Megaworld Corporation, tycoon Andrew Tan’s flagship property development company, is launching at least two to three new townships next year as it continues to expand its pioneering live-work-play concept.
In an interview, Megaworld parent company Alliance Global Group’s President and CEO Kevin L. Tan said, “we’re still finalizing plans for next year. I think we’re looking at two to three township launches, minimum, next year.”
He noted that their outlook for the property sector in 2025 is positive as interest rates are going down, which should be “very good for the property market,” particularly the residential business.
“Our residential business continues to be strong, specially, the luxury segment. So we continue to be very bullish on that,” Tan added.
Megaworld recently launched its 35th township in its 35th year, through its leisure property subsidiary Global-Estate Resorts, Inc. (GERI).
GERI is investing an initial P5 billion to develop a 117-hectare integrated lifestyle community in the highlands of Cagayan de Oro overlooking the city’s downtown.
“We have already set our eyes on Cagayan de Oro City because this is the gateway to many parts of Northern Mindanao. For the past years, our Group has been carefully evaluating the concept of development that we want to put in this bustling city. Now is the perfect time to take part in the booming real estate industry of this side of Mindanao,” said Tan.
To be called The Upper Central, the project will feature residential villages, a pedestrianized commercial and shophouse district, mixed-use developments, and its own town center highlighted by scenic views of Macajalar Bay and the Malasag Mountain Range.
With its sloping terrain and a highest elevation of around 245 meters above sea level, the township will also have a central park, landscaped open spaces, and several viewing decks for future visitors and residents.
There will also be mountain and bike trails, as well as an adventure park. Around 40 percent of the entire township will be dedicated to green and open spaces, including roads.
It is strategically located just 10 to 15 minutes away from the city’s downtown area and less than an hour away from Laguindingan International Airport, the main airport of Cagayan de Oro and the entire region of Northern Mindanao.
“We are envisioning to build a whole new lifestyle district in this higher part of Cagayan de Oro. The views are just amazing and breathtaking, and we are excited about how this area will be transformed into a vibrant community,” said GERI President Monica T. Salomon.