Megaworld Corp., the real estate arm of tycoon Andrew Tan, is set to start the development of a P30-billion integrated mixed-use project in San Fernando, Pampanga dubbed as Capital Town.
Megaworld first vice president for sales and marketing Eugene Lozano said during the launching of the project the company would transform the former site of the historic sugar central of Pampanga Sugar Development Co. into a modern central business district in Northern Luzon.
A big component of the project is the development of BPO buildings with a gross floor area of 300,000 square meters.
Lozano said the company was receiving a lot of inquiries from existing BPO tenants in Manila about the possibility of moving to Capital Town because of the large pool of workers in Pampanga and surrounding provinces.
Other components of the project are residential, civic and institutional facilities such as school, amphitheater and event venues, mall and retail hubs, hotel, a museum and a shophouse district.
“What we are building in Pampanga is a unique township concept that will truly bring out the best of the Kapampangan culture, tradition and history. In 10 years, Pampanga will see a CBD that is not only a showcase of homegrown businesses and entrepreneurs, but also a center for local arts and culture,” Lozano said.
The 10-year development is the first integrated urban mixed use project of Megaworld north of Luzon. It will also be the 21st township development of Megaworld in its portfolio.
Lozano said the company would sell 98 commercial spaces within a six-hectare development that would generate P1.7 billion in proceeds.
“We will be selling lots to those who want to build their businesses, and at the same time, live there. The first two lower levels may be dedicated for the business while the topmost floor may be used for their residence. This is a unique offering that we will introduce in Capital Town to help local entrepreneurs and businesses,” Lozano said.