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January 30, 2015

Megaworld starts work on second condo tower in maiden Davao project



By: Euan Paulo C. AƱonuevo, InterAksyon.com
Published on January 29, 2015 1:22 PM



MANILA, Philippines
— Megaworld Corporation has ramped up its exposure in Mindanao with a second tower launched at the company's maiden project in Davao.

In a statement, the flagship property firm of billionaire Andrew Tan said its subsidiary Suntrust Properties Inc. will pursue the development of a second tower after its first tower in One Lakeshore Drive was nearly sold out two months after selling began.

The company expects at least P2 billion in sales this year from the project located on the 11.2-hectare Davao Park District.

One Lakeshore Drive is a four-tower residential condominium cluster that will rise at the center of the township, right at the corner of Megaworld Avenue and Lakeshore Drive.

The project is beside a one-hectare man-made lake surrounded by lush greeneries and its own leisure and recreational facilities.

Aside from the lake, residents will also enjoy the breathtaking views of Samal Island, Mt. Apo and Davao Gulf.

Each tower will be 21-storey high, offering studio (up to 27 square meters), executive studio (up to 40 square meters), one-bedroom (up to 50 square meters), and two-bedroom units (76 square meters).

One Lakeshore Drive will have an exclusive third-level amenity deck that features a 20-meter infinity pool overlooking the lake, wood deck pool area, wet lounge, kiddie pool, outdoor fitness station, gazebo, children's playground and pocket gardens. Other amenities such as the business center, day care center, function rooms, indoor fitness gym will be at the ground level, where a commercial area will also rise.

Suntrust also partnered with PLDT HOME, a leading multimedia solutions provider, to provide every resident with connectivity through Fibr, Telpad, and DSL services.

"Our partnership with PLDT HOME makes One Lakeshore Drive a modern, high-tech and future-ready residential property. Fiber-optic cables will be installed in each tower, bringing a new level of township lifestyle to our future residents. With this, installing home facilities for internet, cable TV, and CCTV cameras will be convenient and hassle-free," said Harrison M. Paltongan, Suntrust president.

Davao Park District is Megaworld's first township development in Mindanao. What used to be the Lanang Golf and Country Club, Davao Park District is envisioned to be Davao City's central business district and a major center for information technology and business process outsourcing in Mindanao.

Megaworld is allocating P15 billion in the next five to seven years to build and develop Davao Park District. Last year, it also announced the construction of its P1.2-billion Davao Finance Center that is envisioned to be Davao's iconic business tower, generating around 8,000 jobs.

Aside from office and residential towers, the township will also have its own commercial and retail strips as well as educational and medical institutions.

Davao Park District is one of Megaworld's 15 townships in the Philippines.

In 1999, the company introduced its first township, the 18.5-hectare Eastwood City in Libis, Quezon City, known to be the country's first cyberpark that saw the birth of the BPO industry in the Philippines.

Other successful townships developed by Megaworld include the following:

  1. 50-hectare McKinley Hill in Fort Bonifacio,
  2. 5-hectare Forbes Town Center in Fort Bonifacio,
  3. 34.5-hectare McKinley West in Fort Bonifacio,
  4. 15.4-hectare Uptown Bonifacio in Fort Bonifacio;
  5. 25-hectare Newport City in Pasay City that is home to the famous Resorts World Manila;
  6. 12.3-hectare Woodside City along C-5, Pasig City;
  7. 28.8-hectare The Mactan Newtown in Lapu-Lapu City, Cebu;
  8. 72-hectare Iloilo Business Park in Mandurriao, Iloilo City;
  9. 350-hectare Suntrust Ecotown in Cavite,
  10. Global-Estate Resorts Inc.'s 561-hectare Southwoods City in the boundaries of Cavite and Laguna;
  11. 150-hectare Boracay Newcoast in Boracay Island;
  12. 1,300-hectare Twin Lakes in Tagaytay, and
  13. 62-hectare Alabang West in Alabang.