Megaworld unveils P45B township project in Global City

MANILA, Phlippines—Andrew Tan-led Megaworld Corp. unveiled on Wednesday the start of its P45-billion investment in a 15-hectare integrated township district called Uptown Bonifacio in Bonifacio Global City, Taguig City.

The investment will be made for the next 20 years in this mixed-use development located in the northern district of Fort Bonifacio extending all the way to Kalayaan Avenue. The property is near the British, Japanese and American international schools.

“Uptown Bonifacio, designed to be the country’s newest business district, will take Megaworld’s live-work-play lifestyle to new heights,” said Megaworld senior vice president for marketing Noli Hernandez.

This project will feature up to 18 towers, offering a total potential development of 500,000 square meters of residential space, 400,000 sqm of office space and 90,000 sqm of retail space.

The construction of the 45-story One Uptown Residence, the community’s first residential offering, is valued at P7.5 billion.

“We’re not just selling an ordinary condominium unit to our buyers. We’re giving them the opportunity to own a lifestyle that is both luxurious and convenient,” said Hernandez.

He said residents would enjoy easy access to luxury malling experience through One Uptown Residence’s basement retail strip, which serves as a connecting walkway to the three-level 33,000-sqm Uptown Place next door.

Aside from retail attractions, Uptown Bonifacio also hosts a four-tower 140,000-sqm P12billion corporate block along Megaworld Avenue, its main avenue.

Megaworld’s upcoming CBD development in Taguig will be constructed under the Berde [Building for Ecologically Responsive Design Excellence] rating system. These office buildings will showcase “cutting-edge architecture, double-glaze glass walls, sky gardens and a lagoon,” the company statement said.

“We will continue our best efforts to ramp up the construction of our next-generation ‘green’ office developments in Uptown Bonifacio that will help generate at least 80,000 new jobs in the area,” said Jericho Go, Megaworld first vice president for business development & leasing division.

Megaworld has maintained leadership in the residential condominium market, according to international real estate services firms CB Richard Ellis and Colliers International.  This ranking was based on the number of residential units completed and to be completed until 2016 and the total aggregate salable area.