Philippines' Megaworld Adding New $1 Billion Township
Megaworld, a large residential and commercial property developer in the Philippines, has announced that it is to develop McKinley West - an ultra-high-end township on a 34.5-hectare former JUSMAG (Joint US Military Assistance Group) property in Fort Bonifacio, adjacent to Forbes Park and Manila Polo Club in Manila, the Philippines.
The company is spending $1bn (£619m / PHP45bn) over the next ten years to build the township. As well as featuring a residential village, McKinley West will host a series of luxury residential estates - designed by global architecture, urbanism and design practice Broadway Malyan.
Some of the properties will boast their own swimming pools, state-of-the-art security features and first-of-their-kind luxury amenities. Two to four bedroom suites will cover up to 350 sq m, with penthouse suites featuring two-level floor-to-ceiling windows and private infinity swimming pools. McKinley West will also include a business park with modern office towers, as well as commercial and retail buildings.
Ian Simpson, Main Board Director at Broadway Malyan said, "This prestigious appointment will draw on the skills and experience of our expert design team and will see us partnering with the top developer in the Philippines to deliver a truly landmark residential scheme. Winning this commission demonstrates the caliber of our rapidly-expanding portfolio of work in the Philippines and how we are supporting clients with genuinely market-moving projects."
Noli D. Hernandez, Senior Vice President at Megaworld commented, "Following the success of our McKinley West Village which sold out three years ago, McKinley West will provide a luxurious blend of a modern business district and ultra-high-end residential estates that will set a new benchmark in living."
Megaworld has pioneered the 'live-work-play-learn' lifestyle concept for mixed-use communities in the Philippines, which are popularly known as 'townships'. In addition to McKinley West, the company has nine other townships across the country covering around 300 hectares.
Over the past 25 years, Megaworld has completed more than 320 residential and office buildings with a total area of around 5.6m sq m. It currently has circa 185 residential, office and hotel buildings under development, with a total area of around 5.4m sq m.
Broadway Malyan is delivering a number of high-profile schemes in the Philippines. Earlier this year, the practice's P1bn 17,000 sq m 'Century City Mall' opened to the public, making it the newest retail development in the City of Makati for nearly a decade.
It is also the designer of Trump Tower Manila, which is set to be the tallest residential skyscraper in the Philippines and Manila's definitive landmark when completed in 2016, as well as the Milano Residences, an upmarket residential project featuring a 53-storey tower which will complete in 2015.
Distinguished by its global reach with 16 studios across world centers, unrivalled diversity with over 500 design experts and distinctive client focus with over 75 percent income from repeat business, Broadway Malyan creates world-class and fully-integrated cities, places and buildings to unlock lasting value and deliver a 'return on design'.