LISTED REAL estate giant Megaworld Corp. yesterday announced plans to invest P20 billion in the next five to seven years for its township development in Cebu, the company said in a disclosure yesterday.
“In the next five to seven years, we are investing P20 billion in this township to build luxury residential condominiums, office towers, a world-class lifestyle mall, our very own Richmonde Hotel and soon -- a sports and leisure facility,” Mr. Tan was quoted as saying in the disclosure.
In June last year, Mr. Aquino signed Proclamation No. 407 declaring The Mactan Newtown as a mixed-use special economic zone for information technology, tourism and retirement under the Philippine Economic Zone Authority.
The township is inspired by the “live-work-play” lifestyle concept that Megaworld has pioneered in the Philippines, the company said.
“This concept has transformed the way Filipinos live, work and play in one setting, having residential buildings, office towers, retail outlets, malls operate in a so-called township,” Megaworld said.
The company said two luxury residential condominiums were launched last year -- 8 Newtown Boulevard and One Pacific Residence -- both are already sold out, mostly to Japanese retirees. A new residential cluster will be launched this year.
Megaworld said it has worked with the Philippine Retirement Authority, allowing foreigners who want to retire in The Mactan Newtown get a Special Resident Retiree’s Visa.
As a cyber park, Megaworld said the Mactan Newtown is expected to generate employment for 25,000 full-time business process outsourcing (BPO) workers within five to seven years.
Two BPO companies, EnfraUSA and Results Manila, are now ready to start their operations by April. The said companies will occupy the five-storey One World Center, the first office tower to rise in the township. Around 1,400 workers will be employed by the two companies. Both are first-time locators in Cebu, Megaworld said.
“We have fully leased out One World Center, so we will be starting the construction of our second BPO tower, Two World Center, this year. It will accommodate an additional 2,000 workers. We hope to have it ready by first quarter of next year as several big BPO companies are already lining up to lease,” Jericho Go, first vice-president for Business Development and Leasing Group of Megaworld, said in the same statement.
Megaworld said more office spaces will be available for lease as 8 Newtown Boulevard, and Pacific World Tower will open for business in the next two to three years. Both towers will accommodate around 13,000 BPO seats. To inquire for Megaworld Projects, contact Mr. Samuel Lao at +639173236123. -- JOV
source: bworldonline.com
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