Megaworld expanding residential footprint in McKinley West

MANILA, Philippines — Megaworld Corp., the Andrew Tan-led property developer, is expanding its residential footprint in its 34.5-hectare McKinley West Development in Fort Bonifacio in Taguig.

The company has launched its third tower for Park McKinley West, one of the residential condominium clusters in the township amid strong demand.

Standing 25-storys high, the third tower of Park McKinley West offers spacious unit layouts.

Noli Hernandez, Megaworld senior vice president for sales and marketing said the residential market in McKinley is growing fast.

“We sold out our first tower for Park McKinley West in just two months last year and when we launched our second tower in July, it only took us a few months to sell it out,” Hernandez said.

He said prices of residential units in Park McKinley West rose to almost P265,000 per square meters (sqm) compared to P218,000 per sqm when it was first launched a year ago.

The units in the third tower range from one-bedroom (up to 70.5 sqm); two-bedroom (up to 110 sqm); three-bedroom (up to 212 sqm); four-bedroom (up to 229 sqm); and five-bedroom (up to 336 sqm).

Designed by United Kingdom-based multi-awarded architectural firm Broadway Malyan, the third tower of Park McKinley West will have amenities that include a swimming pool with its own pool deck, children’s pool, game and entertainment room, yoga room, outdoor yoga deck, function halls, and a fitness center.

The property will also have its own roof deck garden and a sky garden at the 15th level.

There will also be a number of retail stores and dining establishments.

The residential tower will also have its own three-level parking facility.

Megaworld expects to generate around P8-billion in sales from this new tower alone, which is targeted for completion in 2024.

Park McKinley West is the third residential development launched in McKinley West.

Other developments include two upscale mid-rise residential developments in the township namely the St. Moritz Private Estate and The Albany.

The township is also home to the upscale McKinley West Village residential village.

In the first quarter of the year, Megaworld reported a first quarter net attributable income of P3.8 billion, up 16 percent compared to the P3.3 billion posted a year ago.

The strong performance of its core businesses such as residential sales, leasing from offices and lifestyle malls and hotel operations all contributed to the company’s double digit growth.

In terms of revenue, Megaworld raked in P14.9 billion during the quarter, up 15 percent compared to the P13 billion posted a year ago.