Megaworld launches P5.2-B residential condominium in Pasig

Arcovia Tower — COMPANY HANDOUT

MEGAWORLD Corp. launched its third residential condominium in its development in Pasig City from which it expects P5.2 billion in sales.

The 50-storey Arcovia Parkplace will be situated in the listed company’s 12.3-hectare Arcovia City located along Circumferential Road 5 (C-5) scheduled to be turned over by 2029.

In a press release, Megaworld said the new residential tower will be the company’s tallest residential tower in the development. It will offer 494 units ranging from a studio unit, without a balcony, at 32 square meters (sq.m.) to a three-bedroom penthouse, with a balcony, spanning up to 195 sq.m.

Amenities in the tower will be on the seventh level and will include swimming pools, pool lounge, raised lawn garden, multi-purpose sunken lawn, fitness center, outdoor fitness area, children’s playground, function hall, private dining room, game room, daycare center, and co-working spaces.

According to the press release, the tower will also have sustainability features including occupancy sensors for hallway lighting, low flow rate fixtures for faucets, energy-efficient equipment, a rainwater reuse facility, and a material recovery facility.

“All units of Arcovia Park Place will also be equipped with wireless smart home systems and devices with WiFi routers,” the company said.

Megaworld will also be rolling out an artificial intelligence (AI) technology through its Township Analytics and Technology (TAT) lab, which aims to strengthen the safety and security of its townships.

It will develop, deploy, and improve machine learning models through the use of AI for the safety and security of Megaworld’s 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,” Megaworld Head of Data Analytics Francis Viernes said.

On the stock market on Wednesday, Megaworld’s shares lost four centavos or 1.87% to P2.10 apiece. — Justine Irish D. Tabile