Megaworld to launch new high-end project in McKinley Hill

MANILA, Philippines - Listed developer Megaworld Corporation is expecting to generate multi-billion peso in revenues from its fifth high-end residential condominium enclave in McKinley Hill, Fort Bonifacio - The Venice Luxury Residences. In a statement, the company said the project, which will be built on a 2.1-hectare site within the 50-hectare McKinley Hill, is expected to earn sales amounting to P12.5 billion. McKinley Hill is Megaworld’s largest township project. The construction of The Venice, which will have seven towers, is set to begin in 2009 and is scheduled to be completed in the next five to seven years. Megaworld said The Venice is inspired by the architecture and waterways of the Italian City from which it was named after. The Venice is composed of seven residential towers, the first of which is Allesandro, followed by Bellini, Caruso, Domenico, Emanuele, Fiorenzo and Giovanni. The company said it consulted the Italian architectural firm Paolo Marioni Architetto of Rome to make sure that The Venice remains true to its origins and inspiration. Average unit prices for the 31-storey The Venice are as follows: P3.6 million for a 40.3-square meter studio, P6M for a 66.4-sqm 1-bedroom, P9.5M for a 102.6-sqm 2-bedroom and P11M for a 3-bedroom at 119.5sqm. All units feature balconies. This new project follows the soon to be completed McKinley Hill Garden Villas Phase 1 and 2 and McKinley Hill Tuscany Private Estate. Other Megaworld residential condominium projects in McKinley Hill include the three towers of Stamford Executive Residences and Morgan Executive Suites. GMANews.tv