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MEGAWORLD Corp. said it has tied up with a Korean
firm to market its projects to Korean communities in the Philippines
and abroad.
Under the agreement signed on
September 28, DaeMyung Consulting and Realty Corp. is authorized to
sell Megaworld’s prime condominium units at McKinley Garden
Villas, McKinley Hill Tuscany Private Estate and Stamford Executive
Residences all located in Fort Bonifacio, Taguig.
The other projects that DaeMyung
Consulting can sell include Manhattan Garden City in Araneta, Cubao,
Greenbelt Chancellor and Greenbelt Exelcisor in Makati and Eastwood
Le Grand in Libis, Quezon City.
Lee Doo Hee, DaeMyung Consulting
chairman, said many Koreans in the Philippines—most of them
studying English in the country—are keen on buying three-bedroom
condominium units, especially in Taguig and Makati due to the
proximity to their schools.
“Seen in conjunction with the
move of the Korean Embassy to and the setting up of the Korean
International School in McKinley Hill, this partnership is expected
to push more Korean investments in the country,” Noli Hernandez,
Megaworld first vice-president, said.
According to Megaworld, the
Korean International School would rise from a 3,000-square meter lot
within McKinely Hill, a township project that the firm expects to
generate P60 billion in investments for the next five to seven
years.
Besides the Korean communities in
the Philippines, DaeMyung Consulting would represent Megaworld in
South Korea and in tradeshows in other countries like the one the
marketing firm is attending in Australia that is exclusive for
Korean businesses.
Lee said foreign investor
interest in real estate would be higher if they are allowed to own
properties in the Philippines. Under the law, property developers
can only sell 40 percent of the total number of units to foreigners
and the rest should be allotted to Filipino buyers.
--Likha C. Cuevas-Miel
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