First tower units sold out in just two months; property price already increased by 15-percent
Huge demand for residential properties inside the 34.5-hectare McKinley West continues even as prices have significantly increased during the past years.
Megaworld’s third residential condominium development, Park McKinley West, has sold the entire first tower just two months after it was launched in May, with total sales of around P6.5-billion.
“At present, unit prices of Park McKinley West already rose 15% to P250,000 per square meter because of the huge demand for residential properties in McKinley West. We somehow expected this considering the remarkable take-up of lots in McKinley West Village, and the brisk sales of units in St. Moritz and The Albany. McKinley West is truly on a roll,” reveals Noli D. Hernandez, senior vice president for sales and marketing, Megaworld.
Because of this, Megaworld is launching a second tower of Park McKinley West with 478 spacious units ranging from one-bedroom (up to 48.5 square meters); two-bedroom (up to 110 square meters); three-bedroom (up to 212 square meters); four-bedroom (up to 229 square meters); and five-bedroom penthouse units (up to 336 square meters).
The 25-storey second tower of Park McKinley West will have the same amenities as the first tower, which include the lap pool and kiddie pool with own pool deck and lounge, fitness center, function rooms, yoga room and outdoor yoga deck, outdoor sitting areas, water features, children’s playground, game room and sky garden.
Total projected sales for the second tower amount to P7-billion. The project is expected for completion by 2023.
Park McKinley West is the fourth residential development launched in McKinley West, which is strategically located in the southern part of Fort Bonifacio beside Forbes Park and the Manila Polo Club.
Megaworld launched the township’s first residential development, the upscale McKinley West Village, which was sold out in just a week in 2010. Prices of McKinley West Village lots have since increased almost thrice to P200,000 per square meter.
St. Moritz Private Estate and The Albany are the other two luxury residential developments that have already been launched in the township. Prices of both developments have appreciated by almost 40% since their respective launches.
For first 5 months of 2018, reservation sales already reached P73-b
Property giant Megaworld and its subsidiary brands are launching new residential projects with a total value of P80-billion this year, doubling that of last year’s P39-billion worth of launches.
This record launch of residential projects by Megaworld, which includes subsidiaries Global-Estate Resorts, Inc. (GERI), Empire East Land Holdings, Inc., and Suntrust Properties, Inc., spans across various township developments and key cities all throughout the country.
Approximately 70% of this year’s new launches will come from parent company Megaworld, which has earmarked new projects in Arcovia City in Pasig City; Capital Town in Pampanga; Iloilo Business Park in Iloilo City; Maple Grove in Gen. Trias, Cavite; The Upper East in Bacolod; Westside City in Paranaque City; McKinley West and Uptown Bonifacio in Taguig; as well as in Makati CBD and Manila City.
Global-Estate Resorts, Inc., on the other hand, is set to cover around 15% of the new launches in Twin Lakes near Tagaytay; Southwoods City in Biñan, Laguna; and in Ortigas CBD.
Suntrust Properties, Inc. is set to take up the remaining balance through residential launches in Quezon City, Cavite, Davao, Baguio and in Bicol Region.
‘This record launch of new residential projects in a year is intended to further boost our aggressive position as the country’s top residential developer. There is no better time to expand our residential offerings across the country but now, when the economy is sound and healthy, and our country is experiencing the infrastructure boom,” says Kevin L. Tan, senior vice president, Megaworld.
As of end-May, Megaworld and its subsidiaries have already achieved reservation sales for its residential offerings amounting to P73-billion. The group has seen robust demand in its townships such as Westside City in Pasay City, McKinley West in Taguig City, Maple Grove in General Trias, Cavite, and Iloilo Business Park in Iloilo City, among others.
In 2017, Megaworld’s residential business comprised 70-percent of its entire revenue pie, growing around 4.5% to P34.6-billion year-on-year.
This year, Megaworld is expected to spend P60-billion to finance its various development projects including residential developments, as well as for land acquisition and other investment properties.
Property developer Megaworld is officially starting the construction of FactSet’s regional headquarters in McKinley West after formally breaking ground on Jan. 16.
The groundbreaking at the site was attended by Megaworld Senior Vice President Jericho P. Go and FactSet Chief Executive Officer Philip Snow.
The 17-storey FactSet Tower is located along Le Grand Avenue in McKinley West, and will offer 48,000 square meters of office space. Set to be a LEED-certified Green building, it’s slated for completion in early 2020.
Present during the groundbreaking ceremony were Joselito A. Asturiano, area manager, Datem; Lesley E. Villanueva, business development manager/ design and built head, Datem; Nico B. Angeles, leasing manager, Megaworld; Victor S. Verdillo, vice president, Megaworld, Jericho P. Go, senior vice president, Megaworld John Wiseman, executive vice president, FactSet; Claudine T. David, managing director, FactSet; Mara Garcia-Morales, regional facilities manager, FactSet.
