MANILA, March 19 (PNA) — Listed property developer Megaworld Corp. is investing Php35 billion in the next 10 years to build two townships in Negros Occidental.
In a statement to the Philippine Stock Exchange, Megaworld said the first township, to be called The Upper East, is located on a 34-hectare property on the eastern side of Bacolod City.
The area is now known to be Bacolod’s booming commercial and business process outsourcing (BPO) district.
The township comprises residential condominiums, malls and commercial centers, BPO office towers, tourism and leisure facilities as well as recreational parks and open spaces.
On the northern part of Bacolod, the second township will soon rise and will be called Northhill. It is located on a 50-hectare property along the new Circumferential Road on the boundary of Talisay City and Bacolod City.
“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,” said Jericho P. Go, senior vice president, Megaworld.
Once completed, the two integrated urban 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,” added Go.
The Upper East and Northhill are just two of the five township developments that Megaworld is launching this year.
Just recently, the company announced that it is aggressively expanding its township portfolio across the country from 15 to 20 with a total township land area of 3,100 hectares by the end of the year. (PNA)