Megaworld allots P35 B for new township project

MANILA, Philippines — Megaworld Corp., the listed property giant of tycoon Andrew Tan, is ramping up development in its Arcovia City along C-5 with a P35 billion funding to develop the sprawling estate in a span of 10 years.

A unique feature of the township is Megaworld’s Arco de Emperador, an iconic arch monument that is envisioned to put the Philippines in the global map of countries with similar structures, officials said.

“Arcovia is a 12.3-hectare development. We’re developing into a mixed use development and we’re excited because it’s a place where young people can get inspiration that everyone can be an emperador, that they can actually achieve their dreams in life,” Arcovia City first vice president for marketing John Natividad told The STAR last week.

He said the township would have a mix of residential, commercial and retail concepts.

“We already have Landers and Starbucks and soon there will be more retail and dining options and there will be a mall in the future. We will also introduce a new residential development, 18 Avenue de Triomphe, catering to young families and achievers,” Natividad said.

The 37-storey residential development will have 576 residential units ranging from studio (up to 32.5 square meters); one-bedroom (up to 63 square meters); two-bedroom (up to 110.5 square meters); and three-bedroom (up to 154 square meters).

The 18 Avenue de Triomphe project will be completed in 2023 with total projected sales expected to reach P4-billion.

The difference of the township is mainly its centerpiece, the monument which is considered to be a major landmark, Natividad said.

The monument was crafted by Spanish sculptor Gines Serran Pagan. It is touted to be at par with Madrid’s Arco de la Victoria and Paris’ Arc de Triomphe.

Megaworld chief strategy officer Kevin Tan said Arco de Emperador is really a testament to Filipinos’ potential for greatness and success.

The arch monument will also be highlighted by cascading waterfalls leading to the water feature at the basement area where the future museum will be built. It will also be surrounded by a landscaped plaza with benches.

“We have crafted this as a tourism landmark in Metro Manila,” Tan said.

In all, Tan said Arcovia City seeks to ignite the passion of the young generation to commit themselves to work hard and to nurture their passions.

Natividad said C-5 is also in a strategic location as C-5 is now considered the newest corridor of business and power with many developers expanding in the area. It is near major business districts such as Ortigas, Greenhills and Fort Bonifacio in Taguig.

The township is also in close proximity to schools.

“We are targeting the millennials and those who appreciate this kind of living, which is self contained,” Natividad said.