Andrew Tan’s group earmarks P65B for entertainment, leisure township

MANILA, Philippines – Megaworld, the real estate firm of tycoon Andrew L. Tan announced on Monday, November 2 that its newest development will be a 31-hectare leisure and entertainment township in Entertainment City, Parañaque.

The real estate firm and Travellers International Hotel Group, Inc. (the developer of Resorts World in the country) are allocating P65-billion ($1.39-billion) to develop Megaworld’s 20th township. This will also be Megaworld’s second leisure and entertainment township, next to Newport City.

To be called Westside City, it will house the second Resorts World property in the Philippines, scheduled for completion by the last quarter of 2020. It will also be home to Megaworld’s upscale residential condominiums and a luxury mall.

Westside City will also be the site for international hotel brands such as The Westin Hotel of Starwood Asia; Pacific Hotels & Resorts Group; Hotel Okura Manila of the Okura Hotels & Resorts; the Genting Grand and Crockfords Tower of the Genting Group; and Kingsford Hotel. These hotels will have a total of around 1,500 rooms.

‘Broadway of Asia’

Part of the company’s vision for Westside City is to become the “Broadway of Asia,” Megaworld said in a statement.

The development is also eyed to be home to the Philippines’ first Grand Opera House that has a total capacity of 3,000.

The real estate firm said, “Megaworld Chairman and CEO Dr. Andrew L. Tan is known to be a staunch supporter of the Filipino performing arts, with the Newport Performing Arts Theatre in Newport City paving the way for the rise of original Filipino stage plays in the country’s capital.”

“We are very excited to see Westside City rising to be a showcase of Manila as a truly world-
class Philippine capital,” Tan, also the chairman and CEO of Alliance Global Group Inc. (the mother company of Megaworld and Travellers International) said in a statement.

The Megaworld Group has around 4,000 hectares of land in its portfolio, with around 80% dedicated for live-work-play townships or mixed-use communities, the property development concept that Megaworld pioneered in the 1990s. – Rappler.com 

$1 = P46.86