Megaworld aims to finish Mactan project in 5 years

By Ehda M. Dagooc, Staff Member (The Freeman) Updated June 20, 2012 12:00 AM Comments (0)

CEBU, Philippines - The country’s largest township developer, Megaworld Inc., targets to complete its P10 billion project in Mactan Island called “The Mactan Newtown” in the next five years.
The development, which is likened to Manila’s Eastwood City in Libis, is a 16-hectare development that will host several residential, commercial, retail, wellness, hotel, food, entertainment and leisure facilities, and is expected to be the next destination to watch for in Cebu, said Megaworld Corporation first vice president for sales and marketing Noli D. Hernandez in a press conference held recently at the Radisson Blu Hotel.
Its first cluster of towers, which are currently under construction are already sold out to young Japanese retirees. It has a total of 716 condominium units.
 Meanwhile, the company is set to construct its second cluster called “The Newtown Boulevard” which consists of four towers, the two towers are already contracted by another group of Japanese buyers, while the other tower will be offered to the local market. One tower of the second cluster will be built for the growing demand from the Business Process Outsourcing (BPO) tenants.
Hernandez said in the next five years, the Mactan Newtown will be able to help in improving the local economy by building enough space to be able to accommodate 25,000 office and BPO seats. This is estimated to generate around 40,000 jobs.
Megaworld Corporation bought the 17-hectare property in Mactan in 1997. The company started to develop the property only recently, as the company sees the right timing while demand is considerably improving.
In November, the Lapu-Lapu City Government signed a memorandum of agreement with Megaworld Corp. for the joint venture project.
The firm is also getting accreditation from the Philippine Economic Zone Authority (Peza) to have the project declared an economic zone.
The One World Center, a five-level office building designed to serve the needs of top firms in the BPO and IT industries.
Some potential locators include Quantum Leap, Accenture, Hewlett Packard, Dell and IBM.
Megaworld Corp. is the developer of the 18-hectare Eastwood City, the firm’s pioneering “live-work-play township.”
The company is also forging a partnership with the Cebu Doctors Group, to establish a Wellness Center or Therapeutic Center to complete its “live, work and play” concept of the township development.
If Cebu has destinations like downtown, uptown districts, in the next few years, Cebu will have a third district destination—“The Mactan Newtown.”
This new development is adjacent to Shangri-La Mactan and Portofino along the Hilutungan Channel near Magellan Bay, making the beach resort lifestyle even more accessible.
This year, the company allocates P25 billion capital expenditure (capex) to complete the ongoing projects as well as develop new ones.
Megaworld is currently developing over 40 residential and BPO office projects in Metro Manila alone.
Last year, Megaworld posted a net income of P8.15 billion up 60 percent from a year earlier on strong real estate sales, higher income leasing incThailand, Malaysia, Indonesia and Vietnam.
Founded in 1908, it currently has 16 production facilities and 43 sales companies operating in 44 countries in different regions. — (FREEMAN)

