By James A. Loyola
Urban developer Megaworld Corporation is planning to launch seven more townships in the next two years to build up its portfolio to a total of 30 townships.
In a press briefing, Megaworld Executive Vice President and Chief Strategy Officer Kevin L. Tan said they are kicking off this plan with the launch of a new township in Cainta, Rizal.
Tan revealed that Megaworld and subsidiary Empire East Land Holdings, Inc. are investing P20 billion to developing a 24-hectare property along F. Felix Avenue in Cainta into the Highland City township.
To be Megaworld’s 24thtownship development, Highland City will host the expansive Highland Mall with a gross floor area of around 58,000 square meters, rows of residential towers on a highland area, mixed-use towers, a church as well as open and green parks.
“We are building another Megaworld Lifestyle Mall that showcases another unique character, complementing the ‘highlands’ or sloped landscape of the property. The Highland Mall will offer around 58,000 square meters of retail spaces,” said Tan.
Highland City will be highlighted by the Highland Park, an 8,000-square meter green and open park, which will house some retail areas and a 500-seating capacity church.
The park will elevate towards the mall and will serve as a ‘grand welcome’ to the township. On both sides of the park will be a six-lane road which will serve as the main street entrance to the township.
“We are very excited about this new township that will evoke a character of a city sitting on highlands. Empire East will develop around 38 residential towers on the elevated portion of the township. These towers will serve as a dramatic backdrop to the vision of ‘Highland City,’” said Tan.
He added that, “our proposed Highland Mall under the Megaworld Lifestyle Mall brand will also be a centerpiece of the development. We will integrate it with an expansive park that opens towards the township’s main entrance.” says Tan.
The project will be developed on land that used to be a steel mill before being acquired by Empire East.
About 40 percent of the entire development will be dedicated to green and open spaces. Aside from the six-lane main road, the internal roads will be at least four lanes.
Land development will commence by second quarter of this year.