GOING BEYOND MEGA STRUCTURES
It was a simple vision that turned into a legacy more profound, far-reaching and heartfelt than one can ever measure.
Thirty years since its inception, Megaworld Corp. has rightfully emerged as a property giant, with self-made tycoon Dr. Andrew L. Tan at the helm of this impressive success story. From its humble beginnings that took off with the launch of Eastwood City, its first live-work-play township, Megaworld takes pride on how far it has gone, becoming the most awarded real estate developer in the country today.
It took that simple dream of providing quality homes and lifestyles to more Filipinos and transformed it to a new and more inclusive overarching vision that sees Megaworld townships of the future further uplifting lives, having a bigger impact on the society, and helping shape the nation.
EVOLVING THE LANDSCAPE
Today, the trailblazer has emerged even stronger, better and well ahead of its game, bringing its wealth of experience and expertise aptly honed over the past 30 years to more promising locations outside the main urban centers.
“Our company is strategically taking the township lifestyle into more locations in the Philippines. Today, the Megaworld Group is present in over 30 cities across the country. In these cities, we consistently launch new projects to infuse new value and evolve the landscape so it always stays vibrant, relevant and meaningful,” said the Megaworld founder and chairman.
As of end 2018, Megaworld has 24 sprawling, thriving townships with its pioneering, oftpraised live-work-play concept; a massive 4,688 hectares in land bank in key locations; 696 holistic residential developments that have helped enhance the lifestyles of its residents; 63 premium grade office towers with gross leasable space of 1.2 million sqm; 700,000 sqm filled with well curated array of retail, dining and entertainment choices spread across 19 Megaworld Lifestyle Malls; and nine premium hotels, with 2,554 hotel keys.
Such an impressive roster of achievements, which further cemented the company’s strong leadership in the market, has long caught the eye of many reputable award-giving bodies, both from here and abroad, enabling Megaworld to earn prestigious accolades that speak well of its staunch commitment to excellence and innovation.
In 2018 alone, Megaworld’s significant contributions to helping reshape the urban and rural landscapes allowed it to achieve an exceptional feat—a total of 102 distinct awards, 40 percent of which were conferred in esteemed international tilts. Seven of these citations meanwhile named Megaworld as the Best or Outstanding Developer of the Year—a milestone that seem to fittingly set the positive tone for the future of the company.
But there is another side to this success story, another face that goes way beyond all these remarkable, whopping numbers, and countless accolades from prestigious tilts.
What Megaworld has essentially created in the last 30 years is a powerful ripple effect that continues to resonate in the lives of many Filipino workers and families, cities and municipalities, industries, the economy, and the country as a whole even to this day.
It has, without a doubt, become a catalyst for growth, transforming pockets of idle land into bustling districts humming with much energy and life. Megaworld has lived to see its vision soundly fulfilled—that it uplifts lives, impacts the society, and becomes a crucial partner in nation-building—and in the process, creating a legacy for the future generations to appreciate.
From its first township that is Eastwood City, Megaworld has touched the lives of many Filipino families in more ways than one, affording them with enhanced lifestyles through premium residential condominiums that are just a few minutes’ walk away from everything they Most awarded Filipino real estate firm moves forward to help shape the Philippines need. These enclaves offer a life that is centered on ease and convenience, serving as healthy and conducive sanctuaries that allow residents to foster ties and further nurture relationships within a safe and secure self-contained community.
These townships, touted as living landscapes, offered residents a piece of the world’s most renowned cities such as those in Europe and the United States, while still retaining a uniquely local flavor that pays homage to the country’s rich heritage and culture.
For instance, one township showcases the vineyard tradition of Italy, another exudes the cosmopolitan vibe of New York City, while an upcoming one has the country’s tallest bronze monument which is reminiscent of Madrid’s Arco de la Victoria and Paris’ Arc de Triomphe. Heritage museums are either planned or are already up in several of Megaworld’s townships— one promoting Ilonggo arts, customs, and traditions, another showcasing the rich culture and history of Binondo.
Within these townships are exciting retail strips and shopping malls that bring internationally renowned names, world class amenities and experiences while celebrating the finest that homegrown brands can offer.
