Megaworld makes foray into China
Tycoon Andrew Tan is making his foray into China with the development of his first ever real estate project in the economic powerhouse, which will rise in Quanzhou City, the land of his birth.
The landmark project, named Megaworld One Nanyang, will have 16 towers with 11 stories each and is slated for completion in 2020, Tan’s son Kevin told
The STAR over the weekend. “It’s our first project (in China),” the younger Tan said.
There will be gardens, greenery and traditional Fujian-style courtyards surrounding the buildings, according to
The STAR columnist Wilson Flores who attended the ground breaking ceremony last Oct.11.
The project is spearheaded by Tan’s Quanzhou Megaworld Properties Ltd., which is not part of his property firm Megaworld Corp.
Speaker Gloria Macapagal Arroyo, Sen. Sonny Angara and Monetary Board member Peter Favila were among the guests who flew to China for the ground-breaking ceremony.
Tan, number 10 on Forbes’ list of billionaires in the Philippines, is among the families who left China at a time when life was difficult because of the invading Japanese army, and moved to other countries in Asia. His family migrated to Hong Kong and then to Manila.
Meanwhile, back home, Tan’s Megaworld announced the launch of its first residential development inside the 140-hectare Maple Grove township in General Trias, Cavite.
Located along the township’s main sixlane avenue, The Verdin at Maple Grove will integrate environmental sustainability features, complementing the township’s vision as Cavite’s ‘green’ central business district.
The 10-story Verdin at Maple Grove will offer seven levels of residential units ranging from studio, one-bedroom and two-bedroom spaces.
The low density, mid-rise tower will only have 140 exclusive units.
“Maple Grove will become a sanctuary of urban countryside and sustainable lifestyle. A huge part of the masterplan will be Makatiinspired where green parks and interconnected streets are surrounded by malls, office buildings and residential towers.
The Verdin at Maple Grove will be at the center of it all,” said Rachelle Peñaflorida, Megaworld vice president for sales and marketing.
Set to be completed in 2023, The Verdin at Maple Grove will have an exclusive thirdlevel amenity deck featuring a lap pool with pool deck, children’s pool and a leisure and relaxation park.
The company is expected to generate around P700 million in sales for this first residential project in the township.
Late last year, Megaworld announced it is building a 35-hectare ‘Makati-inspired’ business district within the 140-hectare township, offering 363 ‘prime lots’ where companies and businesses can construct their own buildings and towers.