Megaworld to Build New Residential Tower in Makati

Makati—(PHStocks)—Megaworld Corp. (PSE: MEG) is further expanding its presence in the Makati Central Business District (CBD) as it launches its 20th residential tower in the country’s premier financial district.

To be named San Antonio Residence, the 40‐storey residential tower will rise along Sen. Gil Puyat Avenue (formerly Buendia Avenue) and in close proximity to Ayala Avenue in Makati City.

San Antonio Residence will have 848 units ranging from studio (25 sqm) to three-bedroom (93 sqm). Its family‐oriented lifestyle amenities include Parent‐Kid B.O.N.D. (Begin, Open, Nurture and Discover) open area, swimming pool, children’s pool, pool deck, dance studio, fitness center, street fitness park, outdoor seating area and function rooms.

This residential tower is scheduled for completion in 2020 with projected sales of around PhP2.1‐billion.

“The fast take‐up of our residential towers in Makati CBD is a clear indication that there is a continuing demand for condominium units in this city. While Megaworld continues to expand its township portfolio across the country, the company remains bullish in Makati CBD as it is already an established, stable, and strong market for our residential offerings,” says Eugene Em Lozano, vice president for sales and marketing, Makati CBD Group, Megaworld.

Three new high‐rise residential projects in Makati CBD that were launched in the last two years, the 30‐storey Paseo Heights, the 31‐storey Salcedo SkySuites and the 31‐storey Greenbelt Hamilton Tower 1, have been sold out in less than six months. The 32‐storey Greenbelt Hamilton Tower 2 and Three Central, on the other hand, are already almost sold out.

“In Makati, location is always key. The demand is on the prime location which is the center of the CBD or within the area around the CBD,” explains Lozano.

Last year, Megaworld announced its plan to increase its portfolio of property developments, specifically residential and office towers, in the Makati CBD to more than 30 buildings by 2016.

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