Megaworld Lifestyle Malls has given residents, office workers and other guests a wide yet curated selection of the best—from retail, dining, to entertainment. And it continues to evolve with the newer malls becoming eye catching architectural marvels with state-of-theart facilities that bring one’s shopping and dining experience to a whole new level—case in point is the 90,000-sqm Festive Walk Iloilo, the first full-scale lifestyle mall in Western Visayas.
Multinational companies and local businesses found a home in Megaworld townships as well. As the country’s largest developer and landlord of office spaces, Megaworld has allowed not only companies, but more notably industries, to thrive, playing a crucial role as an enabler of growth.
Such was the case with the business process outsourcing (BPO) industry, which found its first home in Eastwood, dubbed as the country’s first cybercity that was accredited by the Philippine Economic Zone Authority (Peza). It was here that the industry eventually thrived before it developed into one of the country’s primary economic growth drivers, generating an estimated revenue of about $24.5 billion to $24.8 billion last year.
Since then, Megaworld offices have catered to more industries with premium-grade buildings equipped with the latest features and technologies. The newest would be for JP Morgan Chase Bank, which will occupy some 70,000 sqm of gross leasable space from a building targeted for completion by 2021—reportedly the biggest single office lease transaction made in the country. Co-working spaces, a growing trend in the country, also found a home in a Megaworld township.
An unparalleled experience similarly awaits in Megaworld’s expanding portfolio of homegrown hotel brands that include Richmonde Hotels, Savoy, Belmont, Twin Lakes, and Hotel Lucky Chinatown. With over 2,500 hotel keys, Megaworld is not just making its presence felt, but more notably, complementing the government’s thrust to attract 12 million international tourists by 2022, up from the 7.1 million arrivals recorded last year.
Providing tourists with exceptional stays through its hotels would allow Megaworld to help achieve such targets which if met, would have a tremendous impact on the country. As it is, the travel and tourism industry already accounted for almost a fifth or 24.7 percent of the total economy and 8.4 percent of total exports last year. Not to mention the multiplier effect it has, benefiting countless cottage industries and homegrown brands that cater to tourists.
But what perhaps stands out is the fact that Megaworld has helped unlock the potential in many key areas outside the metro—spearheading the growth even—as it brought its signature live-work-play townships in the provinces. And the stark difference is that when it started to bet on these provinces, it made sure to bet big, thus helping revitalize their economies, while giving residents the kind of lifestyle they truly deserve.
Megaworld has not only created new districts and raised the standards of living in the provinces. It more importantly spurred business activities, gave homegrown firms another platform to showcase their brands, generated fresh, quality jobs, and afforded many others to have the same heightened experience of living in a township as those in the urban metro.
And soon enough, Megaworld townships will also become a breeding ground for the next generation of leaders. Last year, the Newtown School of Excellence opened its doors to its first batch of enrollees, enabling Megaworld’s Mactan Newtown in Lapu-Lapu City to embrace the “learn aspect” of the township concept.
This dovetails well with Dr. Tan’s advocacy to provide opportunities for the youth through education, as reflected in the various initiatives that the company, through its Megaworld Foundation, undertakes every single year.
To date, Megaworld has granted some 5,000 scholarships to its beneficiaries, 500 of whom are now working for companies under the Alliance Global Group. The Foundation also supports advocacies for women, children, the elderly, and differently abled, as wells campaigns geared towards healthcare, eco-conservation and calamity assistance.
Beyond the confines of the townships, Megaworld also takes to heart its duty as responsible stewards of land, creating sustainable communities with the least impact to the environment. It currently covers some 1,500 hectares of protected lands, has spearheaded more than 50 green projects and has built 19 sustainable office towers across the country.
By 2030, Megaworld is aiming for a much loftier goal as it targets its townships to be carbon neutral by then.
All these show that Megaworld truly leads with a heart, that it embraces the communities and the environment where it is present, ensuring that the growth in its townships will also be felt and enjoyed by the surrounding areas.
