MEGAWORLD Corp. is developing a 117-hectare mixed-use community in Cagayan de Oro City to be called The Upper Central for P5 billion.
Megaworld said the project is located on J.R. Borja Road in the highlands of Barangays Gusa and Indang overlooking downtown Cagayan de Oro. It will be developed through Megaworld unit Global-Estate Resorts Inc. (GERI).
The Upper Central will feature residential villages, a pedestrianized commercial and shophouse district, mixed-use developments and a town center highlighted by scenic views of the Macajalar Bay and the Malasag Mountain Range, the realtor said.
“With its sloping terrains and a highest elevation of around 245 meters above sea level, the township will have a central park, distributed landscaped open spaces, and several viewing decks for future visitors and residents. There will also be mountain and bike trails as well as its own adventure park,” Megaworld added.
The Upper Central is 10 to 15 minutes away from the city’s downtown area and less than an hour away from Laguindingan International Airport.
Megaworld said 40 percent of the property will be dedicated to green and open spaces, including roads.
“We are envisioning to build a whole new lifestyle district in this higher part of Cagayan de Oro. The views are just amazing and breathtaking, and we are excited about how this area will be transformed into a vibrant community,” said Monica Salomon, GERI president.
Salomon said the P5 billion capital expenditure for The Upper Central will be budgeted for 10 years.
“Ever since, we have already set our eyes on Cagayan de Oro City because this is the gateway to many parts of Northern Mindanao. For the past years, our Group has been carefully evaluating the concept of development that we want to put in this bustling city. Now is the perfect time to take part in the booming real estate industry of this side of Mindanao,” said Kevin Tan, Megaworld executive director.
“The Upper Central will be a milestone development as it is our 35th township launched on our 35th year in the Philippine real estate industry. As we develop this new township, our vision as a developer remains: to help uplift the lives of the community and also to help propel the local economy through the jobs that we create. We hope to impart this lasting impact to Kagay-anons and the rest of the people of Mindanao,” added Lourdes Gutierrez-Alfonso, Megaworld president.
