MEGAWORLD Corp. expects P2 billion in sales from a 17-storey residential condominium that it is set to build in Lapu-Lapu City, Cebu, the company announced on Thursday.
In a press release, the company said it expects the condominium’s completion in 2028. The project will be built on the property developer’s 30-hectare The Mactan Newtown township.
“We continue to see an overwhelming demand for living spaces here at The Mactan Newtown, which is why we have chosen to offer this concept to further highlight the island vibe and the exciting lifestyle that residents have come to love in this master-planned township,” said Megaworld Visayas, First Vice-President for Sales and Marketing Jennifer Palmares-Fong.
The project’s 301 “smart home” units range from 33 square meters (sq.m.) to 264.5 sq.m. depending on the type of unit.
The projects will be built around an Italian theme, paying homage to the Italian resort town of Positano, designed by the architectural firm Casa+Architects, Inc.
“This residential project is inspired by the elegance and beauty of the picturesque Italian seaside destination off the Amalfi Coast that carries the same name,” added Ms. Palmares-Fong.
Units within Positano Mactan will have smart home devices with WiFi routers, a video intercom, and backup power for selected areas.
“Each unit at Positano Mactan will be equipped with a wireless smart home system and that residents can access and control remotely via a smartphone app,” the company said.
The Mactan Newtown is a mixed-use development project by Megaworld housing nine exisiting towers hosting more than 2,000 units and about 81,000 sq.m. in gross leasable office spaces.
The township also features the 18-storey Savoy Hotel Mactan and the 20-storey Belmont Hotel Mactan.
“Soon, a convention center, a museum, and a two-level ‘beach mall’ will also rise in the township to offer more leisure and accommodation options for visiting travelers,” the company said.
Shares in Megaworld on Thursday fell by 0.49% or 0.01 centavos to close at P2.04 apiece. — Adrian H. Halili