Megaworld adds ₱10 billion to Cebu township investment
The developer says investment in The Mactan Newtown will reach ₱40 billion, with further development planned over the next 10 years.
Megaworld Corp. says it is committing another ₱10 billion to The Mactan Newtown in Cebu’s Lapu-Lapu City, taking its investment in the township to ₱40 billion. The funding will support continued development of the 30-hectare site over the next 10 years, the company said.
The developer’s planned projects include Mactan World Museum, which is scheduled to open in 2027. The museum is intended to showcase Mactan’s heritage and explain the island’s role in Philippine history.
Megaworld president and CEO Lourdes Gutierrez-Alfonso said the initiatives were intended to create opportunities for tourism, culture and investment in Lapu-Lapu City. She said the company wanted the township to draw more visitors and opportunities.
The company and the city government have also unveiled a marker recognising the township’s designation as Lapu-Lapu City’s tourism, culture and investment capital. The development has more than 1,000 hotel rooms across Savoy Hotel Mactan and Mercure Mactan Cebu.
