MEGAWORLD Corp. is targeting to generate P2.5 billion in sales from its first upscale residential village in Cavite.

In a statement Wednesday, the Andrew L. Tan-led property developer said it is building Arden Botanical Village, an 18-hectare development within the 251-hectare Arden Botanical Estate in Trece Martires City, Cavite.

Megaworld will offer 329 lots with sizes between 280 to 609 square meters (sq.m.). Prices will range from P18,000 to P22,000 per sq.m.

“Arden Botanical Village will be built around the natural features that thrive in the estate… Because the location is naturally gifted with greeneries that couldn’t be found in any other residential villages, we want to preserve and highlight them in our development,” Megaworld First Vice-President for Sales and Marketing Eugene Em Lozano said in the statement.

The gated village is designed by Filipino landscape architect and environmental planner Paulo Alcazaren. It will have a Centrera Park, surrounded by trees, natural waterways, promenades, jogging paths, and the village clubhouse.

The project, which takes inspiration from Scandinavian architecture, is scheduled for completion by 2024.

Arden Botanical Estate is the P18-billion joint project of Megaworld and its subsidiary Global-Estate Resorts, Inc. which will be built over the next 10 years.

Megaworld posted an attributable net income of P12.8 billion in the nine months to September, 14% higher from last year, as revenues increased 17% to P48.12 billion.

Shares in the company at the stock exchange slipped 0.11 point or 2.31% to close at P4.65 each on Wednesday. — Denise A. Valdez