Megaworld says to spend P5-B for Antipolo project

ABS-CBN News

Posted at Dec 12 2016 12:57 PM

MANILA - Megaworld Corp. said Monday it will spend P5 billion to develop a residential and commercial project in Antipolo in the next five to seven years.

The company told the stock exchange it will develop 640 hectares of land along Marcos Highway into an "integrated lifestyle community" with residential, commercial, retail, and
institutional components.

“More than a hundred hectares will be allocated for residential villages. But in the next few years, we will be adding some commercial and retail components to make this community more exciting,” said Monica Salomon, president of Megaworld subsidiary Global-Estate Resorts Inc.

The project, called Eastland Heights, will be part of Megaworld's roster of developments, including Eastwood City, Newport City, and McKinley Hill.

Megaworld shares were down 2.45 percent to P3.59 on Monday.