At least 12 mixed-use projects in 10 years Megaworld spending P180 B for new townships

MANILA, Philippines - Property developer Megaworld Corp. is pouring in P180 billion to develop at least 12 townships in the next 10 years as it rides on the continued economic growth outside Metro Manila.

Megaworld executive director Kingson Sian said the company expects growth to continue under the administration of president-elect Rodrigo Duterte.

“The economic agenda (of the incoming administration) seems that they are going to sustain what’s been done so far, so that’s very positive. The eight-point agenda bodes well for our sector and would attract FDIs and would push development in rural areas. We’ve committed P180 billion to just focus on developments in the provinces,” Sian said during the company’s annual stockholders meeting yesterday.

These townships, pioneered by Megaworld, are mixed-use developments with residential, office and commercial spaces. The 12 provincial townships are the Iloilo Business Park in Mandurriao, Iloilo City; The Mactan Newtown in Lapu-Lapu City, Cebu; Davao Park District in Lanang, Davao City; Northill Gateway in Talisay City, Negros Occidental; The Upper East in Bacolod City; The Capital in San Fernando, Pampanga; Twin Lakes in Alfonso, Batangas near Tagaytay; Southwoods City in the boundaries of Cavite and Laguna; Suntrust Ecotown in Tanza, Cavite; Sta. Barbara Heights in Sta. Barbara, Iloilo; Boracay Newcoast in Boracay Island; and Maple Grove in Gen. Trias, Cavite.

 “We are further spreading our nation-building efforts, particularly in developing idle lands into bustling business and lifestyle districts, to the key cities and towns across the country where economic opportunities abound,” Sian said.

In Davao alone, dubbed as the new seat of power, Sian said the company is willing to expand more if the opportunity arises.

Megaworld has already launched 21 integrated urban townships across the country covering around 3,061 hectares in land area. Of the total number, 12 townships are in the provinces covering 2,807 hectares. The remaining nine townships are in Metro Manila spanning 254 hectares.

Of the 12 townships, seven are already partially operational while the remaining four, namely Northill Gateway

(Negros Occidental), The Upper East (Bacolod City), The Capital (Pampanga) and Maple Grove (Cavite), are lined up for development within the next three years.

“Those partially operational are the townships that have opened some of its components while some of the residential, office, commercial, institutional and leisure components are still under construction. Maturity of townships usually take 10 to 15 years, depending on the size and components,” Sian said.

These townships are being developed in prime areas acquired by Megaworld during the past two decades.

At present, it has a current footprint of over 4,000 hectares throughout strategic areas in the main regions of the country.

 “So far, we have utilized a little over 3,000 hectares of our land bank for our township developments. This means, we still have around 1,000 hectares of land to develop and we are excited to do that in the years to come,” Sian said.