New mall on a shoreline cliff to be highlighted by a man-made lagoon, boutique hotel, garden chapel, beach walk, and rows of retail shops & restaurants including four cinemas
Property giant Megaworld is building a two-level mall along the beachside cliff of its 30-hectare The Mactan Newtown development in Lapu-Lapu City.
With a total gross floor area of 30,000 square meters, the Mactan Newtown Beach Walk will be highlighted by a 1.4-hectare man-made lagoon at the center.
The lagoon will have floating boardwalks and a bridge that will connect both sides of the mall. With a maximum depth of around 1.5-meters, it can also serve as venue for future water sports activities such as jet ski, wakeboarding, stand-up paddling, and boating. It will also have its own man-made shoreline at its perimeter.
The Mactan Newtown Beach Walk, which is designed and to be operated under the Megaworld Lifestyle Malls brand, will also have its own chapel that will be surrounded by a garden by the Cliffside, overlooking the sea.
It will also have four state-of-the-art cinemas, a Food Hall, al fresco areas, Traveler’s Lounge, and a view deck, allowing visitors and mallgoers to have a panoramic view of the sea and nearby islands.
“Megaworld Lifestyle Malls is bringing a fresh, new concept of mall development in Cebu that recreates and innovates the beach lifestyle experience. We take inspiration from some iconic coastline commercial developments in South California, where visitors can enjoy coffee, meet friends over lunch or dinner, watch a movie, or simply shop around in this laid-back beach atmosphere,” explains Kevin L. Tan, chief strategy officer, Megaworld.
The mall complex will also have its three-storey boutique hotel, offering 48 spacious guestrooms with retail shops at its ground level. This will be operated under the Megaworld Hotels brand.
True to its commitment to sustainability, Megaworld will use solar roof panels for this new mall, and will utilize an open layout scheme for passive cooling and natural lighting in most of the development’s common areas.
Green, open spaces
Around 40% of the entire development will be dedicated to green and open spaces.
“We will even have some untouched areas for bike trails, airsoft shooting, and tree-top activities. This part of the Mactan Newtown is abundantly surrounded with trees, and we want to keep them,” adds Tan.
Megaworld will spend P1.5-billion to build the Mactan Newtown Beach Walk, which is expected for completion in 2021.
Residential, rental, and hotel businesses register double-digit growth
Megaworld, the country’s pioneer in and largest developer of townships, grew its net income by 18% to P8.9-billion in the first half of 2019 from P7.5-billion during the same period last year. Excluding a non-recurring gain of about P189-million in the first six months of 2019, the company saw a 15% increase in earnings compared to the same figure last year.
Net income attributable to parent company, on the other hand, rose 16% to P8.3-billion from P7.2-billion during the same period the previous year.
Megaworld’s earnings was fueled by a collective growth of 16% in its core businesses related to residential sales, leasing of Megaworld Premier Offices and Megaworld Lifestyle Malls, as well as operations of the brands under Megaworld Hotels. Each of the company’s core businesses exhibited double-digit growth from January to June this year.
Likewise, consolidated revenues of the company went up 18% to P31.7-billion during the first half of 2019 from P27-billion during the same period last year. Broken down, Megaworld’s residential business, rental, and hotel operations, accounted for 63%, 26%, and 4% of total revenues, respectively. The balance of 7% came from its non-core revenues.
MEGAWORLD HOTELS. The company’s hotel business was the fastest-growing segment for the first half of the year, growing 80% compared to the same period last year.
“The current economic landscape is quite favorable so we continue to be optimistic on the remaining five months of 2019. Interest rates are on a downtrend, which is a very positive news for our residential business. Vacancies in both office and commercial segments are on an all-time low, and we don’t see this changing in the near future due to the robust sign-ups we are seeing from big companies and business owners. Tourism growth, likewise, remains strong, and this should continue to fuel our blossoming hotel operations especially that we are opening more hotels henceforth,” said Kevin L. Tan, chief strategy officer, Megaworld.
Residential sales improved to P20.2-billion during the first six months of 2019 from P18.1-billion during the same period in 2018, registering a growth of about 11% year-on-year.
The company launched a total of P39-billion in new inventory during the first half of the year while sales reservations reached P80-billion by the end of the period.
On the rental front, Megaworld’s leasing revenues soared to P8.1-billion during the first six months of the year from P6.8-billion in the same period in 2018, a remarkable 20% growth year-on-year.
By yearend, the company is expected to complete more than 230,000 square meters of leasable space from its two rental brands of Megaworld Premier Offices and Megaworld Lifestyle Malls all over the country.
MCKINLEY HILL. The 50-hectare McKinley Hill in Fort Bonifacio celebrates its 15th anniversary this year and serves as a home to 90,000 office workers.
Megaworld Lifestyle Malls
Just a few weeks ago, the company announced that it plans to expand its Megaworld Lifestyle Malls footprint outside of Metro Manila with the opening of 8 new malls and commercial centers in key regional centers in the next three years. The plans will cover as much as 200,000 square meters of fresh retail inventory until 2022.
The company’s hotel operations under the Megaworld Hotels brand became the fastest growing segment during the first half of 2019, soaring 80% to P1.3-billion from P715-million last year.
Megaworld Hotels is expected to add another 1,000 room keys this year with the scheduled openings of Belmont Hotel Boracay and Savoy Hotel Mactan Newtown before year-end.
Megaworld Hotels now has 8 homegrown hotels across the country: Richmonde Hotel Ortigas, Eastwood Richmonde Hotel, Richmonde Hotel Iloilo, Savoy Hotel Manila, Savoy Hotel Boracay, Belmont Hotel Manila, Hotel Lucky Chinatown, and Twin Lakes Hotel.
Masterplanned townships, lifestyle communities
Celebrating its 30th year in the real estate industry, Megaworld already has 24 masterplanned townships and integrated lifestyle communities across the country, namely: Eastwood City in Libis, Quezon City, (18.5 hectares); Newport City in Pasay City (25 hectares); McKinley Hill (50 hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and Forbes Town (5 hectares), all in Fort Bonifacio, Taguig City; The Mactan Newtown in Lapu-Lapu City, Cebu (30 hectares); Iloilo Business Park in Mandurriao, Iloilo City (72 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares); Boracay Newcoast in Boracay Island (150 hectares); Twin Lakes in Alfonso, Batangas near Tagaytay (1,200 hectares); ArcoVia City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Piñas City (62 hectares); Eastland Heights in Antipolo, Rizal (640 hectares); Suntrust Ecotown in Tanza, Cavite (350 hectares); Maple Grove in General Trias, Cavite (140 hectares); The Hamptons Caliraya in Lumban-Cavinti, Laguna (300 hectares); The Upper East (34 hectares) and Northill Gateway (50 hectares) both in Negros Occidental; Capital Town Pampanga beside the Pampanga Provincial Capitol in the City of San Fernando (35.6-hectares); Westside City in the Entertainment City in Paranaque City (31 hectares); and Highland City in Cainta, Rizal (24 hectares). (Press Release)