Megaworld turning over P9B worth of condo units

Megaworld Corp. is poised to deliver to homebuyers more than 1,000 residential condominium units worth about P9 billion in the Makati central business district this year.

“We have started the turnover process in the middle of this year and our goal is to complete this at the soonest possible time,” Eugene Em Lozano, first vice president for sales and marketing at Megaworld Makati CBD, said in a statement yesterday.

The units for turnover include those from the 30-storey Paseo Heights and the 50-storey Three Central, both in Salcedo Village, Makati.

Last year, Megaworld turned about 800 residential units in Makati CBD, consisting of inventory in Two Central and Greenbelt Hamilton Tower 1.

Megaworld has so far delivered about 4,000 residential units from its various condominium projects within Makati CBD. These included units in other Makati CBD residential projects such as: One Central, Paseo Parkview Towers 1 and 2, One Lafayette Square, Two Lafayette Square, The Manhattan Square, The Salcedo Park Towers 1 and 2—all within Salcedo Village. Others consisted of units in Legazpi Village: Greenbelt Chancellor, Greenbelt Excelsior, Greenbelt Madison, Greenbelt Parkplace and Greenbelt Radissons.

Four more residential towers are currently under construction: Salcedo Skysuites, San Antonio Residence, Greenbelt Hamilton Tower 2 and The Ellis.

The Megaworld Group —which includes subsidiary Empire East Land Holdings Inc.—has 30 buildings in Makati City.

“We continue to look for more opportunities to build more residential properties within Makati CBD because there is still high demand. Rental rates remain high as well,” added Lozano.