By Jenniffer B. Austria | Feb. 09, 2015 at 11:20pm [ manilastandardtoday.com ]
Property developer Megaworld Corp. on Monday unveiled a plan to launch five new townships with a total land area of 400 hectares this year.
Megaworld said in a disclosure to the stock exchange subsidiaries Suntrust Properties Inc., Empire East Land Holdings Inc. and Global-Estate Resorts Inc. were set to launch this year two townships in Luzon, two in the Visayas and one in Mindanao.
Megaworld townships combine residential, office, commercial and retail components to form mixed-use communities.
This will bring Megaworld’s total township land area to 3,100 hectares by year-end, it said. Megaworld currently has 15 townships with a combined land area of 2,700 hectares.
“With our adequate land bank and landholdings, the Megaworld Group is growing its townships to even more cities all over the Philippines,” Megaworld chairman and chief executive Andrew Tan said. “This means, more exciting destinations, more homes to be built, more office buildings to be offered and more jobs for Filipinos. Our vision is to build more world-class townships in every major city in the Philippines year after year,”
The new developments will bring the company’s township portfolio from 15 to 20 by the end of the year.
Megaworld also unveiled five townships in 2014 covering almost 1,000 hectares of land.
These include Woodside City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Pinas City (62 hectares) and Suntrust Ecotown in Tanza, Cavite (350 hectares).
“We still have more lands to develop in our portfolio. Our various groups are working hard to come up with unique concepts and ideas on how we will create more sustainable communities across the country,” Tan said.
Other Megaworld townships include Eastwood City in Quezon City (18.5 hectares), which holds the distinction of being the country’s first cyberpark; Newport City in Pasay City (25 hectares), which is the home of Resorts World Manila; McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town Center (5 hectares), all in Fort Bonifacio.
Megaworld also developed the Mactan Newtown in Cebu (28.8 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Boracay Newcoast in Boracay Island (150 hectares) and Twin Lakes in Tagaytay (1,300 hectares).
Megaworld Group has around 4,000 hectares of land in its portfolio.
It said around 80 percent were dedicated for live-work-play townships or mixed-use communities, a concept Megaworld pioneered in the 1990s.