FactSet will be setting up its head quarters at the One Legrand tower along Legrand Avenue, Mckin;ey West.
This article was first published in Inside World Newsletter January 2018.
25-storey Park McKinley West to offer spacious unit layouts of up to 336-square meters
Megaworld, the country’s leading developer of integrated urban townships, has launched a new residential development in its 34.5-hectare McKinley West township development in Fort Bonifacio.
Rising along the township’s Le Grand Avenue, the 25-storey Park McKinley West offers spacious unit layouts ranging from one-bedroom (up to 48.5 square meters); two-bedroom (up to 110 square meters); three-bedroom (up to 212 square meters); four-bedroom (up to 229 square meters); and five-bedroom penthouse units (up to 336 square meters).
“In this residential development, we focused on a wider choices of unit layouts to cater to the varying requirements of urban condo dwellers who are looking for properties in this side of Fort Bonifacio,” says Noli D. Hernandez, senior vice president for sales and marketing, Megaworld.
The new residential tower also offers generous amenities to its residents. Aside from the standard facilities such as swimming pool (lap pool and children’s pool), fitness center and function rooms, Park McKinley West will have wellness amenities that include a Yoga Room and Outdoor Yoga Deck. Other amenities include a pool deck with pool lounge chairs, outdoor sitting areas, water features, children’s playground, game room and a Sky Garden at the 15th floor.
“From seasoned achievers to young professionals and executives, and rising entrepreneurs, Park McKinley West becomes a testimony of everyone’s accomplishment in life. We are tapping on this new generation of accomplished individuals to live in this rising business district,” adds Hernandez.
Megaworld’s sales projection for this new residential tower is at P6.5-billion. The project is expected for completion by 2022.
Park McKinley West is the third residential development launched in McKinley West located in the southern part of Fort Bonifacio beside Forbes Park and the Manila Polo Club.
St. Moritz Private Estate and The Albany are the two other residential developments that have already been launched in the township.
Both developments have been awarded the Best Universal Design and High Commended for Best Luxury Development in Metro Manila, respectively, at the Philippines Property Awards.
By: Amy R. Remo, Philippine Daily Inquirer / 05:32 AM February 03, 2018
Never has innovation played an even more strategic role to humanity than today.
With technology disrupting practically every facet of day to day living, the need to innovate and come up with fresh ways to adapt to changing times has never become more pressing, urgent, and significant.
From the way people work, conduct their businesses, even live and communicate, technology has drastically distorted and revolutionized the status quo compared to just a decade ago.
The gravity of this matter is not lost on global leaders and top executives, who are now exploring various ways to efficiently leverage on the benefits of the Fourth Industrial Revolution and digital economy.
In fact, part of the World Economic Forum Annual Meeting in Davos last month saw some discussions focusing on technology and artificial intelligence and how these can be harnessed in trade, job creation, smart agriculture and food systems, disaster resilience, governments, as well as intelligent, connected and livable cities.
The need for cities to innovate is just as pressing too—especially since it is expected that by 2050, another 2 billion people will be added to the global urban population.
This, according to data from WEF, would be equivalent to creating a city the size of London or San Francisco every month over the next two decades, a development that will press cities “to do more with less,” to be “smarter, greener and more efficient,” and most importantly, “to innovate.”
Hence, there has been a growing thrust to create smart cities—cities that are able to harness digital technologies to reshape communities and make it healthier, more efficient, connected, accessible, livable, and sustainable for the people. In short, cities that are said to be prepared for the future.
Based on certain indices, cities such as Copenhagen, Singapore, Stockholm and Seoul are touted as among the world’s smartest cities. Other cities, however, are still considered work in progress.
In the Philippines, a real estate giant is making a bold move, taking the lead in creating smart cities, as it pioneers what it has dubbed as ‘iTownships.’
“iTownships will become our new brand in ‘creating the townships of the future.’ It is about innovation, integration, internet and interconnectivity. Having these features in our townships does not only make our developments ‘future-ready’, but it also allows us to take greater steps towards sustainability and environmental responsibility,” explained Kevin L. Tan, senior vice president of Megaworld Corp.
“In this fast-changing digital world, we see the importance of aligning our developments to quickly adapt to the disruptions, which we perceive as opportunities,” he added.
The company’s move to roll out “iTownships” formed part of its efforts to “future-proof” its developments, which comprised of more than 660 residential developments, 54 office towers and 15 lifestyle malls within its 22 townships and integrated lifestyle communities across the Philippines.
