Megaworld, the property arm of ultra bilyonaryo Andrew Tan, is jacking up its budget for its two townships in Negros Occidental to P45 billion as it positions The Upper East as Bacolod City’s first masterplanned mixed-use community.
The additional investment of P10 billion will be used to ramp up construction activities at The Upper East, a 34-hectare township near the Bacolod Government Center.
“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 Jennifer Palmares-Fong, VP for sales and marketing, Megaworld Visayas.
So far, Megaworld has already completed the construction of the 12-storey One Regis, its first residential condominium project in The Uppear East, slated for turnover within the year.
The company recently topped off the second tower, the 14-storey Two Regis, which is targeted to be completed next year.
Two more condominium towers are in the construction pipeline, the 14-storey One Manhattan and the recently-launched 12-storey Herald Parksuites. Megaworld has an inventory around 1,000 units in The Upper East.
Palmares-Fong said construction of The Upper East’s first BPO office tower has also kicked off. The company will soon begin the construction of commercial developments which include a Megaworld Lifestyle Mall, commercial parks, hotel.