Megaworld set to open P240-M school in Cebu
MEGAWORLD CORP. is marking its foray into the education sector with the opening of the P240-million Newtown School of Excellence within its Cebu township in time for school year 2018 to 2019.
In a statement issued Monday, the Andrew L. Tan-led firm said it partnered with the De La Salle Brothers through the Lasallian Schools Supervision Services Association, Inc. (LASSSAI) for Newtown School, which will be offering primary classes in the coming school year.
The institution is located along the entrance of the 30- hectare Mactan Newtown along the Mactan Circumferential Road. The school targets to attract students from the township, as well as residents of Lapu-Lapu City and nearby areas.
“We will also cater to the children of the expat community and residents of Lapu-Lapu City and nearby towns and cities as well as the children of those working in nearby businesses and business process outsourcing (BPO) companies,” Megaworld Cebu Properties, Inc. President Noli D. Hernandez was quoted as saying in a statement.
The Newtown School will have two main buildings, with the first catering to the Kindergarten level and consists of three classrooms, a library, playground, and multi- purpose hall. The second building will have five floors with a total of 21 classrooms, audio-visual rooms, computer rooms, music room, home economics room, and an auditorium, among others.
Megaworld said the school curriculum will be technologybased.
“Being inside The Mactan Newtown, the school will also have access to its own beachfront, allowing the institution to conveniently utilize the beach facilities for school activities. With the improvement of the quality of life of the future generation as its primary goal, this school will provide an exceptional educational program through the reputable brand of LASSSAI,” Mr. Hernandez said.
Megaworld has committed to spend P30 billion for the development of Mactan Newtown from 2013 through 2023. Also set to rise within the township are residential condominiums, office towers, hotels, mall and commercial centers, as well as a beach club along with beachfront facilities.
The Mactan Newton township is among the company’s 23 integrated communities being developed by Megaworld across the country. This includes the 640- hectare Eastland Heights in Antipolo, Rizal and the 35.6- hectare Capital Town in Pampanga where Megaworld will spend P30 billion in the next 10 years.
The listed property developer booked an 11% increase in attributable profit to P9.98 billion in the first nine months of 2017, pushed by the 5% uptick in revenues to P35.4 billion during the period.