By Jenniffer B. Austria | Sep. 07,
2015 at 11:20pm [ manilastandardtoday.com]
Megaworld Corp., the property unit of
billionaire Andrew Tan, said it will spend P30 billion to develop its latest
mixed-use development, a 35.6-hectare prime land beside the provincial capitol
of San Fernando, Pampanga.
Megaworld said in a disclosure to the
stock exchange it would spend the amount over the next 10 years.
“As part of our aggressive township
expansion across the country, we are happy to announce our entry into Pampanga.
This is the perfect time and opportunity to be present in this progressive
province, where else but right at the heart of the provincial capital which is
a prime location for an urban township development,” Megaworld senior vice
president Jericho Go said.
The first mixed-use development of
Megaworld in Central Luzon, the project will adopt the live-work-play concept
that the property company has been doing in the past few years.
“Just like our other townships, we
will integrate residential, office, commercial, retail and institutional
components in this development. As we see a potential pool of skilled talents
for the BPO sector in the province, we are certain to build a cyberpark, bring
in our partner locators to the township and generate thousands of jobs for the
people of Pampanga,” said Go.
“This new township is also envisioned
to expand and revitalize the Pampanga’s provincial capitol district,” he added.
The property is approximately 70
kilometers away from Manila and closely accessible via the North Luzon
Expressway through the San Fernando exit and the Jose Abad Santos Avenue, also
known as the Olongapo-Gapan Road. It is about 20 kilometers away from Clark
International Airport.
The project is Megaworld’s 19th
township development and the fourth to be launched this year. One more township
is expected to be launched before the end of the year.
Earlier this year, the company
launched two townships in Negros Occidental, namely Northill Gateway (50
hectares) and The Upper East (34 hectares); and another in Sta. Barbara, Iloilo
called Santa Barbara Heights (170 hectares).
The new townships will add close to
400 hectares, bringing the total township land area of the Megaworld Group to
around 3,100 hectares by the end of the year.
Several property firms have also
launched projects in Pampanga to take advantage of the rapid progress of
Central Luzon region in terms of major businesses and investments.
Ayala Land Inc. recently started
developing a 1,100-hectare integrated township in Porac, Pampanga, while
Century Properties Group Inc. is building an eight-hectare residential project
also in San Fernando, Pampanga.
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