Facade of Bryant Parklane, the second residential condominium in Capital Town, Pampanga
MEGAWORLD Corp. continues to expand its 35.6-hectare township in San Fernando, Pampanga with the launch of a new residential project expected to generate P850 million in sales.
The property firm of tycoon Andrew L. Tan said in a statement Tuesday that it will be launching Bryant Parklane in Capital Town Pampanga. The 16-storey tower will offer a total of 463 units with studio layouts sized up to 28.5 square meters (sq.m.) and one-bedroom units up to 41 sq.m.
The project will feature a bi-level lobby with functional shared spaces and a receiving area. It will also house an indoor bike rack, a daycare center, a turf lounge, a pingpong café, and a library.
Other amenities will be located on the building’s third level, including adult and kiddie pools, a function hall, indoor and outdoor fitness centers, covered outdoor lounge, outdoor play area, and jogging path.
Some retail areas will also be placed at Bryant Parklane’s ground level.
“In Bryant Parklane, we want to encourage interaction among residents, and at the same time, foster a sense of community. The lobby will become a venue for residents to hang out and interact with each other at any given time of the day and night,” Megaworld Pampanga First Vice- President for Sales and Marketing Eugene Em Lozano said in a statement.
Megaworld expects to complete the building by 2024.
Bryant Parklane will be the company’s second residential tower in Capital Town, following the launch of the 12-storey Chelsea Parkplace with 193 units last year.
Prior to the introduction of residential projects, Megaworld initially launched a retail strip called Shophouse District in the township. The district offers 98 lots ranging from 276 to 680 sq.m., which are expected to be developed into retail and food outlets, pet shops, fashion boutiques, and other businesses.
Megaworld said in 2017 that it will be spending P30 billion to develop Capital Town in a span of 10 years. The township sits on the site of the former Pampanga Sugar Development Company located near the Pampanga Provincial Capitol.
The property giant’s net income attributable to the parent grew by 16% to P3.8 billion in the first quarter of 2019, driven by strong sales from its residential segment and higher rental income. Consolidated revenues also surged 15% to P14.9 billion.
Megaworld has committed to spend P65 billion in capital expenditures this year to support property development across its 23 townships. About 20% of the budget will also be used for land acquisitions and investment properties.
Shares in Megaworld rose 0.56% or three centavos to close at P5.40 apiece at the stock exchange on Tuesday. — Arra B. Francia
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