MANILA - Megaworld Corp said Monday its unit, Global-Estate Resorts Inc, will build a new residential complex in Ortigas Center that could generate up to P8 billion in sales.
The 36-story building called The Fifth will target young families, professionals with studio units up to 37 square meters, one-bedroom units up to 86 sqm, two-bedroom units up to 137 sqm and three-bedroom units up to 229 sqm, Megaworld told the stock exchange.
The Fifth is expected to be completed by 2024, the company said. It is so named as it is the fifth residential cluster to rise at GERI's Renaissance development in Ortigas Center.
Megaworld currently has 5 tourism estates and 2 lifestyle communities nationwide covering more than 3,000 hectares of land. GERI said more than 70 percent of its income comes from residential sales.