And as Megaworld celebrates its 30th year, it found a way to further enhance the Philippine landscape and the quality of lifestyle it provides to residents and locators. In 2018, Megaworld invested heavily in iTownships—smart townships that focus on answering the community’s need for integration, interaction and interconnectivity. Such townships seamlessly incorporate digital technology, design innovations into its developments to make it future- proof.
“Having these features in our township does not only make our developments future-ready, but it also allow us to take greater steps toward sustainability and environment responsibility,” said Megaworld chief strategy officer Kevin Andrew Tan.
Indeed, much has already been achieved but Megaworld is taking stock of its stellar performance in recent past, building on them, improving and innovating further, future-proofing communities to leave a far deeper imprint and craft an even better legacy for the generations to come.
Priming iTownships of the future
His gameplan may sound simple enough, but it entails a far more complex and substantial responsibility being heaved on his lap.
For Kevin, the son of Megaworld founder and chairman Dr. Andrew L. Tan, the vision for a property giant that spearheaded many innovations over the last three decades is clear: that Megaworld continues to uplift lives, impact the society and help shape the nation wherever its townships are located.
“We will continue to focus on the development of our townships and our undeveloped properties across the Philippines in the years to come,” Kevin said when asked how he intends to continue his father’s legacy. “Much of our efforts will still be aimed at introducing more of our residential developments and investment properties, which cover Megaworld Lifestyle Malls, Megaworld Premier Offices, and Megaworld Hotels. Our existing land bank would be sufficient for the next 10 to 15 years of development.”
“More importantly, we will continue to embrace our purpose by fulfilling our company’s vision. This alone makes us very excited about our future,” added Kevin, who currently sits as the chief strategy officer for Megaworld.
Over the next five years up to 2024, Megaworld said it plans to invest a staggering P300 billion to scale up its developments and beef up its land bank across the country.
This massive capital spending will allow the company to further expand its townships and integrated lifestyle developments across teh country, while banking on the same passion, commitment and a culture of excellence and innovation that fueled the growth of the company over the last 30 years.
“I think what really helped drive us during the past three decades was our commitment to embrace technology and innovation in everything that we do. Having the ability to harness technology as a differentiator enabled us to enjoy a competitive edge, and that’s what we have been championing for the longest time now,” the younger Tan said in an interview.
Kevin cited as an example the iTownships program they launched last year with the goal of future-proofing townships and developments.
“By marrying together innovation, integration, internet, and interconnectivity, we have been able to create the townships of the future where communities can efficiently grow and thrive,” Kevin furhter noted.
“It’s been very intentional on our part to adopt technology and innovation because we believe we are in a distinct position to make a difference in the lives of Filipinos. At the end of the day, organizations like us are in the business of helping shape the nation by creating more progressive communities, and in all starts by empowering people and various economic sectors to grow too,” he concluded.
Posted July 1, 2019
Written by Amy R. Remo of Philippine Daily Inquirer
These expansive new developments to cover around 2,000 hectares in Luzon and Mindanao
SHAPING THE NATION. Megaworld continues to be among the main catalysts of nation building by adding 6 more of its signature townships by 2020.
Megaworld, the country’s largest developer of integrated urban townships and lifestyle communities, is set to launch six more townships this year until 2020. This will bring the company’s township portfolio to 30 by next year.
These new developments will cover an expansive land area of around 2,000 hectares. Most of these are from new land acquisitions carried by Megaworld Group’s land banking efforts during the last five years.
Five of these new expansive townships and lifestyle communities are in Luzon, while one is in Mindanao.
“Currently, we have a little over 4,000 hectares of both developed and developable land. By next year, we will increase our land ownership and land holding to more than 6,000 hectares as we continue to focus on our goal to expand to key growth areas in the provinces; help boost tourism, provide jobs, and further spur economic opportunities outside of Metro Manila,” reveals Kevin L. Tan, chief strategy officer.
From 24 in 2019 to 30 townships in 2020. Megaworld is building 5 more townships and integrated lifestyle communities in Luzon and one in Mindanao.
