MEGAWORLD expects to complete ongoing construction works in its township project in Bonifacio Global City in three to four years.
Megaworld Senior Vice President Noli Hernandez said the company is scheduled to complete current developments including two luxury condominiums, a high-end mall and five corporate towers within the 15-hectare property in northern BGC by 2016 to 2017.
He said the 45-story high One Uptown Residence is already 100-percent sold and is targeted to be completed in July 2016. Another luxury condominium project, the Uptown Ritz, is said to be 65-percent sold and will be finished by June 2017.
Expected total sales for both residential condos is P10 billion, of which P5.5 billion is accounted by One Uptown and the remaining P4.5 billion from Uptown Ritz.
Hernandez said Uptown Ritz is an “all-suites” development with three- to four-bedroom units on the penthouse floors in the 40th to 45th levels while the smallest units will have two-bedroom configurations.
One Uptown Residence, meanwhile, is also 45-story high and will have eco-friendly features such as green walls, sky gardens and a 20-meter man-made waterfall. Units will feature one- to three-bedroom configurations.
Another township development scheduled for opening in 2016 is the Uptown Place Mall which will have five stories and six basement floors serving both retails and office areas.
The shopping place will have a total floor area of 47,492 square meters, of which 36,689 sq m are leasable (including an anchor supermarket at the basement and a high-end food court at the fourth level, five modern cinemas on the third floor (similar to the high-tech cinemas featured in Resorts World in Pasay City, another Megaworld development), a roof garden on the fourth level and water features in both the ground floor plaza and roof deck. Retail establishments to be feature in the mall will be composed mostly of high-end luxury brands.
Hernandez said boosted by the impressive take-up of the residential units in the two towers, Megaworld is already planning to launch new towers “very soon.”
Also set for completion in 2016 are five office buildings of 15 to 30 stories high. The flagship corporate office tower is the 25-story Alliance Global tower which will serve as the future headquarters of the Andrew Tan-owned Alliance Global Group Inc. (AGI). One of the country’s biggest conglomerates, AGI has interests in the food and beverage industry, real-estate development, hospitality and gaming, and the quick-service restaurant sector, including Megaworld, Empire East, Global Estate Resorts, Emperador Distillers, Travellers International Hotel Group, to name a few.
Two corporate office buildings are currently being applied for LEED or Leadership in Energy and Environmental Design that provides third-party verification of green buildings, the Megaworld executive said.
Hernandez added that the company plans a good mix of residential and commercial establishments in the Uptown Bonifacio complex. “Hospitality developments such as hotels are in the pipeline and we plan to attract not only business process outsourcing offices but multinational corporations as well.”
Megaworld is investing P65 billion to develop the 15-hectare Uptown Bonifacio which is envisioned to be a huge community of modern condominiums, offices and retail establishments based on the company’s “live-work-play” concept.
Harold Geronimo, Megaworld director for strategic marketing and communications, said the development is expected to be the second central business district within BGC.
Megaworld is developing 104.5 hectares in the former military base. About P15.6 billion will be spent over the next 20 years to develop the 8.38-hectare property in the North Bonifacio Central District into a master-planned, mixed-use complex with more than 500,000 square meters of floor space. Around P22 billion is also allotted to develop the 34.5-hectare McKinley West (formerly known as the Jusmag property) into a mixed-use complex.
Uptown Bonifacio is a joint venture between Megaworld and the Bases Conversion and Development Authority. For Project inquiry, contact us at +639173236123.
In Photo: Megaworld Senior Vice President Noli Hernandez presents the scale model of Uptown Bonifacio, a P65-billion project in northern Bonifacio Global City composed of luxury condominiums, an upscale mall and corporate office towers, including the flagship Alliance Global tower that will serve as the corporate headquarters of the Alliance Global Group Inc. companies controlled by businessman Andrew L. Tan. Megaworld is developing four projects in the former military headquarters, accounting for 104.5 hectares of the area’s total 200 hectares. (Nonie Reyes)
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