Makati will soon have its 20th Megaworld residential tower, while Iloilo is set to have a modern financial center courtesy of the property giant.
Iloilo Business Park
Property giant Megaworld announced major expansions that will strengthen their presence in the Makati Central Business District (CBD) and in Iloilo.
Makati CBD will be the site of property giant Megaworld’s 20th residential project in the city. The latest addition, San Antonio Residence, is a 40-storey condo that will rise along Sen. Gil Puyat Avenue and will be close to Ayala Avenue.
“In Makati, location is always key. The demand is on the prime location which is the center of the CBD or within the area around the CBD,” Megaworld Makati CBD Group VP for sales and marketing Eugene Em Lozano said.
San Antonio Residence will comprise 848 units ranging from studio to three-bedroom. Amenities will include a Parent-Kid BOND (begin, open, nurture, and discover) open area, swimming pools and pool deck, dance studio, fitness center and park, outdoor seating area, and function rooms.
Megaworld is targeting a completion date of 2020 for their latest venture, which is projected to bring in sales of around Php 2.1 billion. San Antonio Residence is part of the brand’s plan to increase their property developments to more than 30 buildings by 2016.
The last two years saw the launch of three Megaworld projects. Paseo Heights, Salcedo SkySuites, and Greenbelt Hamilton Tower 1 reportedly sold out in less than six months. Greenbelt Hamilton Tower 2 and Three Central are said to be nearly sold out.
“The fast take-up of our residential towers in Makati CBD is a clear indication that there is a continuing demand for condominium units in this city. While Megaworld continues to expand its township portfolio across the country, the company remains bullish in Makati CBD as it is already an established, stable, and strong market for our residential offerings,” Lozano noted.
Meanwhile, Megaworld’s financial center, the 72-hectare Iloilo Business Park, is also being prepped for changes as the company ramps up the development of the area’s financial center.
According to Megaworld, nine hectares of the park is allocated for the commercial district, and 80% has already been sold to banks, financial institutions, and local enterprises.
“There has been a strong interest from various sectors, particularly financial and banking, to establish their businesses in Iloilo Business Park. Since we announced the township being envisioned as Iloilo City’s new central business district or CBD, everyone wants their presence here,” Iloilo Business Park marketing head Jennifer Palmares-Fong explained.
Although the finance industry has expressed strong interest in the area, Palmares-Fong pointed out that the park is also a viable location for car and furniture showrooms, as well as corporate regional headquarters.
Megaworld plans to turn The Iloilo Business Park into Western Visayas’ biggest business, lifestyle, and tourism hub. It will host two hotels – Richmonde Hotel Iloilo and Courtyard by Marriott – as well as the Iloilo Convention Center, set to be the largest convention facility in the region. The Palladium, which will be the tallest residential tower in Western Visayas will also rise in the area, along with other residential condominiums and BPO office towers. A dining and retail strip called The Street of Festive Walk will be built in the park and will be the longest of its kind in the region as well.
Images courtesy of the Megaworld Corporation official website