Daily Newsletter

27 September 2023

Daily Newsletter

27 September 2023

Megaworld to build new residential tower in Taguig City

The property will feature advanced water and energy conservation systems.

September 27 2023

Real estate company Megaworld is set to build its sixth residential tower within the Uptown Bonifacio township in Taguig City in the Philippines.

The 54-storey Uptown Modern tower will include more than 1,000 units, ranging in size from 49m² studios with and without a balcony to one, two and three-bedroom units with or without a balcony or veranda.

Each unit will be outfitted with wireless home devices with remote access. This will allow residents to operate lighting fixtures and other smart appliances.

Megaworld sales and marketing executive vice-president Noli Hernandez said: “For Uptown Modern, our vision is to cater to the evolving needs of today’s condo dwellers by developing an all-in-one residential address that integrates luxury and sustainability.”

The six sky gardens on the property’s 14th, 27th, 39th and 47th floors are marked as highlights of the tower’s facade.

The ground floor of the property will also include retail areas.

The sixth floor will feature amenities such as an infinity pool with a whirlpool bath and pool deck, lounge areas, a zen reading area and an outdoor gym.

Uptown Modern residents will have access to e-vehicle charging stations on its seven basement and podium parking floors.

The building will also include features to support water and energy conservation such as a rainwater harvesting and re-use system and a material recovery facility.

The project is expected to be completed by 2032.

South-East Asia Construction Market Dynamics

Per GlobalData analysis, the South-East Asia construction industry in 2023 is dominated by Indonesia, though the country will see a slowdown compared to 2022 due to elevated building material prices, weak commercial property demand, high interest rates and a softening of external demand. The construction industry in the Philippines is estimated to register a AAGR of 7.2% between 2024 and 2027, supported by the government’s focus on the development of the country’s rail and road transport and energy infrastructure.

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