Megaworld Corp. is set to open its P4.5-billion condominium tower in Chinatown, Binondo in Manila by the first quarter of 2017.
“The project is on schedule,” said Wilson Sy, head of sales and marketing of Megaworld’s Chinatown Group, noting that the firm commissioned the Yuchengco-owned EEI Corp. to construct the residential building.
The 47-storey Noble Place is at the corner of Juan Luna and Dasmariñas streets, with 460 units of one- to five-bedroom units, each with balcony.
The tower features spacious units, and six elevators—five for passengers and one intended for cargo.
“This residential development gradually reinvents the old and traditional image of Binondo Chinatown into a vibrant modern metropolis by ushering new upscale developments within the area,” Sy said.
Other amenities include an ground floor commercial spaces, infinity pool, tai-chi and picnic area, clubhouse and tent pavilion for parties and gatherings, exclusive sky gardens at 16th and 26th floors, as well as an open viewing deck and a badminton court located at the 47th floor.
The Noble Place location is near various commercial and educational establishments in Manila.
“Businessmen and investors will benefit from the property’s convenient 30-minute distance to the Ninoy Aquino International Airport. Living in Chinatown will eventually be as seamless as living in Eastwood City, Forbes Town Center, Newport City, and McKinley Hill,” Sy said.
“We are committed to bring the old glory of Binondo with the restoration of their historical street,” he added.
The company is still on track with its five-year capital expenditure program of P230 billion from 2013 to 2018.
Megaworld grew its first half net income by 289 percent to P16.44 billion from P4.23 billion a year ago.
Megaworld holds the property businesses of magnate Andrew Tan, which consist of 100-percent stake in Suntrust Properties Inc., 74.96-percent in Global Estate Resorts Inc, 82 percent in Empire East Land Holdings Inc. and 30 other subsidiaries.
Megaworld is a unit of conglomerate Alliance Global Group Inc., which also owns and operates Emperador Inc., McDonalds local franchisee Golden Archers Development Corp. and Resorts World Manila operator Travellers International Hotel Group Inc.