This latest innovation from Megaworld, follows its 28-year leadership in pioneering the “live-work-play” concept in property development, which eventually gave birth to the so-called townships. This time around, the company is again raising the bar and elevating the standards of all its developments by incorporating digital technology, design innovations and connectivity into its townships. Tan said they have already assigned teams to study how they can seamlessly integrate smart technology and innovations into their townships.
Among the projects to be implemented include the digitization of customer service and payment processes, integration of smart home technology in residential units, utilization of digital technology and energy-efficient materials in structural designs, creation of Township Operation Centers across all developments which maximizes 24/7 security and safety monitoring and emergency response in every township, urban art installations and creative pedestrian crosswalks, smart parking system including provision for electric vehicle charging in mall developments.
Green and sustainable features will also be at the core of the program.
Some of the initiatives that will be implemented include the conversion of old streetlights to LED (light emitting diode) and solar-powered lights, green roofing for office buildings, provision of vertical green spaces across developments.
To know more about Megaworld Corporation's different township developments such as Uptown Bonifacio, Mckinley West, Mckinley Hill, and Mactan Newtown; and the high end condominiums that we are offering in our townships, you may inquire HERE.
The Viceroy condominium is Megaworld Corporation's modern residential enclave inside the Mckinley Hill township with moderately sized studio units (23 sqm and 26 sqm). This residential development adds a more modern twist compared to its predecessor, the Stamford Residences and Morgan Suites. This project is perfect for investment and and personal use because it is located near major establishments inside the Mckinley Hill township (Venice Grand Canal Mall) and Bonifacio Global City (High Street, St Lukes, Uptown Mall, SM Aura, Shangri-La Hotel), and several corporate office hubs.
Tower 1 and Tower 2 residential units are being turned over as of the moment, with Towers 3 and 4 coming soon.
I was given the privilege to take a peek at the studio unit of my good friend at Viceroy tower 1. I was really amazed of how beautiful the unit was, and it was a total upgrade compared to the older projects of Megaworld. The attention to detail was there and Megaworld really over delivered with this one. Now, I am really excited with Megaworld's future projects!
Inside the unit, it has this vibrant home feeling with the colour combinations matching together. Add to that the nice kitchen with its built in cabinets, counter top, plus the cooktop and range hood. Inside the bathroom, nice fixtures were installed as well plus a partial shower enclosure.
Just looking at the photos below, you can really tell that this unit in Viceroy is ready to be your future home or a wise investment!
Ask us about Megaworld's other pre-selling projects in the Mckinley Hill (Florence, Viceroy, Venice) and Bonfacio Global City Area (One Uptown Residence, Uptown Ritz, Uptown Parksuites).
Megaworld Global Condos
Megaworld Corporation's developments in Mckinley Hill, Fort Bonifacio are in full swing of its construction!
Featuring the 4 towers of The Viceroy, with its classy and modern full glass facade. The Viceroy towers are topped off already.
Megaworld's newest project in the Mckinley Hill township - The Florence on the other hand, is at its foundation stages.
Finally, The Venice Residences has its Emanuele and Fiorenzo tower in the finishing stages of its interior. While its amenity and its swimming pool is already open for the residents to enjoy!
Plus, avid mall goers can already enjoy the restaurants inside the Venice Grand Canal Mall, such as TGIFriday's, Agave, Gran Cafe Lavena, and whole lot more!
Go invest and experience this masterpiece of a community by Megaworld!
Opening soon in Megaworld's premier township development, Mckinley Hill Fort Bonifacio, is its most awaited Venetian inspired mall - The Venice Grand Canal Mall! This is the first and only Venetian inspired mall in the Philippines with its authentic grand canal feature with gondola rides. Megaworld is levelling up its game in the real estate field with this very unique community concept. Investors will definitely get their money's worth as property values are sure to sky rocket in this prime location.
Watch out for signature brand shops, unique concept restaurants, and Ultra cinemas for your full enjoyment. This premier mall is the heart of the 50-hectare Mckinley Hill township, fully accessible to the multinational companies, international schools, embassies, village, and condominiums nearby.
Now, imagine the convenience of living a few steps from your office and a mall such as The Venice Grand Canal Mall. This is Megaworld's vision of eliminating time wasted in traffic jams and long commutes by creating self-sustaining communities. You can have your own place to call home in Mckinley Hill and enjoy the convenient lifestyle that Megaworld offers.
Ask us about Megaworld's prime property offerings and promos!
(Venice Luxury Residences, The Florence, The Viceroy)
Assistant Sales Manager / Licensed Real Estate Broker #13593
Megaworld Corporation - Fort Bonifacio
Megaworld Global Condos