The project, which will be rolled out through subsidiary Global-Estate Resorts Inc. (GERI), will be developed over the next 10 years with an initial budget of P5 billion.
Big picture
Megaworld is a leading developer of townships, or integrated estates, that combine residential, commercial, and office spaces, ensuring diversified and steady earnings.
This marks Megaworld’s 35th township and underscores its strategic move to invest beyond Metro Manila, which is in line with the market’s shifting preferences.
Management’s view
“Ever since, we have already set our eyes on Cagayan de Oro City because this is the gateway to many parts of Northern Mindanao,” said Kevin L. Tan, president and CEO, Alliance Global Group, the parent company of Megaworld.
“For the past years, our Group has been carefully evaluating the concept of development that we want to put in this bustling city. Now is the perfect time to take part in the booming real estate industry of this side of Mindanao,” he added.
Project features
Megaworld said the new township will be located along J.R. Borja Road in the highlands of Barangays Gusa and Indang, overlooking Downtown Cagayan de Oro.
Megaworld’s latest township boasts sloping terrains with an elevation of up to 245 meters, featuring a central park, landscaped open spaces, viewing decks, and an adventure park complete with mountain and bike trails.
Its location is 10 to 15 minutes from the downtown area and less than an hour away from Laguindingan International Airport, which will be upgraded by the Aboitiz Group.
Latest milestone
“The Upper Central will be a milestone development as it is our 35th township launched on our 35th year in the Philippine real estate industry,” said Lourdes T. Gutierrez-Alfonso, president of Megaworld.
“As we develop this new township, our vision as a developer remains: to help uplift the lives of the community and also to help propel the local economy through the jobs that we create. We hope to impart this lasting impact to Kagay-anons and the rest of the people of Mindanao,” she added.
