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March 20, 2014

Megaworld Invest 15-B in first Mindanao township project in Davao City

— Megaworld Corp. is building its first township project in Mindanao on the site of the former Lanang Golf and Country Club.

In a statement, the upscale condo builder owned by billionaire Andrew Tan said it is investing P15 billion in the next five to seven years to develop Davao Park District, an 11-hectare property along the S.P. Dakudao Loop in Lanang, Davao City.

“Davao City is the economic center of Mindanao. This is the best place to build our very first township in Southern Philippines, which we envision to be Mindanao’s new central business district. In Davao Park District, the people of Mindanao can finally experience Megaworld’s pioneering ‘live-work-play-learn’ township concept,” said Tan, the company’s chairman and chief executive.

First to rise in the township will be office towers serving business process outsourcing (BPO) companies and other corporate offices.

“As the country’s largest office developer and landlord, we will also be bringing our expertise and leadership in the development of state-of-the-art office towers to Davao City. We hope to bring in new BPO locators to set up operations in the city,” Megaworld first vice president Jericho P. Go said.

Aside from office towers, Davao Park District will also feature themed residential condominiums that will be constructed by Suntrust, a wholly-owned subsidiary of Megaworld.

The township, Megworld’s 10th in the Philippines, will also have a lifestyle mall, commercial and retail strips, and a school.

“We are excited to revitalize the landscape of Davao City with our ‘live-work-play-learn’ concept for this mixed-use development. This is like bringing Eastwood City to Mindanao,” Go said.

source: Interaksyon / Business

Related post:
1.2-B Davao Finance Center to rise in Davao Park District

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