The Mactan Newton

MACTAN NEWTOWN. President Benigno S. Aquino III looks at the Mactan Newtown scale model presented by Megaworld Corp. chairman and chief executive officer Andrew Tan during the Mactan Newtown Grand Launch. MANILA, Philippines – Megaworld Corporation said Wednesday, January 15 it will expand its township development project in Cebu from 16.8 hectares to 28.8 hectares.

Megaworld released a statement saying the Mactan Newtown will be expanded after it formed a joint venture with Landmark Inc. to develop an 11.5-hectare beachfront property once known as the Portofino Beach Resort.

The company recently acquired a half-hectare property fronting Mactan Shrine along Punta Engaño road, and the property will connect to a proposed Punta Engaño entrance – a planned main access point to the township.

Noli Hernandez, president of Megaworld Cebu Properties Inc., said the expansion “will allow us to provide more enhanced features aligned towards resort-style living, perfect for active retirees and investors.”

Aside from attracting new residents, Megaworld also wants to enhance the township to better attract Business Process Outsourcing (BPO) workers, office and commercial tenants, and students.

The company partnered with the La Sallian Schools Supervision Office last year to build a school within the Mactan Newtown, and 8 Newtown Boulevard – Newtown’s first residential condominium cluster – is ongoing and expected to be done by next year. A second office tower, the Two World Center, is also expected to be ready by the second half of 2014.

Megaworld has committed a P20-billion investment over the next 7 years to build luxury residences, office towers, a world-class lifestyle mall, and a hotel in its Newtown project. – Rappler.com

Source: www.themactannewtown.com.ph