Megaworld Corp. inks accord with CDC, pours P7B investment

_CLARK FREEPORT ZONE— The Megaworld Corporation is expected to pour P7 billion in a commercial leisure complex projects inside in this Freeport Zone, said the firm’s chairman and chief executive officer Andrew Tan.

During the signing of Memorandum of Agreement between Clark Development Corporation, led by President Felipe Antonio B. Remollo, and Megaworld--one of the leading estate developer in the country-- Tan said they are excited to develop their new project in Clark that would complement other existing enterprises in the zone.

Tan also added that they are envisioning of having more than 30,000 workers once the various projects are completed in the proposed area.

_Remollo said the landmark project of Megaworld will include the mixed-use complex featuring office, commercial, retail, leisure and entertainment (including hotels, casino and gaming facilities), residential and health and wellness components that can cater to foreign and local business process outsourcing locators, retirement communities and tourism enterprises.

It will be located in a 550 hectares main Clark Freeport Zone and Clark Special Economic Zone (Sacobia Area) ed-use complex.

As early as October 2011, Tan has been discussing with Remollo and CDC’s Marketing Department Manager, Rafael A.S. Galvez the possibility of developing portions main and sub zone into a mixed used commercial complex in line with its live-work-play-learn lifestyle developments.

Remollo said the proposed projects of Megaworld will change the tourism landscape in Clark and it will be a main attraction once the plans are put in place.

Megaworld is reshaping the Metro Manila and the other major cities’

skylines and is raising the standards for office development in the Philippines with its growing portfolio of office projects in established and emerging centers of business and commerce within the metropolis and in other growth centers in the country.

The tourism and estate developer is also responsible in the development of McKinley Hill Cyberpark in Taguig City which was inspired by one of Italy’s finest city, Venice, McKinley Hill Cyberpark is carving out its own success story a la Eastwood City Cyberpark – only on a larger scale and at a much faster pace; Eastwood City the country’s big business process outsourcing firms such as IBM, Citibank, Canon, Accenture, Dell, Emerson, among others which has seamless exchange of information with clients here and abroad through the Cyberpark’s advanced high-bandwidth telecommunications system and fiber optic backbone; and Newport City, home to the Resorts World, I which is merging of satellite city planning with low rise buildings, an entertainment and shopping center, and a business park all surrounded by lush parks and garden landscapes right across the sprawling Ninoy Aquino Internaitonal Airport Terminal 3.

The firm has also several on-going projects located in several provinces such as the Iloilo Business Park-a mixed use master-planned community in a 54.50 hectare property. It will have BPO offices, hotels, a convention center, commercial and retail centers, skills training center, recreational facilities and a transportation hub, all at the heart of the new growth center in the Visayas; and Mactan Oceantown which will rise on a 25-hectare complex near Shangri-La’s Mactan Resort and Spa in Mactan, Cebu. The project will be home to high-tech offices, a retail center, residential villages, leisure facilities with a beach resort frontage to boot.

Megaworld is also developing over the next 20 years the former 34.5-hectare Joint United States Military Advisory Group (Jusmag) property in Fort Bonifacio, which has been renamed McKinley West, next to Forbes Park. The company intends to develop the property into a mixed-use complex at an estimated cost of at least P22 billion. The addition of McKinley West brings a total of brings Megaworld’s total development portfolio in the burgeoning Fort Bonifacio area to a total of 105 hectares.