Megaworld eyes P2-B in sales from Davao condo


Posted at Jan 29 2015 02:01 PM | Updated as of Jan 29 2015 10:49 PM

MANILA – Megaworld Corp. on Thursday said it is expecting at least P2 billion in sales this year from One Lakeshore Drive, its first residential project in Davao Park District.

The firm said the first tower of One Lakeshore Drive is nearly sold out in less than two months after it was launched by Megaworld’s Suntrust Properties Inc., prompting the firm to launch the second tower this month, way ahead of its original schedule.

“We are very happy with the overwhelming reception of Davaoeños to our first residential project in Davao Park District. Our experience is far beyond what we have expected,” said Suntrust president Harrison Paltongan.

The residential tower is a four?tower condominium cluster located at the corner of Megaworld Avenue and Lakeshore Drive, and beside a man?made lake that is about a hectare in size.

“Residents will have direct access to the lake and some of them will have this exclusive spectacular view right outside their windows,” said Paltongan.

The towers, each 21-storeys high, will have views of Samal Island, Mt. Apo, and Davao Gulf.

Each tower offers studio units (up to 27 square meters); executive studio (up to 40 square meters); one?bedroom (up to 50 square meters); and two?bedroom units (76 square meters).

Davao Park District, Megaworld’s first township project in Mindanao, is located in an 11.2?hectare property along the S.P. Dakudao Loop in Lanang, and is envisioned to be Davao City’s central business district (CBD) and a center for information technology and business process outsourcing (IT?BPO) in Mindanao.

Megaworld is allocating P15 billion in the next five to seven years to build and develop the township project.