Megaworld, Manila Jockey Club OK P1.89B deal for land near Chinatown | Inquirer Business

Megaworld, Manila Jockey Club OK P1.89B deal for land near Chinatown

By: - Business Features Editor / @philbizwatcher
/ 02:32 PM January 19, 2022

Megaworld, Manila Jockey Club

Tycoon Andrew Tan-led property developer Megaworld Corp. has signed a deal to acquire from Manila Jockey Club Inc. a rare 2.2-hectare urban land bank in Sta. Cruz, a district close to Manila’s Chinatown, part of the San Lazaro Tourism and Business Park, for about P1.89 billion.

“Currently, our big projects in the city of Manila are concentrated in Binondo district, particularly within our Lucky Chinatown project where we have a lifestyle mall, condominium towers, a cultural museum, and a hotel,” said Kevin Tan, chief Megaworld strategy officer, in a disclosure to the Philippine Stock Exchange on Wednesday (Jan. 19).

“When we finalize the purchase of this land in San Lazaro, this will surely be part of our township portfolio expansion in Metro Manila,” Tan said.

In a separate disclosure, Manila Jockey Club said it had agreed to sell, transfer and convey to Megaworld such parcels of land for a total purchase price of P1.89 billion.

TSB
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Binondo, Business, Manila Jockey Club, Megaworld, Real Estate

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.