By Nanette L. Guadalquiver
BACOLOD CITY, Oct 18 (PNA) — Suntrust Properties Inc. entered into a P1-billion joint venture agreement with the Lacson family for the development of an integrated residential project at the boundary of the cities of Bacolod and Talisay in Negros Occidental.
Suntrust Properties is a wholly-owned subsidiary of Megaworld Corp. catering to the affordable market.
The signing of the agreement, led by Suntrust Properties president Harrison Paltongan and chief operating officer Deanna Jean Claveria, and the Lacson family represented by Ma. Jesusa Lacson and Felipe Lacson, was held at the Sugarland Hotel here Friday.
Bacolod City Mayor Monico Puentevella and Talisay City Mayor Eric Saratan witnessed the event.
Dubbed “city of the future,” the integrated residential project spans 50 hectares and will be developed in the next five years.
In Iloilo City, Megaworld is also investing P5 billion to build 10 office towers in the 72-hectare Iloilo Business Park up to year 2021.
The office towers will provide a total of about 100,000 square meters of office space inventory, making it the biggest cyberpark in Western Visayas.
The project is expected to generate approximately 30,000 jobs in the Information Technology-Business Process Outsourcing (IT-BPO) sector.
“Iloilo Business Park is positioned to be Western Visayas’ biggest cyberpark and a major hub for IT-BPO outside of Metro Manila,” said Jericho Go, first vice president of Megaworld.(PNA)