MANILA, Philippines - Tycoon Andrew Tan’s Megaworld Corp. is investing P30 billion to develop a 35.6-hectare prime property in San Fernando, Pampanga into a mixed-use community.
The project, which will be developed over a 10-year period, will comprise residential, office, commercial, retail and institutional components.
“This new township is also envisioned to expand and revitalize Pampanga’s provincial capitol district,” Megaworld senior vice president Jericho Go said.
The property is located approximately 70 kilometers away from Manila and is accessible via the North Luzon Expressway, particularly the San Fernando Exit) and the Jose Abad Santos Avenue, also known as the Olongapo-Gapan Road.
It is around 20 kilometers away from Clark International Airport.
Go said the company would “utilize the potential pool of skilled talents for the BPO sector in the province and build a cyberpark to bring in partner locators as well as generate thousands of jobs for the people of Pampanga.
This project marks Megaworld’s 19th township development and the fourth to be launched this year following the launch of two townships in Negros Occidental, namely the 50-hectare Northill Gateway, 34-hectare Upper East and another township in Sta. Barbara, Iloilo called Santa Barbara Heights with a size of 170 hectares.
The new townships would add close to 400 hectares, bringing the total township land area of the Megaworld Group to around 3,100 hectares by the end of the year, Go said.
To date, the Megaworld Group has around 4,000 hectares of land in its portfolio, with around 80 percent dedicated for “live-work-play townships or mixed-use communities.
Megaworld pioneered township development in the Philippines way back in the 1990s. The townships combine the residential, office, commercial and retail components to form mixed-use communities.
Existing townships include Eastwood City in Quezon City (18.5 hectares), which holds the distinction of being the country’s first cyberpark; Newport City in Pasay City (25 hectares), which is the home of Resorts World Manila; McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town Center (5 hectares), all in Fort Bonifacio; The Mactan Newtown in Cebu (28.8 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); ArcoVia City in Pasig City (12.3 hectares); Davao Park District in Lanang, Davao City (11 hectares); Boracay Newcoast in Boracay Island (150 hectares), Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Alabang West in Las Pinas City (62 hectares); and Twin Lakes in Tagaytay (1,300 hectares) of subsidiary Global Estate Resorts; and Suntrust Ecotown in Tanza, Cavite (350 hectares) of unit Suntrust Properties.