MANILA, Philippines - Megaworld Corp. said it is investing P35 billion over the next 10 years to build two townships in Negros Occidental.
Megaworld said it is developing two townships, The Upper East and Northhill, in Bacolod.
The Upper East township will rise on a 34-hectare property that used to be the Bacolod-Murcia Milling Company in the eastern side of Bacolod City. The location is said to be a booming commercial and BPO district in Bacolod.
The Upper East, which takes its cues from New York's Upper East Side district, is envisioned as an upscale lifestyle district with residential condominiums, malls and commercial centers, BPO office towers, tourism and leisure facilities.
Jericho P. Go, Megaworld senior vice president, said the company envisions The Upper East as Bacolod’s new central business district.
Northhill, on the other hand, is located on a 50-hectare property
along the new Circumferential Road on the boundary of Talisay City and Bacolod City.
Northhill is a joint development of Megaworld and its wholly owned subsidiary Suntrust Properties, Inc. in partnership with the Lacson family.
Northhill will also have upscale residential villages, mixed-use office and retail developments, leisure and recreational amenities as well as institutional facilities.
"Just as what we have done with our other developments, we will transform the sugarcane fields into a bustling new district. Within five to ten years, we envision this area to be the most sought-after business and lifestyle address for Negrenses," Go said.
Go said the two townships are expected to generate around 250,000 direct and indirect jobs in BPO, construction, transportation, commercial and retail businesses, once it is completed.
Megaworld earlier said it is expanding its township portfolio across the country from 15 to 20 by the end of the year.