February 24, 2020 | 12:04 am
MEGAWORLD Corp. is building a new residential project in its Maple Grove township in Cavite.
In a statement over the weekend, the listed property development firm of businessman Andrew L. Tan said it is launching a 16-storey residential development in the 140-hectare township in General Trias.
The project, which will be called La Cassia Residences, is seen to raise P1.4 billion in sales from offering 238 units. It will stand on the Maple Grove Commercial District of the Maple Grove township, which Megaworld dubs as a “Makati-inspired business district.”
“There is a growing demand for residential condominiums in this part of Cavite especially among the next generation Caviteños who are excited to see the next phase of Cavite and experience a more dynamic lifestyle,” Megaworld First Vice-President for Sales and Marketing Eugene Em Lozano said in the statement.
Interested buyers may choose from eight different unit layouts and sizes: studio of up to 27.5 square meters; studio with balcony of up to 29.5 square meters; studio with lanai of up to 32 square meters; studio garden with balcony of up to 33 square meters; one-bedroom of up to 40 square meters; one-bedroom with lanai of up to 49.5 square meters; two-bedroom of up to 79.5 square meters; and two-bedroom garden with balcony of up to 88 square meters.
The whole development is due for completion in 2025.
Mr. Lozano said it is the goal of Megaworld to provide a nature-inspired ambiance in the building, hence it will be built in front of a green park. It will also have amenities such as a swimming pool with pool deck, function hall, fitness center, outdoor fitness facilities, daycare center and walkway area.
“Inspired by nature’s grand design, La Cassia Residences will not only offer complete lifestyle experience for its residents but also a prime address surrounded by natural foliage while introducing the beauty of the outdoors into each home,” Mr. Lozano said.
The Maple Grove Commercial District was launched by Megaworld in 2017 and has so far sold 363 commercial lots. The 35-hectare development will be surrounded by parks to complete a green ambiance in the area.
Maple Grove is one of Megaworld’s three townships in Cavite, the others being Arden Botanical Estate in Trece Martires and Suntrust Ecotown in Tanza.
Aside from La Cassia Residences, the company also previously launched the 10-storey residential building The Verdin at Maple Grove, the 17-storey office building One Corporate Place, and the two-level mall Maple Grove Town Center within the Maple Grove township.
In the future, it is planning to add a chapel, a transportation hub, biking and jogging tracks, a futsal field and a six-lane Maple Grove Boulevard. Megaworld is investing P15 billion over a 10-year period to develop the whole Maple Grove township.
The company’s earnings in the first nine months of 2019 grew 14% to P12.8 billion, driven by a 17% increase in revenues to P48.12 billion. Its shares at the stock exchange closed P3.80 apiece on Friday, down 25 centavos or 6.17% from the previous session. — Denise A. Valdez
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