MEGAWORLD Corp. expects to generate P10 billion in sales from its fourth residential condominium in Uptown Bonifacio, banking on its prime location in the growing financial district in Taguig.
The listed property developer unveiled on Monday Uptown Arts Residence, a 45-storey condominium along 9th Avenue in the northern part of Fort Bonifacio.
Uptown Arts Residence will rise beside the Skytrain, the proposed monorail project of Megaworld’s sister firm, Infracorp Development, Inc. The Skytrain is set to connect Fort Bonifacio to the Guadalupe Station of the Metro Rail Transit Line 3.
The project will likewise be situated near the Kalayaan Station of the proposed Mega Manila Subway project, a 30-kilometer subway system connecting Quezon City to the Ninoy Aquino International Airport.
Uptown Arts Residence will also benefit from the construction of a bridge over Pasig River connecting Fort Bonifacio to Ortigas. This will cut travel time from Uptown Bonifacio to Ortigas to less than 10 minutes.
“Uptown Arts Residence boasts of its strategic location in the entire Fort Bonifacio. It has the fastest access to the new transport infrastructure projects, and it stands right next to Uptown’s own array of dining, shopping and entertainment establishments,” Megaworld Senior Vice-President for Sales and Marketing Noli D. Hernandez said in a statement.
Units will range from studio (up to 41.5 square meters), one-bedroom (up to 66 sq.m.), one-bedroom loft (up to 117 sq.m.), two-bedroom (up to 98.5 sq.m.), three bedroom (up to 125 sq.m.), and three-bedroom loft (up to 168 sq.m.). Each unit will have its own balcony.
All the executive and loft-type one bedroom, two-bedroom, and three-bedroom units will include a maid’s room with toilet. Meanwhile, three-bedroom units will feature bath tubs in their master bedrooms.
Amenities include an infinity pool with pool deck, outdoor lounge, a day care and children’s play area, fitness center, and function room. There will be nine storeys reserved for parking across basement and podium floors.
Megaworld expects to complete Uptown Arts Residences in 2024. It will be the fourth residential building in the company’s 15.4-hectare township. The first three are One Uptown Residence, Uptown Ritz, and Uptown Parksuites.
The company booked P7.25 billion in net income attributable to the parent during the first six months of 2018, 13% higher year-on-year, as revenues also jumped 10% to P26.8 billion.
Megaworld is the property unit of tycoon Andrew L. Tan’s holding firm, Alliance Global Group, Inc. Shares in Megaworld gained 1.69% or seven centavos to close at P4.19 each at the stock exchange on Monday. — Arra B. Francia