Megaworld attracts big retiree market

8 Newtown Blvd in Cebu

December 22, 2011, 1:02am

MANILA, Philippines — After successfully opening the market for residential condominiums to mid-income families and launching the business process outsourcing (BPO) office space segment in the industry, Megaworld Corporation blazes on another new trail, as it has started to capture a chunk of the huge market for retirees.
With the soft launch of its 8 Newtown Blvd development in its 16-hectare The Mactan Newtown project in Cebu, “Megaworld hopes to attract foreign retirees and Filipinos who have spent decades working abroad to consider staying in the Philippines for their golden years. With the sensible design of our units and amenities that carefully take into consideration the needs of retirees, the company has come up with the benchmark for retirement communities in the country, after which all future developments will be compared,” said VP for marketing and project head Clifford Legaspi.
Modern and minimalist are what best describe the architectural aesthetic of the project and its overall feel. The four 15-story buildings sport clean lines and a white façade. The four-floor podium level will host commercial spaces on the ground floor and BPO offices, while residential units will start on the fifth floor to the 15th level.
Retirees can choose between executive studio units at approximately 40 sqm and one-bedroom units at about 50 sqm.
All units come with balconies so that residents can enjoy the fresh sea breeze. Units can also be combined to two or three bedrooms for bigger living spaces.
All units will be delivered pre-furnished with premium items such as LCD TV, split-type air conditioning, dining set and bed frame with mattress “to make it extremely convenient for our foreign and Filipino retirees to move in and feel at home in the Philippines,” according to Legaspi.
Once they move in, residents will enjoy spending quality time at the fifth-level play deck. Watch the sun rise while swimming at the horizon-edge pool. Have a hot bath at the onsen room. Exercise their green thumbs at the Japanese garden. Meditate at the rock garden. Share stories at the tea room and do their flower arrangements at the ikebana room.
And since this is a top retirement community, 8 Newtown Blvd will also host a Wellness Center that will address the residents’ medical and health requirements.
The location of the project in The Mactan Newtown gives residents easy access to the beach, as the development is just beside Shangri-La Mactan and adjacent to Portofino Beach Resort. The Mactan International Airport is also just 10 minutes away, where they can catch flights to Hong Kong, Macau, Osaka or even Dubai.
Other landmarks that are nearby, on the main Cebu island, that may be of interest to retirees are commercial establishments at Ayala Center and golf courses including Cebu Country Club and Alta Vista.
“The new project offers everything that a retiree considers in a future home,” according to Legaspi.
He also announced that Megaworld recently inked a partnership with the Philippine Retirement Authority to facilitate Special Resident Retiree’s Visa (SSRV) applications of qualified foreign clients through their investment at 8 Newtown Blvd.

Lapu, Megaworld sign deal

Friday, November 11, 2011
THE Lapu-Lapu City Government, through a joint venture with a real estate giant, plans to put up the city’s answer to Cebu City’s Asiatown IT Park.
Lapu-Lapu City Mayor Paz Radaza announced in a press conference yesterday that the City Government and Megaworld Corp. plan to construct the Mactan Town Center in Barangay Mactan.

Megaworld Corp. signed a memorandum of agreement with the City yesterday morning. The holding firm’s projects include mixed-use communities and office spaces for business process outsourcing (BPO) companies. A source privy to the Mactan project said the
development cost is projected to reach P2.5 billion.
Jericho Go, Megaworld first vice-president, told reporters the 16.8-hectare Mactan Town Center will be different from its counterpart in Cebu City, as it will not only cater to industrial and BPO companies, but also to commercial, leisure and even retirement services.
The town center will be overlooking the coast, Go said.
“All the successful ingredients to launch our project are in Lapu-Lapu City,” he said.
Go said they are also seeking accreditation with the Philippine Economic Zone Authority (PEZA) in order to declare their project as an economic zone.
Once the project starts operation, about 2,500 jobs will be created, particularly for those living in Lapu-Lapu City, Go said.
For now, some potential locators include Quantum Leap, Accenture, Hewlett Packard, Dell and IBM.
Go said they will develop the property in such a way that expansion will be easily facilitated.
As of now, a building is being constructed, and utilities like water, electricity and drainage are already in place, he said.
To meet electricity needs in the surrounding areas, Go said they have given a commitment to the Mactan Electric Company (Meco) to allow them to construct a power station within their project area.
The Metropolitan Cebu Water District (MCWD) has also committed to provide water supply in the project area and to provide a water truck in the event that a shortage occurs.
Radaza, for her part, said the project will be beneficial to the city government as it will not only create more jobs for her constituents but will also generate revenues for the City.

Published in the Sun.Star Cebu newspaper on November 12, 2011.

Gokongweis launch Galleria

 

Thursday, July 26, 2012
GOKONGWEI-led Robinsons Land Corp. (RLC) is spending over P5 billion for the construction of Robinsons Galleria Cebu, a mixed-use integrated complex that is soon to rise in a 4.6-hectare property along General Maxilom Ext.
According to RLC president Frederick Go, they are “ramping up” investments in Cebu because of its robust economic growth as shown by its vibrant retail and tourism sectors.

