Megaworld targets P8-B sales from Makati project

Megaworld Corporation's Tallest Residential and Iconic Vion Tower Featured in Business World Online

By: Arra B. Francia

Business World Online | December 10, 2018 | 12:04 am

See the article below:

https://www.bworldonline.com/megaworld-targets-p8-b-sales-from-makati-project/

Vion Tower Standing Tall on the Corner of Chino Roces and EDSA Magallanes

MEGAWORLD Corp. looks to generate P8 billion in sales from its latest condominium which is set to become one of the tallest residential towers in Makati City.

In a statement issued over the weekend, the listed property developer said it launched the Vion Tower, a 57-storey residential tower set to rise along EDSA corner Chino Roces Avenue.

Vion Tower will offer studio units sized up to 31 square meters (sq.m.), one-bedroom (up to 51 sq.m.), and two-bedroom (up to 71 sq.m.) units. Some of the units will have their own balconies.

Megaworld said the project will feature a Smart Parcel Delivery System. This gives residents an automated receiving, claiming, and storage of parcels.

“Here, we want to offer residents with the basics of condo living plus the convenience of smart technology and design innovation, which can be seen in the lobby and even in the amenities,” Megaworld First Vice-President for Sales and Marketing for Makati Eugene Em Lozano said in a statement.

The installation of the Smart Parcel Delivery System forms part of Megaworld’s efforts to “future-proof” its developments, which includes incorporating digital technology, design innovations, and connectivity into its townships.

Amenities in the Vion Tower include a 25-meter lap pool, wading pool, function hall, fitness center, outdoor fitness area, children’s playground, day care center, relaxation lounge, and a library.

Vion Tower will also have two levels dedicated to retail shops, as well as a multi-level podium parking available to both residents and guests.

The company further highlighted the tower’s prime location, as it stands about two minutes away from the MRT Magallanes station. Vion Tower will also be about 10 minutes away from the Ninoy Aquino International Airport via Skyway, and about 15 minutes away from Entertainment City — a strip of integrated resort and casinos in Parañaque City and the Bay Area.

Megaworld expects to complete the tower by 2024.

Vion Tower will add to Megaworld’s inventory of more than 6,500 residential units across 28 residential towers in Makati City alone. The company said this makes it among the biggest condominium developers in the financial business district.

Megaworld is part of tycoon Andrew L. Tan’s Alliance Global Group, Inc., which also has investments in liquor, gaming, quick service restaurants, and infrastructure.

The company posted a net income attributable to the parent of P11.29 billion in the first nine months of 2018, 13% higher than the P9.98 billion it posted in the same period a year ago. This followed a 13% uptick in gross revenues to P39.88 billion. — Arra B. Francia