Township developer Megaworld, through its subsidiary Global-Estate Resorts Inc. (GERI), is investing P5 billion over the next decade to develop a 117-hectare integrated lifestyle community in the highlands of Cagayan de Oro City.
Dubbed The Upper Central, the project is located along J.R. Borja Road in the highlands of Barangays Gusa and Indahag.
It will feature residential villages, a pedestrianized commercial and shophouse district, mixed-use developments, and a town center with scenic views of Macajalar Bay and the Malasag Mountain Range.
Lifestyle district
“We are envisioning building a whole new lifestyle district in this higher part of Cagayan de Oro.”
“The views are amazing and breathtaking, and we are excited about how this area will be transformed into a vibrant community,” said Monica T. Salomon, president of GERI.
The township, which reaches an elevation of around 245 meters above sea level, will include a central park, landscaped open spaces, viewing decks, mountain and bike trails, and an adventure park.
Approximately 40 percent of the development will be allocated to green and open spaces, including roads.
Strategically situated just 10 to 15 minutes from the downtown area and less than an hour from Laguindingan International Airport, The Upper Central aims to capitalize on its accessibility and the economic potential of the city.
Gateway
“Ever since, we have set our eyes on Cagayan de Oro City because this is the gateway to many parts of Northern Mindanao," said Kevin L. Tan, president and CEO of Alliance Global Group, the parent company of Megaworld.
"For the past years, our Group has been carefully evaluating the concept of development that we want to put in this bustling city. Now is the perfect time to take part in the booming real estate industry on this side of Mindanao,” he added.
Cagayan de Oro is the second-richest city outside Metro Manila in terms of per capita GDP, according to data from the Philippine Statistics Authority.
Additionally, UK-based Oxford Economics ranked it as the third city in the Philippines with the largest urban economy, next only to Manila and Cebu.
Milestone development
“The Upper Central will be a milestone development as it is our 35th township launched in our 35th year in the Philippine real estate industry,” said Lourdes T. Gutierrez-Alfonso, president of Megaworld.
“As we develop this new township, our vision as a developer remains: to help uplift the lives of the community and also to help propel the local economy through the jobs that we create. We hope to impart this lasting impact to Kagay-anons and the rest of the people of Mindanao,” she added.
