Aquino to grace the official launch of Mactan Newtown

CEBU, Philippines - Megaworld Corporation’s first township project in Cebu,  Mactan Newtown will be officially launched this Wednesday and will be graced by President Benigno Aquino III.

The P10 billion, 16-hectare mixed-used development, which is the first township project of Megaworld Corporation in Cebu, is expected to change and reinforce Cebu’s attraction landscape in real estate, tourism and Business Process Outsourcing (BPO).

Megaworld first vice president Jericho Go said that the President is expected to deliver a speech in the inaugural ceremonies which will then be followed by a tour around the township. His first stop will be the five-story One World Center, the first BPO office tower that opened early this year.

According to Go, Megaworld President Andrew L. Tan, will also be announcing the company’s adjustment of capital expenditure (capex) for the five-year project in Cebu during the official launching.

Megaworld, which pioneered the establishment of cyberpark concept in the Philippines, as well as the trend setter in the “live, work and play” kind of the development, expects that the fast track the realization of the entire master-plan which was originally set to complete in the next five years.

According to Go the company got strong interest from both BPO companies and the condominium buyers from local and international markets. In fact, by April or May of this year, the development’s first BPO building called One World Center will be hosting two big outsourcing firms, namely the Infra USA, and Results Manila, which are scheduled to run live in Cebu, these two companies will initially hire at least 2,000 workers.

While its first residential building called One Pacific Residences is now 98 percent sold out, the company will start the construction of another residential tower or cluster within the first half of this year, said Go.

The company is now going to construct its second cluster called “The Newton Boulevard” which consists of four towers, the two towers are already contracted by another group of Japanese buyers, while the other one tower will be offered to the local market. One tower of the second cluster will be built for the growing demand from the Business Process Outsourcing (BPO) tenants.

Go said that aside from Japanese active retirees, the Mactan New Town Boulevard, has also gaining interest from other nationalities such as Europeans.

If Cebu has destinations like downtown, uptown districts, in the next few years, Cebu will have a third district destination—“The Mactan Newtown.”

 This new development, is adjacent to Shangri-La Mactan and Portofino along the Hilutungan Channel near Magellan Bay, making the beach resort lifestyle even more accessible.

This year, the company allocates P25 billion capital expenditure (capex) to complete the ongoing projects and develop new ones.

Megaworld is currently developing over 40 residential and BPO office projects in Metro Manila alone.

Last year, the company posted a net income of P8.15 billion up 60 percent from a year earlier on strong real estate sales, higher income leasing income and non-recurring gains from sale of shares.

Due to the growing demand of office spaces in the township, a second BPO tower will start construction this year. With a floor area of 7,200 square meters, Two World Center is expected to house 2,000 BPO employees. The tower’s ceremonial groundbreaking will also be held during the visit of President Aquino.

In two to three years, more office spaces will be available for lease as 8 Newtown Boulevard and Pacific World Tower will open for business. Both towers will be able to accommodate around 13,000 BPO seats.

During the launching, the Megaworld will also be holding a “Job Fair”, of which job opportunity will not only be limited to BPO, but also in other skills’ requirement by participating companies, such as Megaworld Corporation, McDonalds, Resort’s World Manila, among others. (FREEMAN)