Megaworld to invest P8B in Negros township
Property giant Megaworld is set to boost its township portfolio, with P8 billion earmarked to develop a new project in Negros Occidental.
The company on Monday said it would develop the 97-hectare “The Sugartown” along the Bacolod-Silay Airport Road in Talisay City, making it the 37th township project of Megaworld.
This is also its third in the province, following the launch of the 53-hectare Northill Gateway at the boundary of Bacolod City and Talisay City, and the 34-hectare The Upper East in the eastern part of Bacolod City.
The new project—targeted to have a “comprehensive” mixed-use development—will feature premium residential units, commercial and retail spaces, a town center, a commercial district and tourism facilities.
The planned township is just less than five minutes away from the regional air hub by road travel.
Megaworld eyes completion of the township in seven to 10 years.
Kevin Tan, president and CEO of Alliance Global Group Inc., Megaworld’s parent firm, said the Negros Island Region presented growth opportunities amid the rise of mixed-use developments across the province.
7th Visayas township
“Through this new township, our seventh in the Visayas, we are excited on how we can further contribute to regional progress, especially in tourism,” Tan said in a disclosure.
“Our vision for this new township in Negros Occidental is to provide new opportunities to help boost tourism in the province. With its close proximity to the Bacolod-Silay Airport, this will be an exciting destination for visitors and tourists, and a vibrant enclave for residential living,” added Lourdes Gutierrez-Alfonso, president and CEO of Megaworld.
The developer’s earnings in the January to September period last year reached P17.9 billion, 14 percent up from a year ago’s P15.69 billion. Consolidated revenues also improved by 7.75 percent to P64.41 billion from P59.78 billion.
