LISTED property developer Megaworld Corp. is set to build its third residential condominium development in General Trias, Cavite to expand its portfolio nationwide.
Megaworld said in a stock exchange disclosure on Thursday that the condo development, called the Maple Park Residences, is a 14-storey project located within the 140-hectare Maple Grove township.
The new development will offer 200 units and is expected to be completed by 2028 and generate sales of up to P1.8 billion once finished.
“Inspired by the parkside living concept prevalent in Scandinavian countries, Maple Park Residences will offer a total of 200 smart home units in varying unit types and sizes ranging from studio (up to 30 square meters), studio with balcony (up to 35 square meters), one bedroom with and without balcony (up to 44.5 square meters), and two bedroom with and without balcony (up to 76.5 square meters),” Megaworld said.
Maple Park Residences will be accessible to future residents through the six-lane Maple Grove Blvd., which is integrated into the General Trias-Tanza Bypass road project.
“Apart from the link between Maple Grove’s road networks and the General Trias Bypass road, the future direct link between the Cavite Laguna Expressway (CALAX) exit and Open Canal will significantly cut down travel time for all Maple Grove residents, especially those coming from Metro Manila, other cities in Cavite, and even Laguna,” Megaworld Cavite First Vice-President for Sales and Marketing Eugene Em Lozano said.
According to Megaworld, one feature of Maple Park Residences will be an electric vehicle charging station at the parking area that can accommodate multiple vehicles, marking the first-ever Megaworld residential condo development to have the said facility.
Other features include low flow rate fixtures to promote water conservation, occupancy sensors in hallways and parking floors for energy conservation, LED lights for units and common areas, a rainwater harvesting system, and a materials recovery facility.
For the interior, Megaworld said Maple Park Residences will have a high-ceiling lobby that carries a balance of Japan-Scandinavian fusion style. Several retail spaces will be occupied in the ground floor area.
The second level features various amenities such as an adult pool with an in-water lounge, a children’s pool, a pool deck, and an alfresco lounge area. Other amenities include a fitness gym, a children’s playground, and a function room.
“The concept behind Maple Park Residences draws inspiration from the Scandinavian countries as well as communities in Makati where residents are surrounded by lush open spaces in the middle of a modern and urban city. Maple Park Residences will offer both the excitement of urban living and the laidback setting of Cavite,” Mr. Lozano said.
Aside from Maple Park Residences, the Maple Grove township hosts two other residential condominium developments, namely: the 10-storey The Verdin and the 16-storey La Cassia Residences. It also has an upscale residential village and other towers.
Megaworld previously announced that it had earmarked P15 billion to develop Maple Grove as “Cavite’s first-ever modern central business district” within 10 years. The township will soon have its own transport hub, chapel, biking and jogging tracks, futsal field, and lifestyle mall.
In the first half of the year, Megaworld posted a P7.9 billion attributable net income, higher by 34% than P5.9 billion a year ago, amid surging property demand.
On Thursday, shares of Megaworld at the local bourse fell two centavos or 0.99% to end at P2.01 apiece. — Revin Mikhael D. Ochave