At present, Megaworld already has 24 townships and lifestyle communities spread across the country: Nine (9) in Metro Manila, which include Eastwood City, McKinley Hill, Forbes Town, McKinley West, Uptown Bonifacio, Newport City, Alabang West, Westside City, and Arcovia City; eight (8) in Luzon, which include Capital Town Pampanga, Eastland Heights, Twin Lakes, Southwoods City, Suntrust Ecotown, Maple Grove, Hamptons Caliraya, and Highland City; six (6) in the Visayas, which include The Mactan Newtown, Iloilo Business Park, Boracay Newcoast, The Upper East, Northill Gateway, and Sta. Barbara Heights; and one (1) in Mindanao, the Davao Park District.
The Megaworld Group is composed of mother company Megaworld Corporation and its subsidiaries Global-Estate Resorts, Inc. (GERI), Empire East Land Holdings, Inc. (EELHI), and Suntrust Properties, Inc.
Posted June 17,2019
First two towers of Park McKinley with sales inventory of almost P14-B sold out in less than a year
As property giant Megaworld experiences a spike in the demand for residential properties inside its 34.5-hectare McKinley West development in Fort Bonifacio, the company has launched a third tower for Park McKinley West, one of the residential condominium clusters in the township.
Standing 25-storeys high, the third tower of Park McKinley West offers spacious unit layouts ranging from one-bedroom (up to 70.5 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 (up to 336 square meters).
Designed by UK-based multi-awarded architectural firm Broadway Malyan, the third tower of Park McKinley West will have generous amenities that include a swimming pool with its own pool deck, children’s pool, game and entertainment room, yoga room, outdoor yoga deck, function halls, and a fitness center. The property will also have its own roof deck garden and a skygarden at the 15th level.
“The residential market in McKinley West is growing bigger. We sold out our first tower for Park McKinley West in just two months last year, and when we launched our second tower in July, it only took us only a few months again to sell it out. Today, prices of residential units in Park McKinley West rose to almost P265,000 per square meter compared to P218,000 per square meter when we first launched it a year ago,” explains Noli D. Hernandez, senior vice president for sales and marketing, Megaworld.
The tower’s ground level will also host to some retail stores and dining establishments, providing lifestyle convenience to future residents. The residential tower will also have its own three-level parking facility.
The company is expecting to generate around P8-billion in sales from this new tower alone. The project is expected for completion in 2024.
Park McKinley West is the third residential development launched in McKinley West, just beside the upscale community of Forbes Park and the Manila Polo Club.
The company is also building two upscale mid-rise residential developments in the township: St. Moritz Private Estate and The Albany.
The township is also home to the upscale McKinley West Village, a sprawling high-end residential village.
Posted June 3, 2019
MEGAWORLD Corp. expects to generate P3 billion in sales from its upscale residential project called The Albany Yorkshire Villa in McKinley West, Taguig.
In a statement issued over the weekend, the listed property developer said The Albany Yorkshire Villa will offer 64 suites sized from 121 to 133 square meters (sq.m.) for two-bedroom and three-bedroom units, respectively.
It will also have four-bedroom penthouse units spanning 349 sq.m. each, with three levels of space and its own infinity pool.
“The Albany caters to a niche market of highly-discerning privileged few who want to live in an exclusive community of affluent urban dwellers,” Megaworld Vice-President for Sales and Marketing Mary Rachelle I. Peñaflorida said in a statement.
Megaworld engaged United Kingdom-based architectural firm Broadway Malyan for the project. Broadway Malyan is also the designer of Century City Mall in Makati, as well as other luxury residential projects inside McKinley West.
The company also noted that each unit’s master bedroom will have custom-built walk-in closet and bathtubs. Units are accessible using keycards.
Amenities at The Albany Yorkshire Villa include an infinity pool, children’s pool, in-water lounge deck, pool deck, fitness center, spa, sauna room, kids’ playground, game and entertainment room, function rooms, and outdoor cabanas.
“We carefully planned the entire development to make it a class of its own in Metro Manila’s ultra-luxury residential market,” Ms. Peñaflorida said.
Megaworld expects to complete the project by 2023.
The property firm of tycoon Andrew L. Tan in 2014 said that it will spend P45 billion to develop McKinley West Village for a span of 10 years. The company is targeting the high-income customers for the township, capitalizing on its proximity to upscale residential village Forbes Park.
