Megaworld, private locators to infuse P60B into McKinley

Megaworld Corp., along with other locators, will be pouring in roughly P60 billion in investments to the 50-hectare Mc Kinley Hill development project in Fort Bonifacio. Andrew Tan, Megaworld Chairman and CEO, on Thursday said that in the next five to seven years, investors, commercial locators, educational institutions, and embassies will pump in P10 billion for the commercial aspect, P20 billion for the residential component, and P30 billion for the office spaces of McKinley Hill. Megaworld alone, Tan said, will be putting in P12 billion for the construction of business process outsourcing (BPO) offices, P3 billion for the retail and mall sections, and P18 billion for the residential component of McKinley Hill up to 2014. Tan said the McKinley Hill is the company’s biggest new township project to date. The development consists of single detached homes in McKinley Hill Village, townhouses, a mid-rise condominium called McKinley Hill Garden Villas, BPO offices, high-rise luxury residences, embassies, a college, international schools, a mall, sports amenities, an events venue, and a hotel. “Considered the most integrated new township development in the Philippines, McKinley Hill follows on the heels of Megaworld’s highly successful satellite city, Eastwood, the country’s first information technology (IT) economic zone," Tan said in a statement sent to the media. With 30,000 square meters of office space, the Philippine Economic Zone Authority has classified the development as an IT ecozone.-GMANews.TV