MANILA - Megaworld Corporation will start the development of The Upper East in Bacolod City next year, Harold Geronimo, Megaworld assistant vice president for public relations and external affairs, said.
Geronimo said they will also start the construction of the Northill Town Center by next year, their first lifestyle mall in Negros, and will be turning over lots to the owners of Forbes Hill, so the owners can get their lots already and can start constructing their houses, he said.
The Northill Town Center is part of Megaworld’s P35 billion-investment in two townships – the Northill Gateway and The Upper East - in Bacolod City.
Geronimo said they have been very much upbeat about Bacolod ever since. That is why they have two townships because they are very much confident about Negros’ economy and they know it has purchasing power and real estate is one of the industries they see will be growing in the next five to 10 years.
“So we are very much bullish, we’re very positive about our developments in Negros, so we will be starting The Upper East next year,” he said.
Geronimo said their project will provide about 250,000 direct and indirect employment. He believes the bulk of the employment will be in The Upper East because of the Business Process Outsourcing industry, he said.
He said they will construct state-of-the-art BPOs office towers in The Upper East and they will also have residences there because they are selling condominiums.
The Upper East is about 34 hectares and the Northill Gateway is about 53 hectares or a total of 87 hectares, he added.
Meanwhile, Geronimo said they are already nearingthe finishing stage of the land development of their 53-hectare Northill Gateway township.
They have finished constructing the roads, drainage and sewage systems, and the electrical posts. When they turn them next year, everything will already be completed as far as land development, he said.
Geronimo said a township usually has a life of about 10 to 15 years, depending on the components. He said East Wood City, for example, was fully developed in 10 to 15 years.
“However, for Northill Gateway, since majority of the township is residential village, it will be easier for us. In five years we will be able to see Northill Gateway rising already,” Geronimo added.*CGS
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