Megaworld eyes 30 townships across PHL in next two years

Listed property developer Megaworld Corp. eyes as much as 30 townships across the country in the next two years, as it unveiled on Monday its 24th township in Cainta, Rizal, which will cost some P20 billion.

"We do have plans of launching more townships this year. I really think we can take it up to 30 townships in the next two years," Megaworld Executive Vice President Kevin Tan told reporters in a press conference in Quezon City.

This comes as Megaworld, along with its subsidiary Empire East Land Holdings Inc., unveiled its 24th township — Highland City — a 24-hectare development in Cainta with construction expected to begin by the second quarter of the year.

"Empire East will develop around 38 residential towers on the elevated portion of the township. These towers will serve as a dramatic backdrop to the vision of 'Highland City'," Tan said, noting that each tower is expected to have 300 to 500 units each.

"Our proposed Highland Mall under the Megaworld Lifestyle Mall brand will also be a centerpiece of the development. We will integrate it with an expansive park that opens towards the township's main entrance," he added.

Highland Mall will have around 58,000 square meters of retail spaces, rows of residential towers on a highland area, mixed-use towers, a church, and open and green parks.

Some 40 percent of the development is said to be dedicated to green and open spaces, with internal roads at least four lanes, aside from the six-lane main road. —KBK, GMA News