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December 22, 2008

Philippine developer set to launch fifth condo in Manila

Developer Megaworld Corp. remains bullish on its latest project in Makati City as it prepares to break ground for the residential condominium development, reported GMA news on its website.

In a statement, Megaworld said its Greenbelt Madison project is expected to earn 1.4 billion peso in sales revenue. The project is the company's fifth in the Greenbelt area. It will ground break next year and turnover is seen in the latter part of 2012.

The 31-storey building will rise along Salcedo St. in Legaspi Village and is just a block away from Ayala Avenue, the country's main financial artery.

The project will have 276 executive studios and two-bedroom units. Megaworld said it will deliver all units fully furnished upon turnover.

“Despite the ongoing financial crisis abroad, we are quite confident with Greenbelt Madison because of its prime location near Ayala Avenue and Makati Medical Center. We expect it to sell out in the next few months…," said Clifford Legaspi, Megaworld vice-president for marketing and project head.

Legaspi added that given the development's location, the company is targeting to sell the units to "doctors, executives, entrepreneurs and investors".

Megaworld has earlier finished construction of Greenbelt Parkplace and Greenbelt Radissons. It is currently building Greenbelt Chancellor and Greenbelt Excelsior.

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