Township developer Megaworld has entered into a Memorandum of Agreement (MOA) with Manila Jockey Club, Inc. to purchase 2.2-hectares of prime real estate property in Sta. Cruz, Manila.

The property, which forms part of the historic 16-hectare San Lazaro Tourism and Business Park in the northern part of Manila, is seen to further boost Megaworld’s presence in the City of Manila.

“Currently, our big projects in the City of Manila are concentrated in Binondo district, particularly within our Lucky Chinatown project where we have a lifestyle mall, condominium towers, a cultural museum, and a hotel. When we finalize the purchase of this land in San Lazaro, this will surely be part of our township portfolio expansion in Metro Manila,” says Kevin L. Tan, chief strategy officer, Megaworld.

At present, Megaworld has around 300 hectares of land bank across the National Capital Region covering nine (9) integrated urban townships and lifestyle estates in Quezon City, Taguig City, Pasay City, Parañaque City, Las Piñas City, Pasig City, and the City of Manila.

In total, the company has close to 5,000 hectares of land bank across the Philippines.