Megaworld grew its net income attributable to the parent by 16% to P3.8 billion in the first quarter of 2019, after consolidated revenues also surged 15% to P14.9 billion. The company benefited from strong sales from its residential segment and the expansion of its commercial leasing unit.
The company has committed to spend P65 billion in capital expenditures this year to support property development across its 23 townships. About 20% of the budget will also be used for land acquisitions and investment properties.
Megaworld is part of Mr. Tan’s holding firm Alliance Global Group, Inc., which also has core interests in liquor, gaming, quick-service restaurants, and infrastructure development.
By Arra B. Francia.
Posted May 20, 2019
The Albany’s Yorkshire Villa offers 64 suites within McKinley West’s rising ‘billionaire’s row’
Property giant Megaworld is expanding its luxury residential footprint inside the 34.5-hectare McKinley West with the launch of the The Albany Yorkshire Villa.
Located within the development’s ‘billionaire’s row’ beside the posh McKinley West Village, The Albany Yorkshire Villa offers 64 spacious suites ranging from 121-square meters for two-bedroom and 133-square meters for 3-bedroom. The exclusive 4-bedroom penthouse suites offer generous 349-square meters of three-level space with their own private infinity pool at its roofdeck.
All suites of The Albany Yorkshire Villa have private high-speed elevators that open directly to each unit’s foyer. Each residential suite can only be accessed using keycards, including the amenity deck and other facilities in the property.
“The Albany caters to a niche market of highly-discerning privileged few who want to live in an exclusive community of affluent urban dwellers. This isn’t a place to be seen, but a private abode where everything is still within easy reach,” says Rachelle Peñaflorida, vice president for sales and marketing, Megaworld.
Designed by UK-based award-winning architectural firm, Broadway Malyan, The Albany Yorkshire Villa will have its own infinity pool, children’s pool, in-water lounge deck and pool deck, fitness center, spa, sauna room, kids’ playground, game and entertainment room, function rooms, and outdoor cabanas.
All suites will have built-in appliances by Bosch, kitchen system by Leicht, kitchen appliances by Gaggenau and Bosch, toilet fixtures by Duravit’s Philippe Starck Collection, and bathroom fixtures by Hansgrohe Axor Starck and Grohe.
Each unit will also have a maid’s room with its own toilet and bath, and a powder room for guests. All master bedrooms will have custom-built walk-in closets and bathtubs.
“Each suite at The Albany is a curated expression of opulence and privacy. We carefully planned the entire development to make it a class of its own in Metro Manila’s ultra-luxury residential market,” adds Peñaflorida.
The Albany Yorkshire Villa will be completed in 2023. The company is expected to generate around P3-billion in sales from this new project.
Posted May 20, 2019
BCDA, Megaworld to jointly manage the 160-hectare district on the southern part of Fort Bonifacio
Property giant Megaworld and the Bases Conversion and Development Authority (BCDA) are teaming up in creating a new district in Fort Bonifacio, the BONIFACIO CAPITAL DISTRICT (BCD).
Covering the southern part of Fort Bonifacio towards South Luzon Expressway (SLEX) and the Ninoy Aquino International Airport (NAIA), the BONIFACIO CAPITAL DISTRICT has a total land area of around 160 hectares.
This covers Megaworld’s existing township developments, the 54.3-hectare McKinley Hill and the 34.5-hectare McKinley West; and BCDA-owned properties consisting of the 26-hectare Philippine Navy Village; the 33.1-hectare Bonifacio South Pointe property in partnership with the SM Group; the 10.1-hectare Consular property beside McKinley West; and a remaining one-hectare BCDA lot.
Envisioned to be the ‘country’s administrative capital,’ BONIFACIO CAPITAL DISTRICT will soon be home to the future buildings of some of the major government institutions.
