MANILA, Philippines - Property giant Megaworld Corporation recently inked a memorandum of agreement as the new partner of the Philippine Retirement Authority in promoting the Philippines as the preferred retirement destination in Asia.
Leading the signing ceremony, held at the PRA headquarters at the Citibank Tower in Makati, were PRA General Manager Veredigno Atienza and Megaworld Senior EVP Lourdes Clemente.
“With this landmark agreement with the PRA, Megaworld continues to help in nation building as we encourage more and more retirees to spend their golden years and experience our warm climate and warm hospitality,” Clemente noted.
As a partner of the government-owned PRA, Megaworld is authorized to facilitate the Special Resident Retiree’s Visa (SSRV) applications of qualified foreign clients investing in its real estate products. The SSRV, issued exclusively by the PRA, is a special non-immigrant visa that allows holders to stay indefinitely in the country and enjoy multiple-entry privileges, without imposing a minimum period per year as a residence requirement.
Megaworld is tapping into a rapidly growing retiree market. Its new Eight Newtown Boulevard Mactan Island residential project, located in Cebu, is specially designed to serve the needs of retirees and their families. The four-cluster development, part of Megaworld’s large-scale Mactan Newtown township, is adjacent to Shangri-La Mactan and Portofino, which allows residents easy access to the beach.