Property developer Megaworld Corp. said Wednesday it expects to generate P5.2 billion in sales from a newly-launched residential condominium project along C-5 Road in Pasig City.
Megaworld said in a disclosure to the stock exchange the 50-story Arcovia Parkplace would offer 494 units, with sizes ranging up to 32 square meters for a studio unit and up to 195 sq. m. for a three-bedroom unit with balcony.
Arcovia Parkplace is the third residential tower to rise within the 12.3-hectare mixed-use township development Arcovia City.
Megaworld said the tower offers green and sustainability features that include occupancy sensors for hallway lightings, low flow rate fixtures for faucets in toilets and bathrooms, high energy efficiency rating for the major building equipment, rainwater harvesting and re-use facility and its own material recovery facility.
The new residential tower will also offer lifestyle amenities that include swimming pools, fitness center, playground, function hall, game room, daycare center, co-working spaces, garden and lounge areas.
All units of Arcovia Parkplace will have wireless smart home system and devices with WiFi router, the company said.
Arcovia Parkplace will be ready for turnover to unit buyers by 2029.
Meanwhile, Megaworld reported that it is rolling out the Township Analytics and Technology through TAT Lab, the first data science lab dedicated to a property development company in Asia.
The property firm said it is a part of its commitment to secure and safe townships including Arcovia City,
Megaworld TAT Lab aims to develop, deploy and improve machine learning models through the use of artificial intelligence to strengthen the safety and security of Megaworld townships.
“For quite some time, developers like us are racing towards the creation of smart cities and our Megaworld TAT Lab will be able to bring us to our vision of making truly ‘smart townships’ especially in the field of safety and security. We will announce more details about this big project soon,” Megaworld head of data analytics Francis Viernes said.