Office and condominium builder Megaworld Corp. said it expects to raise as much as P4 billion from its first residential project within the 12.3-hectare Arcovia City township along C-5 in Pasig City.
Megaworld said in a disclosure to the stock exchange the 18 Avenue de Triomphe would be a 37-story condominium tower offering 576 residential units.
Slated for completion by 2023, the residential project will offer studio units with maximum size of up to 32.5 square meters; one-bedroom with maximum size of up to 63 sqm; two-bedroom with maximum size of up to 110.5 sqm and and three-bedroom with maximum size of up to 154 sqm.
All units have their own balconies overlooking Eastwood, Ortigas and Fort Bonifacio cityscapes, as well as the Antipolo mountains.
Amenities of the 18 Avenue de Triomphe include a swimming pool, children’s playground, outdoor fitness park, game and entertainment room, fitness center, event hall, outdoor lounge and a viewing deck overlooking the various attractions of the township, including the iconic Arco de Emperador.
Aside from launching the first residential project in Arcovia, Megaworld started constructing other major components of the township development, including the 17-story office tower offering 23,000 sqm of leasable space, a lifestyle mall that has its own walk parks, viewing deck and leisure facilities.
The township’s centerpiece is Arco de Emperador, a 62-feet high arch monument inspired by the Arco de la Victoria of Madrid.
“Our vision for this new township is to inspire the young generation to persevere and work harder to attain their own successes and victories in life. There is a deeper story embedded into this development, and we will tell that story through the installations and attractions around the township,” Megaworld senior vice president Kevin Tan said.
Megaworld earlier allotted P35 billion over the next 10 years to develop Arcovia into a mixed-use township development.
Arcovia is envisioned as an environmentally friendly mixed use development. A main “green” feature of the project is the 1,000 Narra trees that will be planted around the township and which serve as natural shades to the surroundings.