Megaworld and its subsidiaries will be developing townships that will cover about 400 hectares.
Megaworld recently unveiled plans to increase their townships by adding 5 new live-work-play communities within the year: two in Luzon, two in Visayas and one in Mindanao. These townships, according to Megaworld, will have a total land area of 400 hectares and will be developed under their brand as well as those of subsidiaries Suntrust Properties, Inc.; Empire East Land Holdings, Inc.; and Global-Estate Resorts, Inc. (GERI).
Megaworld chairman and CEO Andrew Tan said in a statement: “With our adequate land bank and landholdings, the Megaworld Group is growing its townships to even more cities all over the Philippines. This means, more exciting destinations, more homes to be built, more office buildings to be offered and more jobs for Filipinos."
The addition of these five townships will bring Megaworld’s count to 20. By the end of 2015, this will also bring their total township land area to 3,100 hectares.
“Our vision is to build more world-class townships in every major city in the Philippines year after year. We still have more lands to develop in our portfolio. Our various groups are working hard to come up with unique concepts and ideas on how we will create more sustainable communities across the country,” Tan added.
Currently, Megaworld’s townships include Eastwood City (Quezon City), Newport City (Pasay City), and McKinley Hill (Taguig City). Under GERI are Southwoods City (Laguna and Cavite) and Alabang West (Las Piñas City). Last year saw the launch of Suntrust Ecotown in Tanza, Cavite.