MEGAWORLD CORP. expects two new residential condominiums within its Parañaque City township to generate P18 billion in sales.
The listed property developer said in a statement that it has launched South Beach Place and Sunny Coast Residential Resort inside Westside City, which will add about 1,900 residential units to the 31-hectare township.
South Beach Place will offer 582 units across 15 floors. Units range from studio layouts, sized from 32-41.5 square meters (sq.m.), and one-bedroom sized from 46.5-61.5 sq.m. All units have their respective balconies or lanai area.
The tower will feature amenities such as an adult and children’s pool, massage pool, sun deck lounge, pool lounge and seating deck, playground, fitness center, and function rooms.
Megaworld will be building a footbridge that will directly link South Beach Place to the future Westside City Resorts World complex.
Meanwhile, Sunny Coast Residential Resort consists of two 21-storey towers with a total of 1,309 units. Units are sized up to 41 sq.m. for studio layouts, up to 77 sq.m. for one-bedroom, and up to 111 sq.m. for the executive one-bedroom.
Amenities at Sunny Coast Residential Complex include a infinity pool, children’s pool, wading pool, pool pavilion, lounge deck, meditation deck, children’s playground, fitness playground, fitness center, function rooms, and outdoor seating area.
The company expects to complete the towers by 2024.
The two projects augment Megaworld’s current residential inventory of about 3,500 units across 19 towers worth P50 billion. The company earlier launched the 15-building Bayshore Residential Resorts project in Westside City, followed by the four-tower Gentry Manor.
Apart from residential projects, Megaworld is also building several hotels in Westside City, namely Kingsford Hotel with 529 rooms and Grand Westside Hotel with 685 rooms. Both hotels will be directly connected to the township’s casino complex.
Westside City is a leisure and tourism estate developed jointly with Megaworld’s sister firm, Travellers International Hotels Group, Inc. (TIHGI). Megaworld has committed to spend P54 billion for construction of residential and hotel projects in the estate, while TIHGI will be spending about P57 billion for the Westside City Resorts World complex.
Westside City Resorts World Complex will be the fourth casino to operate along the state-run Entertainment City in Parañaque City, following Solaire Resorts and Casino, City of Dreams Manila, and Okada Manila. The group expects to open the casino complex by 2021.
Shares in Megaworld jumped 2.85% or 15 centavos to close at P5.41 apiece at the stock exchange on Thursday. — Arra B. Francia