“There are still a lot opportunities that can be found here,” Go said during the groundbreaking ceremony of the Robinsons Galleria Cebu yesterday.
Robinsons Galleria is the company’s 38th mall and biggest outside Metro Manila. It is a seven-storey commercial building that will have a gross floor area of about 156,000 square meters (sq. m.).
It will house RLC’s first Cebu branch of Go Hotel, shopping mall, and office spaces for the business process outsourcing (BPO) firms.
Condominiums, too
In addition, Go announced the second phase of the development is the construction of four high-rise residential condominiums at the back of the commercial building.
The Robinsons Galleria Cebu will have a 153-room Go hotel. The BPO offices, meanwhile, will occupy three floors with over 9,000 sq. m. of leasable space and the four-storey shopping mall will have a gross leasable area of 56,000 sq. m.
The mall will house 300 tenants offering a mix of international, local and homegrown brands.
Its anchor tenants will include Robinsons Department Store, Robinsons Supermarket, True Value, Robinsons Appliances, Saizen, and Toys R’ Us. The mall will also have six cinemas, including two 3D theaters with a total seating capacity of 1,800.
Target: 2014
Go said the mall is expected to be completed by 2014. The first tower of the residential condominium is targeted to be launched next year.
Robinsons Galleria Cebu is RLC’s third mall in Cebu after Robinsons Place Fuente and Robinsons Cybergate Cebu.
The firm’s other ongoing projects include the upscale Amisa residential development in Mactan; Azalea Residences, a residential development on Gorordo Ave.; and Blue Coast and Aspen Heights, which are under Robinsons Communities and Robinsons Home brands, respectively.
Next year, the company is set to open five more Robinsons Place malls in Butuan, Roxas City, Malolos, Malabon and Santiago, Isabela.
RLC’s net income for the first quarter of its fiscal year 2012 rose by 13 percent to P1.15 billion. The company’s shopping malls alone generated P1.8 billion in the first quarter. RLC’s first quarter fiscal year 2012 covers October to December 2011, for more information of Robninsons Land Projects, contact 09173236123.

Published in the Sun.Star Cebu newspaper on July 27, 2012.

Newtown qualifies for Peza incentives

By Katlene O. Cacho

Friday, July 27, 2012
MEGAWORLD Corp.’s, biggest project in Cebu so far, The Mactan Newtown, is now a special economic zone registered under the Philippine Economic Zone Authority (Peza).
In a press statement, Megaworld said the 16-hectare township development will enjoy privileges granted by the national government under Republic Act 7916, the Special Economic Zone Act of 1995.

These include special tax incentives and holidays to business establishments and permanent resident status for foreigners who have a certain amount of investments in the eco-zone.
Megaworld said the government’s declaration of The Mactan Newtown as a special economic zone highlights “the development’s use for tourism, information technology and retirement.”
The P10-billion project will house residential condominium buildings, business process outsourcing (BPO) buildings, retail and entertainment strips, and an upscale boutique hotel. This is the company’s first development in Metro Cebu that is expected to boost the economic landscape of Mactan.
“Megaworld sees the opportunities of growth of the BPO industry in Cebu. With this, we expect new BPO companies coming in as we offer the most modern BPO offices in this side of the country,” says Jericho Go, first vice-president, Business Development and Leasing Division, Megaworld Corp.
The company has completed construction of the five-storey One World Center, which will offer upper floors for office spaces and the ground floor for retail shops. The company is working on another BPO-ready building, Two World Center, and 8 Newtown Boulevard, a residential condominium that will also allocate three floors of office spaces.
Megaworld Corp. was named the country’s top residential condominium developer, cornering a 16 percent share of the property market in a study by CB Richard Ellis. A study conducted by Colliers International, meanwhile, recognized the company as the top provider of BPO offices in the last 10 years. For Project inquiry, contact us at 0917.3236123.

Published in the Sun.Star Cebu newspaper on July 28, 2012.