SAN FERNANDO, Pampanga: Listed property developer Megaworld Corp. said on Thursday it is set to build its “first township in the north” here, for a total project cost of P30 billion.
The Capital Town, the name given to the cenral business district (CBD), will rise on a 35.6-hectare property at the former site of the historic sugar central of the Pampanga Sugar Development Company (Pasudeco).
“Land development is set to begin this year,” Megaworld-Pampanga Vice President for Sales and Marketing Eugene Lozano told a news conference.
The township will have the modern flair of a central business district (CBD) and will be home to residential and business process outsourcing (BPO) office towers, civic and institutional facilities such as a school, amphitheather and event venues, mall and retail hubs, hotel, and a shophouse district that would feature neoclassical and art deco architecture.
“What we are building in Pampanga is a unique township concept that will truly bring out the best of the Kapampangan culture, tradition and history. In 10 years, Pampanga will see a CBD that is not only a showcase of homegrown businesses and entrepreneurs, but also a center for local arts and culture,” Lozano said.
“We are anticipating this to be a busy township. So, as early as now, we are putting in place the infrastructure that is fit for a CBD. However, we are also putting up small parks and pocket gardens around the development where people can take a break, relax and enjoy the views of the township,” he added.
The company expects to generate around 250,000 direct and indirect jobs in the BPO, transport, retail, food and construction sectors that will locate in the township.
Of the Capital Town’s total space, 75 percent will be devoted for township development while the remaining 25 percent will be green and open spaces. Of the 75 percent for township development, 50 percent will be allotted for BPO companies while the remaining space will be enjoyed by civic, institutional, retail and hotel spaces.
“We will be selling lots to those who want to build their businesses and at the same time, live there,” Lozano said.
“The first two lower levels may be dedicated for the business while the topmost floor may be used for their residence. This is a unique offering that we will introduce in Capital Town to help local entrepreneurs and businesses,” he added.
The main township road, San Fernando Boulevard, will be 30 meters wide and the township will be just five minutes away from the North Luzon Expressway (NLEX) and 30 minutes away from Clark International Airport (CRK).
Among the highlights of the township is a planned mall that will have some design inspiration from the Pasudeco sugar central. But the six-hectare Shophouse District will be the crown jewel, and will feature post-colonial architecture on the planned low-rise, three-level shophouses that will line the district.
Megaworld is the property arm of tycoon Andrew Tan under his umbrella conglomerate Alliance Global Group, Inc.