Megaworld expands P20-B Cebu township

Listed real estate developer Megaworld Corp. has acquired additional property in Metro Cebu, which would give the company space for more developments in its P20-billion township project called The Mactan Newtown.

From 16.8 hectares, The Mactan Newtown is now measures 28.8 hectares and will be developed in the next five to seven years. Also, Megaworld said that it intends to develop a 11.5-hectare beachfront property in Cebu province, which was formerly known as Portofino Beach Resort. This will be done in a joint venture with Landmark Inc., the present landowner of the property.