Megaworld invests P15 B in new Davao business district

By: Doris C. Dumlao - 10 years ago

MANILA, Philippines — Property developer Megaworld Corp. is investing P15 billion within the next five to seven years to develop its first “township” project in Mindanao.

The project, Davao Park District, is envisioned as a major central business district and a key center for information technology and business process outsourcing in Mindanao. It is located on an 11-hectare property at the S.P. Dakudao Loop in Lanang, Davao City, which used to be the Lanang Golf and Country Club.

“Davao City is the economic center of Mindanao. This is the best place to build our very first township in Southern Philippines, which we envision to be Mindanao’s new central business district. In Davao Park District, the people of Mindanao can finally experience Megaworld’s pioneering live-work-play-learn township concept,” Megaworld chairman and chief executive officer Andrew Tan said in a press statement on Wednesday.

Office towers suited for business process outsourcing companies and other corporate offices will be the first towers to rise at Davao Park.

“As the country’s largest office developer and landlord, we will also be bringing our expertise and leadership in the development of state-of-the-art office towers to Davao City. We hope to bring in new BPO locators to set up operations in the city,” said Jericho P. Go, Megaworld first vice president.

Aside from office towers, Davao Park District will also feature themed residential condominiums that will be built by Suntrust, a wholly owned subsidiary of Megaworld.

The township will also have a lifestyle mall, commercial and retail strips, and a school.