Megaworld, a property giant, will build its first township in the Southern Philippines, which the company envisions to be Mindanao’s new central business district.
The company is allocating P15 billion in the next five to seven years to build and develop Davao Park District.
In a statement, Dr. Andrew Tan, chairman and chief executive officer of Megaworld, said “Davao City is the economic center of Mindanao.
This is the best place to build our very first township in the Southern Philippines, which we envision to be Mindanao’s new central business district.”
“In the Davao Park District, the people of Mindanao can finally experience Megaworld’s pioneering ‘live-work-play-learn township concept,” he said.
The township will also have a lifestyle mall, commercial and retail strips and a school.
The company said that first to rise in the township will be office towers suited for business process outsourcing (BPO) companies and other corporate offices.
Besides office towers, Davao Park District will also feature themed residential condominiums that will be built by Suntrust, a wholly-owned subsidiary of Megaworld.
Megaworld announced recently that its office space inventory would reach 712,000 square meters this year.
Based on a recent study by third-party research firm Colliers Research International, Megaworld remains the country’s top office developer and landlord.
According to Jericho Go, first vice president of Megaworld, as the country’s largest office developer and landlord, the company will also be bringing its expertise and leadership in the development of state-of-the-art office towers to Davao City.
“We hope to bring in new business process outsourcing locators to set up operations in the city,” Go said.