Demand for office spaces especially for business process outsourcing (BPO) is seen to boost development in McKinley Hill, the 50-hectare mixed-used township project in Fort Bonifacio of property developer Megaworld Corp.

Megaworld, which has built a reputation for developing residential condominium and BPO offices, said it expects to generate up to P60 billion in investments in the township over the next five to seven years.

Megaworld on its own is investing more than half of that amount at P33 billion. McKinley Hill is its biggest and most modern township to date.

Megaworld is investing P12 billion for the construction of BPO offices, P3 billion to develop the retail and mall aspect, and P18 billion for the residential component up to 2014.

But other locators/investors are seen investing P18 billion in office spaces, P7 billion for the commercial component which would also include educational institutions and embassies and P2 billion for the residential component.

All told, Megaworld said P30 billion would be pumped in office spaces, P20 billion in the residential component and P10 billion for the commercial component.

Andrew Tan, Megaworld chairman and chief executives officer, said McKinley Hill has 12 project elements all in various stages of development. These are Mediterranean-themed single detached homes in McKinley Hill Village; townhouses; the exclusive mid-rise condominium called McKinley Hill Garden Villas; BPO offices; high-rise luxury residences; embassies; a college; international schools; a mall; sports amenities; an events venue; and a hotel.

Tan said more than 80 percent of the residential lots in the Mediterranean-style McKinley Hill Village have been sold and are ready for house construction. Tower 1 of the Stamford Executive Residences, which will cater to BPO employees, has started construction.

One World Square, the first BPO building in the area, will be finished in May this year. The building offers 30,000 square meters of office space and has been approved as an information technology zone by the Philippine Economic Zone Authority.

Megaworld said it would construct at least two new BPO office buildings per year in McKinley Hill Cyberpark.