TAN-LED property developer Megaworld Corp. said it is building a P1.2-billion modern museum inside its 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu.

The company aims to complete and open the Mactan World Museum by 2027, Megaworld said in a statement to the stock exchange on Thursday.

The museum will be built along Newtown Boulevard, right in front of Megaworld鈥檚 8 Newtown Boulevard residential condominium.

It will display a collection of historic artifacts curated by Dannie Alvarez, president of the Alliance of Greater Manila Museums, Inc. and former head of the Committee on Museums of the National Commission for Culture and the Arts, the company said.

鈥淭he museum will lend a visual retelling of the travel and arrival of Portuguese explorer Ferdinand Magellan and his crew in Mactan, his defeat against fearless tribal leader Lapu-Lapu, and the Hispanic heritage of the Manila Galleon trade,鈥 Megaworld noted.

鈥淭he museum will feature five main exhibit galleries on the second-floor showcasing collections, artifacts, replica mementos, and interactive virtual displays related to various influences and historical events between the Philippines and Spain. These subjects include Spain鈥檚 quest for spices, the Kingdom of Sugbu, Magellan鈥檚 early expeditions, and the Battle of Mactan, among others,鈥 it added.

It will also feature two performance halls: Flamenco Studio and a Multimedia Room. These can be combined into one main hall, accommodating approximately 270 people.

Additionally, Megaworld said that the Mactan World Museum will offer various activities centered on Filipino-Spanish traditions and culture. These activities include a seasonal bazaar showcasing Cebu鈥檚 main delicacies, a guitar-making and retail area, and a self-operated Filipino-themed photo studio.

鈥淚t has always been part of our townships鈥 mission and identity to celebrate the arts, culture, and heritage of every location where we are present. We are excited to bring our plans to fruition for the Mactan World Museum here in Lapu-Lapu City, a destination that plays a big historical significance as far as the Philippines-Spanish heritage is concerned,鈥 Megaworld Lifestyle Malls Head Graham M. Coates said.

鈥淏eing at the center of The Mactan Newtown, this museum will provide locals and tourists with a creative avenue to connect, share interests as a community, expand knowledge, and form a deeper appreciation not only for Mactan but also for our nation鈥檚 history,鈥 he added.

In addition to the museum, the Mactan Township will include the two-level Mactan Expo Center.

The township features various properties, including the 547-room Savoy Hotel Mactan Newtown, the 550-room Belmont Hotel Mactan, and the Mactan Newtown Beach.

It also includes residential condominium developments, office towers, schools such as the Newtown School of Excellence, retail shops, service outlets, and restaurants.

On Thursday, Megaworld shares went down by 0.56% or one centavo to P1.79 apiece. 鈥 Revin Mikhael D. Ochave