Megaworld Corp. expects to generate P1 billion from the sale of lots in the Shophouse District of its San Fernando, Pampanga township, disclosing on Monday, May 28, that it has so far sold out 70% of the lots.
The listed property developer said in a statement that since its launch in June 2017, prices of the lots in Shophouse District have already risen by 20%. Prices now range from P12 million to P32 million for the lots covering 276 to 680 square meters.
The company offers a total of 98 lots in the 6.3-hectare Shophouse District. Lot owners may use their property to build three-level shophouses, wit the ground and second floors for commercial purposes and the third level for the business owner’s residential unit.
Megaworld expects retail, food and beverage, pet shops, fashion boutiques, out-patient clinics, product showrooms, and boutique hotels to be build in the Shophouse District.
It noted that up to 40% of the Shophouse district will be allotted to open spaces such as alleys, roads, and easements. — Arra B. Francia