‘Galleon Victoria’ inspired Megaworld launches new tower project in Newtown

CEBU, Philippines — Property giant Megaworld Corporation yesterday announced the building of the fourth residential tower in Mactan Newtown.

Megaworld Cebu Properties Inc., President Noli Hernandez unveiled the 181-unit, 20-storey tower in the 30-hectare masterplanned township.

Called La Victoria Global Residences, this newest residential offering Hernandez said will play a vital role in magnifying the historical significance of “Galleon Victoria”, the ship that brought Ferdinand Magellan to the island of Cebu in 1521.

“We launched this tower 500 years after Magellan was appointed captain of Galleon Victoria’s expedition and we hope to complete this project in 2022 when we commemorate the ship’s 500th year of circumnavigation,” said Hernandez during the formal press introduction of the La Victoria Global Residences yesterday.

Few years after it was formally launched, the Mactan Newtown is now home to several Business Process Outsourcing (BPO) firms, Newtown School of Excellence, commercial establishments and existing 1,305 residential condominium units. It is Megaworld’s first and only township that has its own beachfront.

It will also open two hotels soon, Hernandez added.

“In the next five to seven years, more developments will be introduced,” he said.

The company is bullish about Cebu’s long term economic vigor, fueled by the tremendous potential of the province tourism.

At present, Hernandez reported that residential units at Mactan Newtown are also acquired by foreign nationals as well as a growing number of retirees.

In 2011, the company launched its first residential development, 8 Newtown Boulevard. The following year, it launched the One Pacific Residences, followed by One Manchester Place, its third residential tower launched in 2016.