Megaworld to build P12-billion township in Batangas with The Farm at San Benito operator

Megaworld Corporation is set to spend P12 billion for an “active wellness township” in Batangas in partnership with the owner and operator of The Farm at San Benito, marking its 33rd township development in the country.

The San Benito Private Estate will be located 20 minutes from Lipa City proper and include housing residential village lots, low-rise residential condominiums, an international brand hotel, a sports and leisure hub, commercial shops, and community gardens.

The township will also be directly connected to The Farm at San Benito, with residents and visitors given access to the facilities and amenities of the wellness resort.

“Part of our company’s direction is to be able to build sustainable communities that integrate holistic health and wellness, as well as longevity to everyone who will live there, stay there, or visit there,” Megaworld president Lourdes Gutierrez-Alfonso said in an emailed statement.

With The San Benito Private Estate, Megaworld currently has 33 master planned integrated urban townships, integrated lifestyle communities, and lifestyle estates across the country. It aims to close the year with 35 townships in line with its 35th anniversary.

Megaworld’s subsidiaries include the Richmonde Hotel Group International Limited, Eastwood Cyber One Corp., Empire East Holdings Inc., Global-Estate Resorts Inc., and Bonifacio West Development Corp.

The company reported a 10% growth in its net income for the first quarter to P5.0 billion, while its attributable net income climbed 8% to P4.4 billion. Consolidated revenues grew by 16% to nearly P19 billion.

On Monday, Megaworld also announced that it is "upgrading" its gift to gymnast Carlos Yulo from the original P24-million condo prize to a P32-million condo plus P3 million in cash, in honor of his winning a second gold medal at the Paris Olympics. — BM, GMA Integrated News