Megaworld building 2 malls in Fort Bonifacio

MANILA, Philippines - Megaworld Corp. is set to unveil two new malls with a combined investment of P4 billion at its posh Uptown Bonifacio township in the former military base.

In a briefing yesterday, Megaworld first vice-president Kevin Tan said the first mall, Uptown Place, is a five-level upscale mall that will make available 85,000 square meters of retail and commercial space.

The second mall, Uptown Parade, is a 25,000 square meter strip of specialty restaurants that will  serve international cuisines. Its anchor tenant is The Palace Superclub, which is dubbed as the biggest night club in Asia.

The two malls will open in the last quarter of the year and is expected to bring the group’s total number of malls to 12.

Tan said the company plans to open 20 more shopping malls until 2020.

The group hopes to bring its gross floor area (GFA) of commercial and retail space to 1.4 million sqm. by 2020.

At present, Megaworld has a GFA of 300,000 sqm of commercial and retail space.

The two Uptown malls would add roughly 110,000 sqm and would bring total GFA to 414,000 sqm.

The Uptown Place will have new food concepts, state-of-the art cinemas including Megaworld’s Signature Ultra Cinemas, a rooftop sky and a Las Vegas-style water feature at the mall’s ground level and al fresco dining areas.

Anchor tenants include Rustan’s Supermarket, Robinsons Appliances, Toys R Us, True Value, National Bookstore and Hamley’s, among others.

“From the retail mix to the mall facilities and amenities, Uptown Place is envisioned to be a major shopping, dining and leisure destination in Fort Bonifacio,” Tan said.

The launch of the two Uptown malls is part of the first phase development of Uptown Bonifacio, a P65-billion urban township project of Megaworld, which will be developed for a period of 10 to 20 years.

Luxury residential condominiums that will rise in the township are One Uptown Residences, Uptown Ritz and Uptown Parksuites. There will also be modern office towers which include the 20-storey Alliance Global Tower, which will serve as the headquarters of the companies under the Alliance Global Group Inc.