Megaworld pouring in P10 B for Cavite township
By Iris Gonzales
MANILA, Philippines – Megaworld Corp. is pouring in P10 billion to develop its 21st township in a 140-hectare property in Gen. Trias, Cavite.
The project, dubbed Maple Grove, will be a mixed used development, said Megaworld senior vice president Jericho Go.
Megaworld said the money would be invested over a 10-year period.
Just 45 minutes away from Makati and other Metro Manila CBDs via Coastal Road and Cavitex, Maple Grove is at the entry point of the booming industrial and residential center of the Cavite- Batangas corridor, Go said.
“In the last 27 years, we have built townships that cater to the evolving lifestyles of Filipinos. As we continue to expand our township footprint in key growth areas across the country, innovation and design will be a significant factor in our masterplans,” he added.
The township will have an eclectic mix of residential, retail, office and institutional components.
“An integral part of the township’s masterplan will be on sustainability and environmental responsibility. We hope to see our future stakeholders in Maple Grove live, work and play in a smart and green community,” said Go.
The latest project marks Megaworld’s fourth integrated urban township development in the booming Cavite-Batangas growth area. The company has over 2,000 hectares of land in this corridor alone.
Furthermore, through its subsidiary Global-Estate Resorts, Inc. (GERI), Megaworld is also developing Twin Lakes, a 1,300-hectare integrated tourism estate development near Tagaytay; and Southwoods City, a 561-hectare township that is surrounded by its own golf course in the boundaries of Cavite and Laguna.
Wholly-owned unit Suntrust Properties is also building a 350-hectare Suntrust Ecotown.
“The trajectory for growth in that area south of Manila is unprecedented in the last 10 years, and we see a lot more opportunities in the real estate sector in this corridor,” Go said.
To date, Megaworld has 20 integrated urban township developments across the Philippines.
These are Eastwood City in Quezon City, (18.5 hectares); Newport City in Pasay City (25 hectares); McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town Center (five hectares), all in Fort Bonifacio; The Mactan Newtown in Cebu (28.8 hectares); Iloilo Business Park (72 hectares) and Sta. Barbara Heights (173 hectares), both in Iloilo; Boracay Newcoast in Boracay Island (150 hectares); Twin Lakes in Tagaytay (1,300 hectares); ArcoVia City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Piñas City (62 hectares); Suntrust Ecotown in Tanza, Cavite (350 hectares) and The Upper East (34 hectares) and Northill Gateway (50 hectares) both in Negros Occidental; a vast property beside the Pampanga Provincial Capitol in the City of San Fernando (35.6-hectares); and Westside City in the Entertainment City in Parañaque (31 hectares).
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