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Newport City | Pasay City - Compiled Threads

A new residential resort (Marriot Hotel) & business center to rise at the Villamor AB near NAiA3.

Does anybody have a rendering or is it too early to tell.


Megaworld allots billions of pesos for Newport City
By Cai U. Ordinario, Researcher

PROPERTY developer Megaworld Corp. is setting aside billions of pesos for a high-class resort hotel and residential area beside the contested third terminal of the Ninoy Aquino International Airport and the 18-hole Villamor Air base golf course.

Set to be completed in three years at the earliest, Newport City is a joint venture among Megaworld, the Bases Conversion Development Authority (BCDA), and world-class Marriott Hotels.

The project is located in a 25-hectare lot owned by state-run BCDA, which stands to share in the proceeds of the development under an agreement forged with Megaworld, the company’s investor relations officer, John Hao, said.

“Its a normal joint venture with BCDA. Proceeds are split between the landowner and the developer. It varies depending on the type of development. [It can be] 70-30 percent to 80-20, in favor of Megaworld,” Hao said.

Megaworld is allotting P7 billion for the first phase of the development, which includes the 3.2-hectare residential resort and the 350-room Marriott Hotel, touted as the first of its kind in Metro Manila. Preselling of the residential units is ongoing.

The second phase would include several buildings eyed for business process outsourcing and call-center companies. A budget has yet to be drawn up for the second phase since the actual layout is still on the drawing board.

Under its joint venture agreement with Marriott, Mega*world will spend for the construction and pay the hotel operator a management fee for running the place.

Hao said the funds for the project would be internally generated, with preselling proceeds bankrolling the construction of the residential units. The units would be sold to high-end customers. A small 36.5-square meter-studio is selling for P1.9 million, while bigger units such as a 73-square meter two-bedroom combined unit fetches P3.8 million.

Other facilities include indoor badminton courts, tennis courts, pools, and small garden pockets scattered throughout the development.

Megaworld is also developing four other projects, including the 16-hectare Eastwood City, 50-hectare Mckinley Hill, and the Araneta Center Development, which would connect the Metro Rail Transit on EDSA and the Light Rail Transit on Aurora Boulevard.
 

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Megaworld earmarks P7B for mixed-use proj near NAIA-3
By Zinnia B. Dela Peña
The Philippine Star 10/14/2005


Upscale developer Megaworld Corp. is setting aside P7 billion over the next three to four years for the development of the first phase of Newport City, a mixed-use project near the Ninoy Aquino International Airport Terminal 3.

A joint venture with the Bases Conversion Development Authority, Newport City is envisioned as the home of the metro’s first and only paradise resort residences. It is also expected to be at par with top hotel and golf resorts in Asia.

Megaworld investor relations officer John Hao said the first phase involves the construction of the 350-room Marriott Hotel, a nature-centered residential area and a commercial-and-sport complex.

The hotel, to be managed by Marriott Hotels International B.V., is slated for completion in 2008. It is the first Marriott Hotel in Metro Manila and the second in the country after Cebu.

Hao said most of the capital expenditures for the project will be financed with internally-generated funds.

The company has already started pre-selling its residential units with prices ranging from P1.9 milllion to P3.2 million.

The second phase includes the development of a business park and a themed shopping and entertainment hub.

Megaworld expects to generate P150 million in recurring income a year from the airport hotel and retail and commercial operations.

Megaworld said its valuation of the property is actually lower than the government’s earlier assessment.

Megaworld focuses on the middle to high-end residential and office markets. It also has 43 percent owned subsidiary Empire East that caters to the lower to middle income market segment.

The company’s flagship development is Eastwood City, a 16-hectare cyberpark and mixed-use project. It is host to nearly one in every four business process outsourcing firms in the country like the call center operations of IBM and Citibank N.A.

Megaworld expects strong growth in the Philippine real estate sector this year as it aims to sustain the 30 percent net profit growth in the past two years.

The property developer had credited call centers for raising occupancy rates and rents in office buildings in Manila during the last three years.

Another major project is the 52-hectare residential enclave dubbed Mckinley Hill in Bonifacio Global City, which is expected to generate P16 billion in lot sales and P450 million in lease earnings every year.

Megaworld will spend around P8 billion over 10 years to fully develop McKinley Hill, a joint development with the government. The government owns the property, which used to be a part of a sprawling army camp near the financial district of Makati.
 

