The Mactan Newtown to generate 45,000 jobs in five to seven years
March 27, 2014
Megaworld’s 28.8-hectare township poised to become the first cyberpark with its own beach
Megaworld, the country’s leading real estate developer and the no. 1 business process outsourcing (BPO) developer and landlord, is expected to generate around 45,000 jobs in its 28.8-hectare The Mactan Newtown township in Lapu Lapu City, Cebu, in the next five to seven years.
The company is fast-tracking the construction of its state-of-the-art office towers to boost more employment in Cebu, particularly in Mactan Island.
Megaworld chief strategy officer Kevin L. Tan said the company is constructing at least five to ten more office towers in the township by 2021 to reach the target of 150,000 square meters of office space inventory.
“Due to an overwhelming demand of office spaces and significant growth of the BPO industry in Cebu, we are doing a massive infrastructure push in The Mactan Newtown. We have received inquiries left and right from top BPO companies that are interested to set up operations in our township,” said Tan.
The strong interest among BPO companies was further propelled by the recent announcement that the township will have its own beach. In January, Megaworld announced that it is developing the former Portofino Beach to form part of the township.
“The Mactan Newtown will be the first cyberpark to have its own beach. This will make living, working, and playing in our township more exciting than what it used to be,” says Tan.
The township’s first office tower, One World Center, is now fully leased out by two international BPO-IT companies – US-based Enfra USA and Results Manila. Both companies employ more than 2,000 employees today.
Township’s second office tower to open in June
The second office tower, Two World Center, was recently topped off and is expected to open for operations this June. Canada-based Manulife, one of the oldest life insurance firms in the country, has leased out the entire building for its operations in Cebu.
The six-storey corporate building with over 7,000 square meters of spaces will be able to accommodate around 1,200 employees.
“We now have three BPO locators in the township and all of them are first time locators in Cebu. This is a clear indication that several BPO companies are eyeing on Mactan as their next hub, and that a Megaworld township remains to be their top choice,” explains Tan.
By second half of this year, the offices at the 8 Newtown Boulevard will also start operations, offering an additional 35,000 square meters of office space inventory. Once fully occupied, the tower will generate an additional 10,000 employees in the township.
“This year, The Mactan Newtown will become a bustling cyberpark of Central Visayas, much like its predecessors, Eastwood City and McKinley Hill,” says Tan.
The Mactan Newtown has been declared a ‘Special Economic Zone’ by President Benigno S. Aquino III under presidential proclamation number 407. This places the township development under the Philippine Economic Zone Authority (PEZA), which allows businesses inside to enjoy various privileges such as tax incentives and holidays.
Megaworld has earmarked P20 billion for the development of The Mactan Newtown in the next five to seven years.