Megaworld to launch 2 more township projects this year

MANILA, Philippines - Megaworld Corp., the Andrew Tan-led property giant, will bring its total townships to 20 by the end of the year, with the next township set to be unveiled in one to two months time, said Megaworld senior vice president Jericho Go.

“Right now we have 18 and before the year ends, we will have 20 or probably more,” Go said.

One will be in Luzon and one or two in the VisMin or Visayas-Mindanao areas, to bring the total township portfolio to at least 20 by the end of 2015, he said.

With the townships, the company expects profits to grow at least 10 percent annually starting this year.

A brainchild of Megaworld, a township has just one developer developing the whole mixed-used area.

It is different from a business district, which has many developers.

“The way that we define township is first, we say it’s self-contained. First, there is only one developer and one operator. A central business district is land that is cut and sold, so for example in BGC (Bonifacio Global City), it can’t be referred as a true blue township because you have Megaworld there and so many other developers already,” Go said.

Investments in a township vary anywhere from P15- to P65-billion, depending on the size, he said.

In Megaworld township projects, the company sells the residential units and it leases the office and retail spaces.

The property firm has already launched two townships this year, namely Northill Gateway and The Upper East, both in Negros Occidental and is in the middle of developing office spaces in its UpTown Bonifacio township.

Go said the company also pioneered the development of LEED concept in its townships.

LEED stands for Leadership in Energy and Environmental Design. Developed by the US Green Building Council, it is a set of rating systems for the design, construction, operation and maintenance of green buildings and homes.

In all, the company expects the population in its various urban townships to reach at least one million by 2020.

Megaworld has at least 250,000 residents and 150,000 BPO and office workers in all of its existing townships.

The company started its commercial and retail business when Eastwood City was established in 1999. Recognized as the Philippines’ first urban township and cyberpark, Eastwood City in Bagumbayan, Quezon City is now home to almost 25,000 condominium residents and around 70,000 BPO and office workers. It used to be a 16-hectare township, but it expanded its land area last year to meet the growing demand for residential, office and commercial spaces.