Megaworld expects big sales from Manila project

Megaworld Corp. expects to see significant revenues from its newest high-end condominium development in the Binondo district that is a key component of the property developer’s thrust to develop Manila’s Chinatown.

The new project, named Noble Plaza, is expected to rake in as much as P4.5 billion in total sales, based on current selling prices, according to officials of the publicly listed firm.

Touted as the first of its kind in Binondo, the 47-story residential tower will feature amenities and interiors that will “provide a stark contrast to the traditional Chinese architecture prevalent in the district,” the company said.

According to Wilson Sy, who heads Megaworld’s sales and marketing for the Chinatown area, no less than company chairman Andrew Tan visualized the transformation of the old and traditional image of the area into a more vibrant community.

“Chinatown is one place close to his heart because he grew up here,” Sy said.

Prices start at P3.3 million each for 38-square-meter “studio-type” condo units, then go all the way up to P19 million for five-bedroom units each with an area of 186.7 sqm.