MEGAWORLD Corp. will launch at least three more large-scale mixed-use development next year.
Kevin Andrew Tan, Megaworld executive director, said plans are still being finalized for the specifics of the three which are set to increase the company’s townships projects of such scale to 35.
“I think that that’s the biggest thing to look forward to next year,” Tan said, apart from what the company expects from the impact of a declining interest rate.
Tan said the company is bullish about the prospects of the residential market as interest rates drop, though he stressed that it will be mainly for the luxury market.
“We’re bullish on that segment and interest rates going down. I think that will be good for the property market,” he said.
Early this month, Megaworld announced plans to develop a 117-hectare township in Cagayan de Oro City (CDO) to be called The Upper Central, initially spending P5 billion.
The Upper Central is just 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.
“Located along J.R. Borja Road in the highlands of Barangays Gusa and Indang overlooking Downtown CDO, The Upper Central will feature residential villages, a pedestrianized commercial and shophouse district, mixed-use developments, and its own town center highlighted by scenic views of the Macajalar Bay and the Malasag Mountain Range,” the realtor said, adding it will be developed through unit Global-Estate Resorts Inc. (GERI). “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.