“This marks the strong partnership of BCDA and Megaworld Corporation in building for progress. As a key locator in Fort Bonifacio, Megaworld has made positive impact in the lives of many Filipinos through its ‘live-work-play’ concept. We saw the realization of this concept in McKinley Hill which is integrated in the BONIFACIO CAPITAL DISTRICT. The district will soon house the country’s major institutions such as the Senate of the Philippines, the Supreme Court, and the Court of Appeals. These government institutions will be complemented with more office spaces, residential units, parks, and commercial establishments—which are all essential to our vision to create vibrant and livable communities for the people,” reveals Vince B. Dizon, president and CEO, BCDA.
Along with BCDA, Megaworld will create the Policy Review Board (PRB) which will have the exclusive jurisdiction to set policies and restrictions on the development of the BONIFACIO CAPITAL DISTRICT, and to ensure the proper execution of the district’s Master Development Plan and Vision.
Currently, development-based gross floor area (GFA) of existing and operational commercial, residential, office and institutional properties within the district is around 1.26-million square meters. Projected GFA of proposed mixed-use developments in undeveloped lots within the district, on the other hand, is around 2.1-million square meters. These new developments are expected to be completed in the next 10 years.
The BONIFACIO CAPITAL DISTRICT will have Lawton Avenue as its main road, with direct access points towards Bonifacio Global City (BGC) via Lawton-Fifth Avenue connection; Makati CBD and EDSA via McKinley Road and Chino Roces Avenue Extension; South Luzon Expressway and NAIA Expressway via southern portion of Lawton Avenue; and C5 Road via Bayani Road and Upper McKinley Road inside McKinley Hill.
Rendering support for BONIFACIO CAPITAL DISTRICT is BCDA’s Bonifacio South Main Boulevard, which is located inside the District. This six-lane road will provide alternate access from NAIA and Bonifacio Global City, to decongest Lawton Avenue. The road will also have bicycle lanes on opposite sides. A linear park that will traverse the boulevard will further promote a livable green environment within the district benefitting residents and workers.
By 2025, the district will be a location of one of the proposed stations of the ongoing Metro Manila Subway Project, initially named as Lawton East Station.
“In the next five years, after completing the road developments, utilities network and the subway project, we will be focused on traffic management, which includes development of bike lanes and pedestrian networks as well as deployment of traffic marshals. We will also improve landscaping along the district’s major roads and designing the entire district with urban art installations. On security management, we will also expand the CCTV monitoring to cover all areas of the district, which will then be incorporated into our Central Command Center inside McKinley Hill,” says Kevin L. Tan, chief executive officer, Alliance Global Group, the mother company of Megaworld.
Based on the district’s original masterplan by Parsons Brinckerhoff, at least 15% of the entire area will be dedicated to recreation, green and open spaces, on top of the mandatory open space easement required to each locator.
Posted March 14, 2019
Megaworld, the country’s leading developer of integrated urban townships, is allocating P65-billion in capital spending this year, mainly for residential, office and mall projects across its township developments as well as for land acquisition and investment properties.
Eighty percent (80%) of the capital expenditures (CAPEX) will be allocated for property developments across the company’s 23 townships across the country, while the remaining twenty percent (20%) will be used for land acquisition and investment properties.
“We are ramping up our residential properties in our portfolio this year as we have seen a remarkable spike in residential demand across our townships, both in Metro Manila and in the provinces. Likewise, we remain focused on cementing our leadership in the office category by launching more office spaces, and we are looking into opening more lifestyle malls as we keep track of our goal towards P20-billion in rental revenues by next year,” says Kevin L. Tan, EVP and chief strategy officer, Megaworld.
Megaworld is set to launch 28 new residential towers this year in its townships in key regional centers, particularly in The Mactan Newtown in Lapu-Lapu, Cebu; The Upper East in Bacolod; Iloilo Business Park in Mandurriao, Iloilo; Capital Town in the City of San Fernando, Pampanga; Maple Grove in General Trias, Cavite; Southwoods City in Biñan, Laguna; Boracay Newcoast in Boracay Island, Aklan; Twin Lakes in Batangas near Tagaytay; and Eastland Heights in Antipolo, Rizal; as well as in various parts of Metro Manila, particularly in Westside City in Parañaque City, McKinley Hill and McKinley West in Fort Bonifacio, Arcovia City in Pasig City, and Manhattan Garden City in Quezon City. These projects will generate around P90-billion in residential sales.
