The Market Monitor Minding the Nation's Business
PH1 World Developers, a subsidiary of Megawide Construction Corporation, and real estate firm ProFriends recently signed an agreement to execute a joint venture in Imus City to create the “Metro Living with Nature Concept”.
The joint venture will build One Lancaster Park (OLP) featuring nine eight-story buildings with basement parking.
Under the agreement, PH1WD will develop and operate OLP’s inaugural residential towers 1 and 2 – the project’s phase that will comprise 191 units each.
PH1WD President Gigi Alcantara said the project will become the first vertical development within Lancaster New City.
“It is fitting to launch our unique Metro Living with nature concept in Imus because the province of Cavite itself is a convergence of urban development and natural surroundings,” Alcantara said.
PH1WD parent Megawide will lead the construction works at OLP, including roadworks and the development of sites and amenities.
Richard Tay, ProFriends Commercial Business Group head, for his part, welcomes the Imus City project, expressing optimism that it would attract potential homebuyers and those who are looking for additional investment.