Business

Megaworld launching new ₱2.3-B condominium in Mactan Newtown

Megaworld launching new ₱2.3-B condominium in Mactan Newtown

By JAMES A. LOYOLA

Top urban township developer Megaworld Corporation is launching a ₱2.3 billion residential development – its fifth inside the 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu.

In a disclosure to the Philippine Stock Exchange, the firm said the 20-storey The Pearl Global Residences will add 222 units in the existing 1,836 residential unit inventory in the township.

The new residential tower offers a generous mix of unit choices: executive studio with either a balcony or a lanai (up to 40 square meters); one-bedroom and executive one-bedroom with balcony (up to 59 square meters); two-bedroom with balcony or lanai (up to 80 square meters); and three-bedroom with balcony (up to 116 square meters).

The Pearl Global Residences will offer its future residents with amenities at the second level that include an adult pool and kiddie pool, fitness center, outdoor lounge and seating areas, children’s play area, function room, game room, reading nook, and co-working spaces.

At the roof deck, there will also be an outdoor lounge and garden, a dry bar, and a viewing deck where residents and guests can enjoy the panoramic views of the Cebu mountains, the Magellan Bay and the Hilutungan Channel, the nearby islands, and the Lapu-Lapu Shrine.

“We got the name from the country’s title of ‘Pearl of the Orient,’ and as we expect more visitors and tourists to come to The Mactan Newtown in the coming years, we want this tower to be one of the icons of Filipino pride inside our development,” says Megaworld Cebu Properties, Inc. President Noli D. Hernandez.

To date, Megaworld has already launched 10 residential towers from four residential condominium developments in The Mactan Newtown which has its new beachfront.

The township is also home to five office towers with a total office inventory of around 81,000 square meters.

Just last year, the company also opened its first hotel in the township, the 547-room Savoy Hotel Mactan. It is expected to open two more hotels inside the township in the next two years.

Megaworld also announced that it is building the Mactan Newtown Beach Walk, a unique concept of mall development on a cliff by the seaside.