One Pacific Residence enjoy upbeat sales; now 95% sold

CEBU, Philippines - The Mactan Newtown’s first residential condominium project, the One Pacific Residence, reported a 95 percent sales performance, pushing the company to launch new cluster on the first quarter of this year.

“We are bringing luxury and lifestyle convenience to new heights. One Pacific Residence will showcase the best of 'Newtown' living,” said Noli D. Hernandez, President of Megaworld Cebu Properties, Inc.

Located in Lapu-Lapu city, the new cluster will offer the property’s top-notch amenities. These include a 20-meter-lonog pool, gym, rock climbing wall, yoga/taichi area and pocket gardens, among others.

The condominium will also include One Pacific Square, a retail area at the ground level, which will feature chic stores and boutiques.

One Pacific Residence, which was unveiled in the market last year in August, was met with positive response by the Cebuanos, said Hernandez.

This residential project is part of Megaworld’s newest township in Cebu, The Mactan Newtown, that incorporates the company's pioneering “live-work-play” concept. This formula has spawned the unprecedented triumph of its townships in Manila-- Eastwood City, McKinley Hill and Newport City.

The 16-hectare township will be home to top IT and BPO offices, which aims to turn Mactan into one of Cebu's bustling IT business hubs.

Megaworld’s “The Mactan Newtown,” is a P10 billion project that is expected to fully complete in the next five years.

The development, which is likened to Manila’s “Eastwood City,”in Libis,  is a 16-hectare development that will host several residential, commercial, retail, wellness, hotel, food, entertainment and leisure facilities, and is expected to the the “next” destination to watch for in Cebu.

In 2012, the company allocates P25 billion capital expenditure (capex) to complete the ongoing projects and develop new ones.

Also last year, Megaworld posted a net income of P8.15 billion up 60 percent from a year earlier on strong real estate sales, higher income leasing income and non-recurring gains from sale of shares.  (FREEMAN)