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Manila Bulletin devider Business devider Megaworld raises Bacolod townships capex to P45 B

Megaworld raises Bacolod townships capex to P45 B

Published May 2, 2022 03:14 pm

Megaworld Corporation is increasing the capital spending budget for its two Bacolod townships to P45 billion as it ramps up construction activities of 34-hectare The Upper East.

In 2015, Megaworld announced that it is pouring in P35 billion to develop two townships in Negros Occidental – the 50-hectare Northill Gateway in the boundary of Talisay City and Bacolod City, and The Upper East – over a period of 10 years.

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“We are adding P10 billion more to our investment for The Upper East as we see great potential and opportunities for this new township, which is now fast rising to be Bacolod’s first modern central business district,” said Megaworld Visayas Vice President for Sales and Marketing Jennifer Palmares-Fong.

In The Upper East, the company has already completed the construction of the 12-storey One Regis, its first residential condominium project, which is due for turnover within the year.

Just recently, the company topped off the second tower, the 14-storey Two Regis, and is set to be completed next year.

Two more condominium towers are in the construction pipeline, the 14-storey One Manhattan and the recently-launched 12-storey Herald Parksuites. So far, the company also has around 1,000 units inventory in The Upper East.

“Our first BPO office tower development, No. 1 Upper East Avenue, has also started its construction. Soon, we will also begin the construction of our commercial developments in this township. Indeed, exciting times are up ahead in The Upper East,” said Palmares-Fong.

Continuing its rise as the city’s first master-planned mixed-use community, The Upper East will soon have its own Megaworld Lifestyle Mall, commercial parks, hotel, church, and other institutional and recreational facilities.

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