Top urban township developer Megaworld Corporation reported that it has sold around 70 percent of the Shophouse District in its Capital Town development in San Fernando, Pampanga.
The 6.3-hectare Shophouse District, composed of 98 lots ranging from 276 square meters to 680 square meters, allows lot owners to build their own three-level shophouse in neo-classical and art deco architecture.
They can use the ground and second levels of the shophouse for commercial purposes while the third level may be used as business owner’s residence.
Businesses such as retail, food and beverage, pet shops, fashion boutiques, out-patient clinics, product showrooms, and boutique hotels may be allowed in the Shophouse District.
Al Fresco lots are also available to those who require outdoor seating areas such as cafés and restaurants.
The district will adopt a “walkable” concept where people can just freely stroll along cobblestone-inspired alleys and walkways while enjoying architecture as well as urban and heritage art installations.
Almost 40 percent of the entire Shophouse District is dedicated to open spaces including alleys, roads and easements.
“The core concept and idea of the Shophouse District is to provide a venue for local entrepreneurs of Pampanga and nearby provinces to showcase their products and masterpieces by building their businesses with us,” said Megaworld First Vice President for Sales and Marketing Pampanga Eugene Em Lozano.
Megaworld expects R1 billion in sales from the Shophouse District, which was formally launched in June last year. Turnover of lots to owners will start by yearend of 2019.
Current prices of lots in Capital Town’s Shophouse District range from P12 million to P32 million. About 10 months after its launch, prices of shophouse lots in Capital Town have already increased by 20 percent.
“We expect property prices to even soar higher once we get near completion of the Shophouse District’s land development,” revealed Lozano.
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