Megaworld to infuse P5B more in Cavite property

Andrew Tan-led property developer Megaworld is increasing its 10-year capital spending to build its Maple Grove township in General Trias, Cavite, to P15 billion from P10 billion.

In a briefing on Wednesday, Megaworld chief strategy officer Kevin L. Tan said the company was already “fast-tracking the development in Maple Grove as we see a growing demand from both residential and office market in this area.”

The company noted it had been getting “a lot of Chinese inventors” on the heels of the rekindling of diplomatic ties between the Philippines and China.

The township would include the construction this year of Megaworld’s first lifestyle mall in Cavite, valued at P1.5 billion. The two-level “sustainable” mall would house several retail and food and beverage outlets, four cinemas, indoor events area and an anchor supermarket.

It would have recycling facilities, provisions for roof solar panels and would be equipped with “architectural systems that maximize the use of natural sunlight.”

Tan said mall construction would be completed within two years alongside the land development.

Maple Grove would bring Megaworld’s township areas in the Calabarzon to four.—KARL OCAMPO