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Real estate news in the Philippines

Megaworld invests billions to transform Cebu into a top workation destination

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In a bold move to capitalize on the booming tourism and real estate sectors in Cebu, Philippines, property giant Megaworld has announced extensive new investments and developments in its Mactan Newtown township. This strategic expansion is set to attract both international investors and professionals looking for a blend of work and leisure in a tropical paradise.

Major infrastructural investments to boost tourism in Cebu

Megaworld is investing a significant amount of capital to enhance the tourism infrastructure of Mactan Newtown, which is located in Lapu-Lapu City. They have allocated a staggering ₱ 1.5 billion ($25.5 million) for the development of the Mactan Expo Center and an additional ₱ 1.2 billion ($20.4 million) for the creation of the Mactan World Museum. These developments reflect Megaworld’s confidence in the region’s growth potential and its commitment to transforming the area into a top-tier tourist destination. For foreign investors and real estate enthusiasts, this represents an excellent opportunity to invest in a rapidly developing area that is poised for significant appreciation.

The rise of Cebu as “workation” destination

Megaworld is adopting an innovative approach to modern living and working environments. The company is positioning The Mactan Newtown as a leading “workation” destination in Central Visayas. The new development strategy aims to merge work and vacation by leveraging the area’s scenic beauty and relaxed atmosphere. This is appealing to both domestic and international visitors who seek a balance between productivity and recreation.

For foreign professionals and digital nomads, this means access to high-quality living spaces with the convenience of workplace amenities right at their doorstep. It makes The Mactan Newtown an ideal location for those looking to relocate or invest in holiday homes.

Cebu’s real estate market on the rise

The real estate market in Cebu is currently experiencing a significant surge in demand, both from domestic and international buyers, for high-quality residential and commercial properties. As one of the most vibrant economic centers in the Philippines, Cebu continues to attract investors due to its thriving tourism sector, growing IT and business process outsourcing industries, and strategic geographic location. This region’s development is further supported by government initiatives aimed at improving infrastructure and public services, which enhance its appeal as an investment destination.

The current market trend is bullish, and it has given Megaworld an opportunity to expand its portfolio in the Mactan Newtown region. The company is planning to take advantage of the increasing demand for upscale residential units and commercial properties by developing properties that cater to a diverse clientele. This growth presents a promising opportunity for foreign investors who are looking to enter a market with high potential for both capital appreciation and strong rental yields.

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Written by Matt Timmermans

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