust Ecotown is design to
respond to the needs of dynamic export-oriented industries and to Megaworld
goes… From B-1 exceed their expectations by offering lifestyle amenities never
seen before in any industrial park,” he said.
Suntrust Properties president
Harrisson M. Paltongan said 111 hectares will be allotted for the industrial
park, while some 50 hectares is being allocated for future development that may
include residential and other recreational facilities.
He said another 40 hectares is
reserved for the expansion of the industrial park and the integration of
lifestyle amenities such as a hotel, commercial and retail hubs, driving range,
mini golf course, putting greens, swimming pool, jogging path, basketball and badminton courts, and open parks.
“Suntrust Ecotown is a breakthrough
industrial park because this is the country’s first integrated industrial park
accredited by PEZA (Philippine Economic Zone Authority) with lifestyle
amenities. “We expect to generate around 500,000 (direct and indirect)
employment within eight years in the industrial park. We look forward to
hundreds of companies to locate in Suntrust Ecotown and the job generation it
will bring to Filipinos,” Paltongan said.
Paltongan said Suntrust is already
looking into further expanding the development to 350 hectares in the near
future.
“We purchased this land last year.
These are idle lands that are undeveloped and weare turning it as Megaworld’s
first mixed-use development with an industrial park in the country,” Paltongan
said.
Go said about 24 percent of 107
available industrial lots being offered initially are already sold.
Suntrust expects at least 100
companies to settle into its industrial park.
“There’s a room for growth within the
Suntrust Ecotown because we have more areas allotted for future expansion that
can accommodate more locators and will allow us to put residential areas, new
commercial establishments, and other fresh inspirations of our pioneering live,
work, and play township lifestyle concept,” Go said.
Suntrust officials said the project
positions itself as a new alternative industrial park for multinational
locators given its close proximity to major airports and seaports as well as
business districts such as Makati CBD, Ortigas Center, Fort Bonifacio, the
Ninoy Aquino International Airport, Manila Port and Batangas Port as well as it
accessibility to main thoroughfares such as SLEX (South Luzon Expressway) and
Cavite Expressway (Cavitex).
Suntrust in the past has been involved
in building affordable vertical and horizontal residences in Cavite, Laguna,
Batangas, Manila, Pasig, Quezon City, Mandaluyong, Baguio and Davao.
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