Megaworld To Launch Second Residential Tower In Taguig

By Author: Arra B. Francia
Total Articles: 39

MEGAWORLD Corp. is unveiling a second residential tower worth P7 billion in sales within its Taguig township, after quickly selling out the first phase of the Park McKinley West project this month.
In a statement issued Wednesday, the listed property developer said Park McKinley West’s second tower will offer 478 rooms across 25 floors.
Units range in size from 48.5 square meters (sq.m.) for one-bedroom, up to 110 sq.m. for two-bedroom, up to 212 sq.m. for three-bedroom, up to 229 sq.m. for four-bedroom, and up to 336 sq.m. for five-bedroom penthouse units.
Amenities include a lap pool and kiddie pool with a pool deck and lounge, fitness center, function rooms, yoga room and outdoor yoga deck, outdoor sitting areas, water features, children’s playground, game room and sky garden.
The property unit of tycoon Andrew L. Tan expects to complete the project by 2023.
The launch of the second tower follows the strong sales of Park McKinley West’s first residential building worth P6.5 billion, which has already been sold out two months after its launch in May.
Megaworld noted that rising prices for property units in the 34.5-hectare McKinley West township have not dampened demand, as investors are looking at the development’s prime location.
McKinley West is located in the southern part of Fort Bonifacio in Taguig, beside Forbes Park and the Manila Polo Club.
“At present, unit prices of Park McKinley West already rose 15% to P250,000 per square meter because of the huge demand for residential properties in McKinley West. We somehow expected this considering the remarkable take-up of lots in McKinley West Village, and the brisk sales of units in St. Moritz and The Albany. McKinley West is truly on a roll,” Megaworld Senior Vice President for Sales and Marketing Noli D. Hernandez said in a statement.
Megaworld now has four residential projects in the township, with the first being the McKinley West Village launched in 2010. The company noted that prices of lots in the upscale residential village have already tripled to around P200,000 per sq.m.
Its other residential offerings in the township are the St. Moritz Private Estate and The Albany. Megaworld said prices of units in both properties have already increased by 40% since their respective launches.
Megaworld’s net income attributable to equity holders of the parent rose by 11% to P3.2 billion in the first quarter of 2018, following a 10% increase in revenues to P13.1 billion for the period.
Shares in Megaworld jumped 2.35% or 11 centavos to close at P4.80 each at the stock exchange on Wednesday. —

Source : https://www.bworldonline.com/megaworld-to-launch-second-residential-tower-in-taguig/

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