Frequently Asked Questions

About the Developer

1. Who is Megaworld Corporation?

Megaworld Corporartion, founded by Dr. Andrew Tan, is the country's premier Real Estate Developer. The company is primarily engaged in developing mixed-use planned communities, incorporating residential, commercial, educational, and leisure components.

 

2. What are the developments of Megaworld in Fort Bonifacio?

Megaworld has four townships, or mixed communities, in Fort Bonifacio: McKinley Hill, McKinley West, Forbestown Center, and Uptown Bonifacio.

 

3. What are the recognitions and awards received by Megaworld?

Southeast Asia Property Awards Best Developer of the Year (2016)
Philippine Property Awards Best Developer of the Year (2016)

Click here to see the full list.

 

4. Where is the office located?

The head office of Megaworld is located at The World Centre 330 Sen. Gil Puyat Avenue Buendia, Makati City.

The Sales and Marketing Department is located at 12/F Commerce & Industry Plaza Bldg. 1030 Campus Avenue cor. Park Avenue, McKinley Hill, Fort Bonifacio, Taguig City.

 

5. Where are the projects' showrooms located?

Showrooms are located at: 1) Forbestown Center Showroom 26th St. cor. Rizal Drive Crescent Parkwest, Bonifacio Global City; and 2) McKinley Hill Information Center Florence Way cor. Upper McKinley Road, McKinley Hill, Taguig City.

 

About the development:

1. What are the views from each side?

It would depend on the township and the unit selected. Rest assured though, each unit is given its own unique view.

 

2. Who is the target market of the project? How about the target investors for rental income or for reselling the property?

The townships aim to improve the Philippine Landscape. Anyone and everyone are Megaworld clients.

 

3. How many residents reside in the township?

It is highly dependent on the project. Most projects have at least 200 to 800 units depending on the floor area and building height.

 

4. Is the development environment-friendly? Handicap-friendly? Pet-friendly?

All our developments are environment- and handicap-friendly as we abide by the rules and regulations set by the government. As for the pets, the guidelines would usually set by and depend on each condominium corporation, which members are made up of unit owners.

 

5. How is the traffic of people in the area?

The townships have their own selling points. McKinley Hill's complete community attracts people of various demographics. Uptown Bonifacio attracts people who are interested in a vibrant and youthful environment.

 

6. Is the building earthquake proof?

Megaworld abides by the laws and regulations set by the government in terms of strength and stability of a development. Developments are able to withstand up to Magnitude 8.0. On the other hand, there's no such project that exists and claims it's "Earthquake Proof." Most projects are earthquake resistant.

 

7. Is the entire building Wi-Fi ready?

Most of the developments in Megaworld at the Fort equip their lobbies and amenities with Wi-Fi.

 

8. Are there separate parking slots for the retail concessionaires and guests?

Yes, even if the commercial area is interconnected, parking is still separate for commercial and residential.

 

9. What are the nearby establishments?

For Uptown Bonifacio, there are two main commercial establishments: Uptown Parade and Uptown Mall. These developments have several features which include 24-hour establishments, a chapel, food halls, and several restaurants to satisfy your foodie cravings. For McKinley Hill, there's the one-of-a-kind Venice Grand Canal Mall that features a unique gondola ride and the first and only Venetian-inspired mall in the country.

 

10. What is the brand influence for the development?

There's no specific brand influence for the development—but we can say that there are cities in the world that inspire our townships.

 

About the sales process:

1. How do I reserve a unit?

When you're already ready to reserve the unit, you have to complete the following documents: Reservation Agreement Form, Buyer's Information Sheet, Specimen Signature Form and Check Issuance for the Reservation Fee. Rest assured, your property specialist will be there every step of the way.

 

2. How do I settle the turnover balance?

Once the unit is ready for turnover, you may coordinate with our Accounts Management Team and designated specialist handling the account to check the options in settling your balance. Our available options are as follow: cash payment, bank loan, and in-house financing.

 

3. When will I receive your Contract to Buy and Sell (CTBS)?

After 24 months of timely payment to and receipt–in cleared funds–of the payments due, based on the agreed payment schedule and upon receipt of the documents required for release thereof, such as duly executed Buyer's Information Sheet and Valid ID, the CTBS will be drafted and prepared for client signature and notarization. The request to expedite the contract when client's payment is in cash or with downpayment may be submitted. However, this is subject to management's approval.

 

About the purchased unit:

1. Where do I claim the keys to the unit?

Quality control would turn over the keys to the admin once the unit is ready to be occupied. Admin will then turn over the keys to the clients once everything has been settled. During the turnover process, the clients are advised to prepare the settlement of turnover balance.

 

2. Who is the administration of the condominium?

The condominium corporation, which is made up of unit owners, will manage the condominium with minimum supervision from First Oceanic Property Management (FOPM).

 

3. What is the garbage disposal system and why is this the choice of the developer?

Garbage disposal is done by Property Management; often through a garbage collection system. This is the developer's choice as it offers a more sanitary and convenient approach as compared to other methods (garbage chute, et al.)

 

4. Are there smoke detectors? If yes, how many?

Yes, smoke detectors and fire sprinkler systems are located throughout the entire development. There is an ample amount that is able to secure the entire building.

 

5. What are the brands of the appliances provided? How about the finishing?

Brands are not usually announced, but clients can rest assured that top-of-the-line brands will be used once the development is ready to be delivered. Finishing are ready and on-display in our showrooms so the clients will have an opportunity to inspect them up close.

 

6. Who is in-charge of maintaining the common areas and amenities?

Maintenance of common areas and amenities are handled by FOPM through the Condominium Corporation.

 

7. Who are the members of the Condominium Corporation or Homeowners Association (HOA)?

Unit owners are the members of the Condominium Corp., the bigger the unit, the bigger the share in the Corporation.

 

8. How much is the association dues? How about the computation of ttaxes and fees after turnover?

Association dues will vary, but as of the moment, MKH projects have an estimated association due of roughly P100/sqm. Taxes and fees will depend on the size of the unit as well.

 

About the investment opportunity

1. What is the rental or resale potential of the development?

If the unit will be rented out once it is turned over, the ROI of our different projects range between 10-15% per annum. Rental of the unit depends not only on the location but also on furnishing and size of the unit, among others.

 

2. Why is Fort Bonifacio considered the best investment location?

Fort Bonifacio is considered as the best investment location for a number of reasons. The biggest might be the continued growth and development of the area.

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