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I cant help but notice that most of the names of new things coming up in the metro are very famous foreign ones. The SoHO, which is a dept store, Bellagio which is a hotel in LasVegas, whatelse? Kensigton I think and many others, just search for them and now Newport? From Newport Beach which is a popular high-end residential area/city/etc in Orange County. Why not like Makiling City or Malarayat Condominiums?
 

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Add to that the Lancaster Residence in Cebu and the Kensington in FB, all hailed from UK, Fullerton Place which is basically the hotel in Spore, Fifth Avenue Place which is obviously Fifth Avenue in New York, cant we have a little bit of originality? There are so many aesthetically pleasing Filipino names out there.
 

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i think the ones who can appreciate are the overseas pinoys. the local ones haven't caught on. It's interesting how one's perspective is altered once you've stepped out of the box.
 

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OtAkAw said:
I cant help but notice that most of the names of new things coming up in the metro are very famous foreign ones. The SoHO, which is a dept store, Bellagio which is a hotel in LasVegas, whatelse? Kensigton I think and many others, just search for them and now Newport? From Newport Beach which is a popular high-end residential area/city/etc in Orange County. Why not like Makiling City or Malarayat Condominiums?
Add to that Eastwood's Orchard Road which is taken from Singapore, One Central Park, the three Lafayette condominiums which is from France, The Grand Eastwood Palazzo which sounds Italian.

California Garden Square's Anaheim, Burbank, Carlton, Dayton, El Dorado and Fairfax clusters also sounds foreign.

...and don't forget Forbeswood Heights' towers which are named, Agoho, Bauhinia, Cambridge, Dorchester, Evergreen and Florida.

Another one is Hamptons Place at BGC... and the list goes on.
 

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More Details on New Port City Development...
(taken from PinoyBroker.com)

New Port City is a 25 hectare urban resort development beside Villamor Golf Course. It will have the world class Marriott Hotel as a global partner to the development. Adjacent to the hotel are low density residential resort clusters, sports club, a Central Plaza commercial and entertainment hub that will be lined with quaint and cozy restaurants and also a business and technology park as well.

About the Residential Resort:
A few steps from the hotel is a secured 3.2 hectare residential enclave. Similar to Marriott Hotel, this low density residential area is also a resort, spa and located beside the Villamor golf course which could provide you a relaxing view of greenery in the city. The Residential Resort is comprised of mid rise Mediterranean inspired clusters. There are 3 phases: Montecito, Sarasota, and Pinehurst. Each phase would have varied resort amenities like pools, outdoor spa, playground, reflexology paths, butterfly gardens, aviar, putting greens, tennis courts, fitness statin, bridge, pond and indoor badminton courts.

Renderings of New Port City development can be seen at: http://www.pinoybroker.com/forum/index.php?showtopic=4577
 

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thomasian said:
...and don't forget Forbeswood Heights' towers which are named, Agoho, Bauhinia, Cambridge, Dorchester, Evergreen and Florida.
These names were taken from the streets in Forbes Park. Yeah, local developers like using foreign sounding names. Timberland Heights anyone?
 

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California Garden Square's Anaheim, Burbank, Carlton, Dayton, El Dorado and Fairfax clusters also sounds foreign.

Disneyland is in Anaheim, Burbank is a city in Los Angeles County, Fairfax is a street in Los Angeles
 

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3cr said:
More Details on New Port City Development...
(taken from PinoyBroker.com)

New Port City is a 25 hectare urban resort development beside Villamor Golf Course. It will have the world class Marriott Hotel as a global partner to the development. Adjacent to the hotel are low density residential resort clusters, sports club, a Central Plaza commercial and entertainment hub that will be lined with quaint and cozy restaurants and also a business and technology park as well.

About the Residential Resort:
A few steps from the hotel is a secured 3.2 hectare residential enclave. Similar to Marriott Hotel, this low density residential area is also a resort, spa and located beside the Villamor golf course which could provide you a relaxing view of greenery in the city. The Residential Resort is comprised of mid rise Mediterranean inspired clusters. There are 3 phases: Montecito, Sarasota, and Pinehurst. Each phase would have varied resort amenities like pools, outdoor spa, playground, reflexology paths, butterfly gardens, aviar, putting greens, tennis courts, fitness statin, bridge, pond and indoor badminton courts.

Renderings of New Port City development can be seen at: http://www.pinoybroker.com/forum/index.php?showtopic=4577
3cr, do u mind posting the rendering here? i went to that site, i even registered, but for some reason the attached image isn't showing. thanks :)
 
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