Property developer Mega-world Corp. on Thursday said it is investing some P35 billion in the next 10 years to build two townships in Negros Occidental, as part of the company’s efforts to expand its development outside of Metro Manila.
The first township, to be called Upper East, will be on a 34-hectare property formerly housing the Bacolod-Murcia Milling Co. on the eastern side of Bacolod City.
It is bounded by Burgos Avenue on the north, Lopez Jaena Street on the west and Circumferential Road on the east, and is across the New Government Center. “This prime location, which the locales simply refer to as ‘East,’ is now known to be Bacolod’s booming commercial and business process-outsourcing [BPO] district,” Megaworld said in a statement.
The name comes from New York City’s affluent Upper East Side district.
Megaworld said the development will be Bacolod’s version of an upscale lifestyle district, where residential condominiums, malls and commercial centers, BPO office towers, tourism and leisure facilities, as well as recreational parks and open spaces, are integrated.
The second township of Megaworld in the province, meanwhile, will be in the northern part of Bacolod, where the famous Sugar Road was built. It will be called Northhill and will rise on a 50-hectare property along the new Circumferential Road on the boundary of Talisay City and Bacolod City that has direct access to the new Bacolod-Silay Airport.
The development will be jointly developed with its unit Suntrust Properties Inc., and in partnership with the Lacson family.
Megaworld said the two developments will be connected via the Circumferential Road.
“It is envisioned to be a refreshing lifestyle district that will house upscale residential villages, mixed-use office and retail developments, leisure and recreational amenities, as well as institutional facilities,” Megaworld said.
“Just as what we have done with our other developments, we will transform the sugarcane fields into a bustling new district. Within five to 10 years, we envision this area to be the most sought-after business and lifestyle address for Negrenses,” Jericho Go, Megaworld senior vice president, said.
Once completed, the two townships will generate around 250,000 direct and indirect jobs in BPO, construction, transportation, commercial and retail businesses.
“We are still finalizing the master plans of the two townships. But one thing for sure, we will be able to provide thousands of jobs to the people of Negros once these two developments are completed,” Go said.
The two townships are part of the five big developments that Megaworld will launch this year, as it plans to increase its mixed-use development portfolio from 15 to 20, with a total township land area of 3,100 hectares by the end of the year.