Property developer Megaworld Corp. said Wednesday it earmarked P98 billion to develop a new integrated mixed-use development in the municipalities of Marilao and Bocaue in Bulacan province.
Megaworld said in a disclosure to the stock exchange the 85-hectare development called Northwin Global City would be master-planned as a global business district with commercial district, high-rise residential condominiums, hotels, malls, mixed-use commercial buildings, educational institutions and state-of-the-art office towers.
Forty percent of the entire township development will be dedicated to green and open spaces such as landscaped parks, according to the company. Megaworld said Northwin Global City would become the first metropolitan hub for business and lifestyle in Bulacan province.
“Finally, our vision of having a truly modern and global business district for Bulacan is coming to a reality. This is like building a new city that will put the province of Bulacan in the global business map because we envision huge multinational companies to be operating here, once our commercial district and our office towers will be completed,” said Kevin Tan, chief strategy officer of Megaworld.
“Northwin Global City’s close proximity to Metro Manila and its ideal location just along NLEX [North Luzon Expressway] and the major transport infrastructure will be very favorable for the future locators and residents of this township,” Tan said.
The township project will host one of the stations of the proposed Manila-Clark Railway Project.
The property is 20 minutes from the proposed New Manila International Airport in Bulacan and just five minutes from the Philippine Arena.
Once completed, future residents, locators and even visitors of the township will have the most convenient access to and from Metro Manila and to and from Clark International Airport.
From the Ninoy Aquino International Airport, Makati central business district and Bonifacio Global City, Northwin Global City can be easily accessed via the Skyway 3 towards NLEX, which will only take around an hour during normal traffic.
“Once completed, Northwin Global City will have convenient access to three international airports in Bulacan, Clark and even in Metro Manila,” Tan said.
Megaworld reported a net income of P5 billion in the first half on P22.17 billion in consolidated revenues despite the impact of the health crisis.
Real estate sales in the second quarter grew 29 percent to P7.6 billion, as construction activities improved during the period.
“We attribute the steady recovery of our businesses to our ability to identify opportunities amidst the pandemic, as we continue to focus our efforts to create products and services that meet the evolving needs of our customers. While everything remains uncertain as far as the impact of the Delta variant will affect business in the coming months, we remain hopeful that the increasing number of vaccinated Filipinos will help sustain consumer confidence henceforth,” said Tan.
Share price of Megaworld rose 2.06 percent Wednesday to P2.97.