The company is also expected to start the construction of five new office projects and complete some ongoing mall and commercial properties across the country.
Five new office towers are expected to start construction in Uptown Bonifacio, Capital Town in San Fernando, Pampanga, and Westside City in Parañaque City, covering around 116,000 square meters in gross leasable spaces.
Another five new office towers, on the other hand, are expected to be completed within the year in Uptown Bonifacio, Iloilo Business Park, Arcovia City and Pampanga, with total gross leasable area of around 189,000 square meters.
Five commercial properties, on the other hand, are expected to be completed within the year in McKinley Hill in Fort Bonifacio, Arcovia City in Pasig City, and Davao Park District in Davao City. These will give an additional 9,000 square meters of gross leasable spaces in our commercial retail portfolio.
“On our rental portfolio, we are allocating most of our CAPEX in the completion of new office and lifestyle mall developments across our townships,” adds Tan.
By end-2019, Megaworld’s leasable properties are expected to climb to 2.14-million square meters, with office properties accounting for almost 60-percent.
Posted January 29, 2019
The P10-B Uptown Arts Residence to rise beside the proposed Skytrain & Mega Manila Subway; just a walking distance from Uptown Mall and Uptown Parade
Property giant Megaworld is building its fourth residential condominium development in its 15.4-hectare Uptown Bonifacio township in the northern part of Fort Bonifacio near Kalayaan Avenue.
The 45-storey Uptown Arts Residence will offer an additional 452 residential units in the bustling Megaworld township that is fast-rising to be Fort Bonifacio’s center for nightlife and entertainment.
Residential units range from studio (up to 41.5 square meters); one-bedroom (up to 66 square meters); one-bedroom loft (up to 117 square meters); two-bedroom (up to 98.5 square meters); three-bedroom (up to 125 square meters); and three-bedroom loft (up to 168 square meters). All units have balconies while those in the amenity deck have their own spacious lanai.
Executive and loft-type one-bedroom, two-bedroom and three-bedroom units will all have maid’s rooms with own toilets. All three-bedroom units will have bath tubs in their master bedrooms.
The tower’s main lobby and amenity floor will offer FREE Wifi access to its residents and guests.
Rising along 9th Avenue near Uptown Mall and Uptown Parade, Uptown Arts Residence will be strategically located beside the proposed Skytrain Uptown Station, a monorail project of Infracorp to connect Fort Bonifacio to MRT Guadalupe Station in Makati City. It will also be just a few blocks away from the Kalayaan Station of the proposed Mega Manila Subway project.
It will also have the easiest access to Kalayaan Avenue towards EDSA and C5. It is also just a few blocks away from the bridge that is currently being constructed over Pasig River that will link Fort Bonifacio to Ortigas. Once completed, travel time from Uptown Bonifacio to Ortigas will only take less than 10 minutes.
“Aside from the generous range of unit choices and amenities, Uptown Arts Residence boasts of its strategic location in the entire Fort Bonifacio. It has the fastest access to the new transport infrastructure projects, and it stands right next to Uptown’s own array of dining, shopping and entertainment establishments,” says Noli D. Hernandez, senior vice president for sales and marketing, Megaworld.
Uptown Arts Residence’s amenities include an infinity pool with its own pool deck, outdoor lounge, daycare and children’s play area, fitness center and function room.
The residential project also offers nine levels of parking, in multiple basement and podium floors.
The tower is expected to be completed in 2024. Megaworld expects to generate P10-billion sales from this new residential project.
Uptown Bonifacio, one of the four Megaworld townships in Fort Bonifacio, has won the Best Township Architectural Design in the 2018 Philippine Property Awards. It is also home to three award-winning residential condominium projects, namely: One Uptown Residence (Best Residential Architectural Design, 2017 Philippine Property Awards); Uptown Ritz (Best Residential Architectural Design, 2016 Philippine Property Awards); and Uptown Parksuites (Highly Commended for Best Residential Architectural Design, 2016 Philippine Property Awards).
The 15.4-hectare township is also home to Alliance Global Tower, the corporate headquarters of Megaworld.
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.