Property developer Megaworld Corp. is venturing into industrial estate development, with an initial investment of P5 billion to develop a 200-hectare property in Tanza, Cavite.
Megaworld senior vice president Jericho Go said in a news briefing the company, through wholly-owned unit Suntrust Properties Inc., would develop Suntrust Ecotown into a world-class industrial estate for light to medium export-oriented industrial complex with residential, commercial and institutional establishments.
“Megaworld’s entry into industrial park development leads us to an innovative blueprint that will entice more foreign locators to invest in the Philippines. Suntrust Ecotown is designed to respond to the needs of dynamic export-oriented industries and to exceed their expectations by offering lifestyle amenities never seen before in any industrial park,” Go said.
Suntrust president Harrison Paltongon said the Suntrust Ecotown would be the first industrial park accredited by Philippine Economic Zone Authority with lifestyle amenities.
The company said of the initial 200 hectares, about 111 hectares would be allotted for the industrial park while another 40 hectares would be dedicated for the expansion of the industrial park and the integration of lifestyle amenities such as a hotel, commercial and retail hubs, driving range, mini golf course, putting greens, swimming pool, jogging path, basketball and badminton courts and open parks.