Home Corporate Megaworld to build its seventh tower in Uptown Bonifacio

Megaworld to build its seventh tower in Uptown Bonifacio

MEGAWORLD expects the tower to be Leed (Leadership in energy and environmental design)-certified. — COMPANY HANDOUT

ANDREW L. Tan’s Megaworld Corp. is putting up another high-rise building in Uptown Bonifacio that will be the firm’s seventh office development in the area, the company told the local bourse on Tuesday.

The 24-storey tower, dubbed as the International Finance Center, offers 69,200 square meters of office space. Megaworld also said that the tower will be LEED (Leadership in Energy and Environmental Design)-certified.

“This new development, which will be PEZA (Philippine Economic Zone Authority)-accredited, sits right at the heart of Uptown Bonifacio, having the most convenient access to the mall, residential, transport, and leisure hubs in a community setting. Soon, this new office tower will have a direct access to the Mega Manila Subway and the proposed Skytrain monorail,” Megaworld Premier Offices First Vice-President Roland Tiongson said in a statement.

The building will have six levels of combined podium and basement parking; and four parking and two service elevators for the convenience of employees and tenants.

Megaworld has six other towers in Uptown Bonifacio, namely: Alliance Global Tower, Uptown Place Tower 1, Uptown Place Tower 2, Uptown Place Tower 3, Uptown Eastgate, and Worldwide Plaza.

“Currently, our office portfolio in Fort Bonifacio alone totals to around 900,000 square meters already. These are in Uptown Bonifacio, McKinley Hill, and McKinley West. We have grown this big because of the robust demand for office spaces in our townships here,” Mr. Tiongson said.

The firm reported a first-quarter attributable net income of P2.36 billion, down by around 33% year on year from P3.51 billion, amid lower revenues.

Shares in Megaworld at the local bourse rose by 1.32% or four centavos to close at P3.08 apiece on Tuesday. — Angelica Y. Yang