Megaworld eyes P10-B sales from 2 Taguig luxury condos

MANILA, Philippines - Megaworld Corp. expects to generate P10 billion worth of sales from its luxury condominium projects One Uptown Residence and Uptown Ritz in Taguig City.

“All in all for both residential towers, we expect sales of P10 billion,” Noli D. Hernandez, Megaworld senior vice president for sales and marketing said in a briefing yesterday.

The 45-story One Uptown Residence which offers one to three bedroom units, is expected to be completed by July 2016.

The all-suites, 45-story high Uptown Ritz building meanwhile, will be finished by June 2017.

The two condominium projects are located in the 15-hectare Uptown Bonifacio Township.

Apart from the two residential projects, an uptown scale mall and five corporate office towers are also being developed in the township.

The Uptown Place Mall, which is composed of five storeys and six basement floors and has a total floor area of 47,962 square meters, is expected to open by 2016.

The mall will serve both retail stores and offices.

“For retail, mostly it will be luxury brands,” Hernandez said.

He said the five office buildings would include the 25-story Alliance Global Tower which would serve as the future headquarters of Andrew L. Tan’s Alliance Global, Inc.

He also said the office buildings would serve both business process outsourcing firms and other corporate offices.

“You can expect we can have more (office buildings) in the course of 10 years,” he added.

Aside from Uptown Bonifacio, Megaworld’s three other townships in Taguig City are the 50-hectare McKinley Hill, the 34.5-hectare McKinley West, and five-hectare Forbes Town Center.