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Megaworld increases investment for Uptown Bonifacio to P65 billion

Megaworld Corporation, the country’s No.1 residential condominium developer, is increasing its investment in a 15-hectare integrated township development called Uptown Bonifacio from P45 billion to P65 billion over the next 20 years due to the strong outlook and demand in Bonifacio Global City.
The predominantly mixed-use Uptown Bonifacio project is centrally located in the northern district of Fort Bonifacio, extending all the way to Kalayaan Avenue, and is near the British, Japanese and American international schools.
"Uptown Bonifacio, touted as the newest business district in the Philippines, will take Megaworld’s renowned live-work-play lifestyle to new heights,” said Senior Vice President for Marketing Noli Hernandez.

Uptown Bonifacio will feature up to 18 towers, offering a total potential development of 500,000 square meters of residential space, 400,000 square meters of office space and 90,000 square meters of retail space. With a wide range of well-planned offerings, Hernandez is confident that Uptown Bonifacio will be the new place to be in the next few years.

The 45-story Uptown Ritz Residence, Megaworld’s first-ever ultra-luxurious, all-suites condominium project in the township, is valued at P8 billion. Its suites come in spacious two-to four-bedroom layouts. With only 10 units per residential floor, it guarantees exclusivity and privacy for future residents. Recreational facilities for the project include Uptown Place, Megaworld’s upscale three-level retail complex next door.

Sales for Uptown Ritz have been exceptionally brisk. "We have never experienced such tremendous optimism in the real estate market in the last 15 years,” said Hernandez.

Aside from retail attractions, Uptown Bonifacio hosts a P12-billion, 140,000-square¬meter corporate block with four towers set along Megaworld Avenue, the district’s main avenue.

The upcoming corporate block will be constructed under the BERDE (Building for Ecologically Responsive Design Excellence) rating system. Its office buildings will showcase cutting-edge architecture, double-glaze glass walls, sky gardens and a lagoon.

Megaworld First Vice President for Business Development and Leasing Division Jericho Go, for his part, said: "We will continue our best efforts to ramp up the construction of our next-generation "green” office developments in Uptown Bonifacio to help generate at least 80,000 new jobs in the area.”

Megaworld’s continued leadership in the residential condominium market has been cited recently by international real estate services firms CB Richard Ellis and Colliers International based on the number of residential units completed and to be completed until 2016 and their total aggregate saleable area.
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"Megaworld increases investment for Uptown Bonifacio to P65 billion" was written by Mary under the Business category. It has been read 1733 times and generated 0 comments. The article was created on and updated on 31 July 2012.
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