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Megaworld to develop P10-b Beverly Hills-inspired township

By Jenniffer B. Austria | Oct. 27, 2014 at 11:01pm [ manilastandardtoday.com ]

Real estate developer Megaworld Corp. said it will spend P10 billion over the next five years to develop a 62-hectare Beverly Hills-inspired township in Las PiƱas City.

Megaworld senior vice president Jericho Go said the posh residential development called Alabang West would be complemented by a 1.3-kilometer commercial strip patterned after the Rodeo Drive, a high-end shopping district in Beverly Hills, California.

“Soon to rise will be a themed township that highlights the best of
Hollywood
, specifically Beverly Hills. We envision this development to be the next big thing in Alabang,” Go said.

Rachelle Penaflorida, vice president for sales and marketing of Megaworld Global-Estate Inc., said Alabang West would offer 788 residential lots, with sizes ranging from 250 square meters to 800 square meters.

Lots, with an initial price of P48,000 per square meter, will be sold at P12 million to P38.4 million.

“Alabang West Village will be a posh neighborhood that is distinctly ‘Alabang’ inspired by the glitz and glamour of Hollywood’s Beverly Hills. This is a perfect haven to those seeking the cosmopolitan vibe away from hustle and bustle of Metro Manila,” Penaflorida said.

The property company said it expected lot prices at Alabang West to further go up in the next couple of months, similar to other township developments.

It said McKinley Hill project, which started selling lots at P50,000 in 2005, was now selling at P120,000 per square meter while the McKinley West project which started selling lots at P75,000 per square meter in 2011, was now selling them at P160,000 per square meter.

Selling price at the recently launched Southwoods City project in Alabang is now at P19,600 per square meter, from an initial price of P14,000 per square meter.
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