Makati–(PHStocks)–Megaworld Corporation (PSE: MEG), the country’s number one residential condominium developer, will start investing P45 billion over the next 20 years in a 15-hectare integrated township district called Uptown Bonifacio in Bonifacio Global City, Taguig City.
The predominantly mixed-use Uptown Bonifacio is located in the northern district of Fort Bonifacio extending all the way to Kalayaan Avenue, and is near the British, Japanese and American international schools.
“Uptown Bonifacio, designed to be the country’s newest business district, will take Megaworld’s live-work-play lifestyle to new heights,” said Noli Hernandez, Senior Vice President for Marketing.
Uptown Bonifacio will feature up to 18 towers, offering a total potential development of 500,000 square meters of residential space, 400,000 square meters of office space and 90,000 square meters of retail space.
The construction of the 45-story One Uptown Residence, the community’s first residential offering, is valued at P7.5 billion.
“We’re not just selling an ordinary condominium unit to our buyers. We’re giving them the opportunity to own a lifestyle that is both luxurious and convenient,” said Mr. Hernandez.
Residents also enjoy instant access to a luxury malling experience through One Uptown Residence’s basement retail strip, which serves as a connecting walkway to the three-level 33,000 square meters Uptown Place next door.
Aside from retail attractions, Uptown Bonifacio also hosts a four-tower 140,000 square meters, P12 billion corporate block along Megaworld Avenue, its main avenue.
Megaworld’s upcoming CBD development in Taguig will be constructed under the BERDE (Building for Ecologically Responsive Design Excellence) rating system. These office buildings will showcase cutting-edge architecture; double-glaze glass walls, sky gardens and a lagoon.
“We will continue our best efforts to ramp up the construction of our next generation “green” office developments in Uptown Bonifacio that will help generate at least 80,000 new jobs in the area.” said Jericho Go, First Vice President for Business Development & Leasing Division.
Megaworld’s continued leadership in the residential condominium market has been cited recently by international real estate services firms CB Richard Ellis and Colliers International based on the number of residential units completed and to be completed until 2016 and the total aggregate saleable area.