Megaworld to hike capital spending for Cavite township

By TED CORDERO, GMA News

Andrew Tan-led property giant Megaworld Corp. is increasing its capital spending for its 140-hectare Maple Grove township in General Trias, Cavite as it plans to expand the integrated urban township.

Megaworld first vice president for sales and marketing Eugene Em Lozano said the property developer is “recalibrating the P15 billion capex for Maple Grove.”

“Because we have additional plans and additional features that we want to incorporate here in this township that’s why we want to recalibrate,” Lozano said.

Lozano did not elaborate on Maple Grove's expansion plans, but said a separate press conference will be held to discuss further details.

For his part, Megaworld senior assistant vice president and head of public relations and media affairs Harold Geronimo said, "Definitely we’re increasing the capex because of expansion programs and the ramping up of construction activities."

At a press event in General Trias, Cavite on Thursday, Megaworld unveiled its plan to build its first upscale residential village inside the Maple Grove township—Maple Grove Park Village.

Lozano said the company is expecting to generate P6.5 billion in sales from the project. He added that lots will be ready for turnover to owners by 2026.

Maple Grove Park Village will be a 22-hectare luxury resort-inspired residential neighborhood with 377 lots ranging in size from 280 square meters to more than 500 square meters.

The project is designed by global design firm Wimberly, Allison, Tong & Goo (WATG) – the same group behind destinations such as Shangri-La Maldives, Sofitel Bali in Indonesia, Atlantis The Palm in Dubai, as well as Shangri-La Boracay and Hilton Manila here in the Philippines.

“Maple Grove Park Village is inspired by contemporary tropical architecture that naturally exudes a sense of ease and warmth perfectly suited for a resort-style residential setting. The Village will be strategically located in the more secluded part of Maple Grove to give residents utmost exclusivity and privacy, while still allowing them to have access to all the modern conveniences that the township has to offer,” Lozano said.

The entire Maple Grove township is considered Cavite’s first-ever modern central business district.

The integrated urban development will feature residential condominiums, office towers, a lifestyle mall, and a transport hub.

Construction for the 10-year project began in 2019.

The Maple Grove township is about 30 to 45 minutes away from Makati and Fort Bonifacio and can be accessed via the Coastal Road and the Manila–Cavite Expressway (CAVITEX).

The township will also be accessible to future road networks and key infrastructure projects, including the LRT1 Cavite extension, the Sangley Point International Airport, the CAVITEX-CALAX link, the Cavite-Tagaytay-Batangas Expressway (CTBex), and the Bataan-Cavite Interlink Bridge. —**VBL, GMA News

Source Links: **https://www.gmanetwork.com/news/money/content/832998/megaworld-to-hike-capital-spending-for-cavite-township/story/