WEDNESDAY, 25 JANUARY 2012 19:14 MIGUEL R. CAMUS / REPORTER
MEGAWORLD Corp. is investing P45 billion over the next 20 years to develop the 15-hectare integrated township project in Bonifacio Global City in Taguig.
In a statement on Wednesday, Megaworld said the Uptown Bonifacio project will feature up to 18 towers, offering a total potential development of 500,000 square meters (sq.m) of residential space, 400,000 sq.m of office space and 90,000 sq.m of retail space.
This includes the 45-story One Uptown Residence, the community’s first residential offering, valued at P7.5 billion and a four-tower 140,000 sq.m corporate office block valued at P12 billion, the statement showed.
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“Uptown Bonifacio, designed to be the country’s newest business district, will take Megaworld’s live-work-play lifestyle to new heights,” said Noli Hernandez, Senior Vice President for marketing.
Megaworld shares declined 4.3 percent to P1.78 each on Wednesday, giving it a market value of P45.89 billion.
The predominantly mixed-use Uptown Bonifacio is situated in the northern district of Fort Bonifacio which extends to Kalayaan Avenue, and is near the British, Japanese and American international schools.
The builder added that the district will be constructed under the BERDE (Building for Ecologically Responsive Design Excellence) rating system.
“We will continue our best efforts to ramp up the construction of our next generation “green” office developments in Uptown Bonifacio that will help generate at least 80,000 new jobs in the area.” Jericho Go, First Vice President for business development and leasing division, said.
Megaworld reported earlier that net income in the nine months through September rose to a record P4.08 billion, up 36 percent year on year, on the back of continued strong residential real estate sales and business process outsourcing office rental income.
The builder is a unit of holding firm Alliance Global Group Inc., which is involved in gaming and tourism, liquor manufacturing and fast food services
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