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MANILA, Philippines – Andrew Tan-led Megaworld will invest P45 billion over 20 years in its newest integrated township project in Bonifacio Global City.
In a disclosure to the Philippine Stock Exchange, the property company controlled by tycoon Andrew Tan said the project, called Uptown Bonifacio, will sit in a 15-hectare lot in the sprawling former military base in Taguig City.
Located in the northern district of Fort Bonifacio extending all the way to Kalayaan Avenue, the township development will feature up to 18 towers, offering 500,000 square meters of residential space, 400,000 square meters of office space and 90,000 square meters of retail space.
“Uptown Bonifacio, designed to be the country’s newest business district, will take Megaworld’s live-work-play lifestyle to new heights,” said Noli Hernandez, Megaworld senior vice president for marketing.
Among its residential offerings will be the 45-storey One Uptown Residence valued at P7.5 billion. It will have a luxury mall with a basement retail strip that will serves as a connecting walkway to the 3-level 33,000 square meters Uptown Place.
Besides retail attractions, Uptown Bonifacio also hosts a 4-tower 140,000 square meters, P12 billion corporate block along Megaworld Avenue, its main avenue.
Megaworld’s upcoming development in Taguig will be constructed under the BERDE (Building for Ecologically Responsive Design Excellence) rating system. These office buildings will showcase cutting-edge architecture; double-glaze glass walls, sky gardens and a lagoon.
“We will continue our best efforts to ramp up the construction of our next generation “green” office developments in Uptown Bonifacio that will help generate at least 80,000 new jobs in the area.” said Jericho Go, Megaworld first vice president for business development and leasing division.
Megaworld has over 100-hectare total development portfolio in Fort Bonifacio. Currently, Megaworld has the 50-hectare McKinley Hill, the 5-hectare Forbes Town Center, and the 34.5-hectare JUSMAG propert at the former army base. – Rappler.com