Megaworld pouring in P35 billion for Arcovia City

MANILA, Philippines — Megaworld Corp., the Andrew Tan-led developer of integrated urban townships, is pouring in P35 billion to ramp up development within the 12.3-hectare Arcovia City along C-5 in Pasig City.

The investment will be used to develop the township until 2025.

Developments in the township include its first residential tower, an office tower and a lifestyle mall.

Megaworld is simultaneously constructing its first office tower, the 17-story One Paseo which will offer 23,000 square meters of leasable office spaces and a lifestyle mall that will have its own walk parks, viewing deck and leisure facilities.

The centerpiece of the township will be the Arco de Emperador, a 62-feet high arch monument inspired by the Arco de la Victoria of Madrid.

Megaworld senior vice president Kevin Tan said the vision is to create an inspiring township.

“Our vision for this new township is to inspire the young generation to persevere and work harder to attain their own successes and victories in life. There is a deeper story embedded into this development, and we will tell that story through the installations and attractions around the township,” said Tan, Andrew’s eldest son.

Megaworld tapped Spanish sculptor Gines Serran Pagan to design the monument which has bronze statues of three horses, two lions, two trumpeting angels and the Emperor on a chariot.

Tan said the statues dramatically symbolize power, strength, passion, and self-made success. The ground level of the monument will house a museum, which will become another major attraction of the township.

To make the township even more livable, Megaworld is growing 1,000 Narra trees to serve as natural shade.

The township’s first residential  project is the 37-story 18 Avenue de Triomphe, which will have 576 residential units.

The size of the units range from studio or up to 32.5 square meters, one-bedroom of up to 63 sqm, two-bedroom of up to 110.5 sqm, and three-bedroom of up to 154 sqm.

All units have their own balconies, overlooking Eastwood, Ortigas and Fort Bonifacio cityscapes as well as the Antipolo mountains.

The 18 Avenue de Triomphe will be completed in 2023. Total projected sales for this residential project is expected to reach P4 billion.