Megaworld to spend P45 billion in Bacolod projects 

Megaworld Corp. said Monday it will raise its capital spending for two estate projects in Bacolod City to P45 billion from the initial program of P35 billion, according to a report by Manila Standard.

The company is developing the 50-hectare Northill Gateway on the boundaries of Talisay City and Bacolod City and the 35-hectare The Upper East near the Bacolod Government Center.

Megaworld is adding more investments, especially for The Upper East, as it accelerates construction activities in the area.

“We are adding P10-billion more to our investment for The Upper East as we see great potential and opportunities for this new township, which is now fast rising to be Bacolod’s first modern central business district,” said Megaword Visayas vice president for sales and marketing Jennifer Palmares-Fong.

The company completed the construction of the 12-story One Regis, its first residential condominium project, which is due for turnover this year.

It recently topped off the second tower, the 14-story Two Regis, which is set to be completed next year while two more condominium towers are in the construction pipeline.

The company has 1,000 units in inventory in The Upper East.

Palmares-Fong said the company also began the construction of its first office tower in The Upper East. It will also begin construction of the commercial developments in the township.

Meanwhile, Megaworld formally opened the Upper East Avenue, its eight-lane main avenue inside The Upper East. The secondary roads within the property, which will be at least 20-meters wide, are now being completed.


Noli, known in the real estate industry as "El Subastahero", heads EL SUBASTAHERO AUCTIONS and is the #1 auctioneer in the country today.
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