Megaworld starts construction of 3rd condo cluster in Newtown

CEBU, Philippines - Mactan Newtown developer, Megaworld announced the construction of its third residential condominium cluster, providing purely residential units.

Megaworld Cebu Properties, Inc. president Noli D. Hernandez said that the company decided to accelerate the construction of more buildings within the township, as it sees a strong demand for residential condominium in the Mactan Island area.

“We see a growing demand for residential condominiums in the island so we are aggressively expanding the residential component of our township. During the past year, we have easily sold out our two residential clusters, the 8 Newtown Boulevard, and One Pacific Residence. This is a clear indication of a strong, vibrant market for residential condominiums in Mactan Island,” said Hernandez in a press conference to officially launch the third cluster.

To be named as “One Manchester Place,” the three tower condominium cluster which will have a direct access to a mall that will soon rise in the township, is part of the company’s master-planned investment to reach P10 billion in the next few years.

The first tower, which is 10-story high and has a closer access to Punta Engano road, is now exclusively being offered to interested buyers.

Available units are executive studio (starting from 42sqm including balcony), one-bedroom (starting from 56 sqm including balcony), two-bedroom, and three-bedroom units.

“One Manchester Place is another highlight of The Mactan Newtown. The first tower that we are selling will be the most accessible to our exclusive township road network connected to Punta Engaño.,” said Hernandez.

Earlier, Megaworld chairman and chief executive officer (CEO) Andrew L. Tan committed that the company earmarks P20 billion investments for the development of the 20-hectare first township development in Mactan Island that will be spread in the next seven years.

Strengthening its development platform, the “live-work-play,” concept, Tan also said that the company is considering acquiring more available lots adjacent to the area to expand their development in Mactan.

Aside from residential condominiums, the township will also be composed of office towers, retail and commercial strips, malls, a hotel as well as leisure and entertainment amenities.

Megaworld has been known for its successful township developments in Metro Manila such as Eastwood City, McKinley Hill, Forbes Town Center and Newport City. IN the Visayas, the real estate giant is also building region 6’s biggest business district, the P25-billion Iloilo Business Park, located at the site of the Old Iloilo Airport in Mandurriao, Iloilo City.

The Manchester Place is expected to complete the entire construction by December 2017. — (FREEMAN)