Property developer Megaworld Corp. will launch five new townships this year that will increase the company’s total township land area to 3,100 hectares by yearend.
Megaworld, along with its subsidiaries Suntrust Properties, Inc., Empire East Land Holdings Inc., and Global-Estate Resorts Inc., will launch two new townships in Luzon, two in Visayas, and one in Mindanao with a total land area of about 400 hectares, according to a disclosure to the Philippine Stock Exchange on Monday.
“With our adequate land bank and landholdings, the Megaworld Group is growing its townships to even more cities all over the Philippines,” Megaworld chairman and CEO Andrew Tan said.
The townships combine the residential, office, commercial and retail components to form mixed-used communities.
“These new developments will bring the company’s township portfolio from 15 to 20 by the end of this year,” Megaworld said.
Megaworld communications head Harold Geronimo said the company is still finalizing the details.
The company introduced last year five townships covering almost 1,000 hectares of land.
These include the townships in Pasig City, in the boundaries of Cavite and Laguna, Davao City, Las Piñas City, and Tanza, Cavite. — Kathryn Mae Tubadeza/ELR, GMA News
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