Megaworld hikes investment for Bacolod townships to P45-B; opens 8-lane Upper East Avenue

Township developer Megaworld announced today that it is increasing its capital spending for its Bacolod townships to P45-billion, particularly in The Upper East, as it ramps up construction activities inside the 34-hectare township near the Bacolod Government Center. 

In 2015, Megaworld announced that it is pouring in P35-billion to develop two townships in Negros Occidental – the 50-hectare Northill Gateway in the boundary of Talisay City and Bacolod City, and The Upper East – for the period of 10 years.

“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,” says Jennifer Palmares-Fong, vice president for sales and marketing, Megaworld Visayas. 

In The Upper East, the company has already completed the construction of the 12-storey One Regis, its first residential condominium project, which is due for turnover within the year. 

Just recently, the company topped off the second tower, the 14-storey Two Regis, and is set 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. So far, the company also has around 1,000 units inventory in The Upper East.

Megaworld also formally opened the Upper East Avenue, its eight-lane main avenue inside The Upper East. 

The Upper East Avenue is composed of six road lanes and two ‘on-street’ parking lanes. It is open for both private and public vehicles, subject to the traffic rules and regulations of its own estate management group, which will deploy traffic marshals around the area.

The opening marks an important milestone for The Upper East as it showcases the kilometer-long stretch of the township with several areas having simultaneous construction activities. 

“Our first BPO office tower development, No. 1 Upper East Avenue, has also started its construction. Soon, we will also begin the construction of our commercial developments in this township. Indeed, exciting times are up ahead in The Upper East,” adds Palmares-Fong.

Secondary roads within The Upper East, which will be at least 20-meters wide, are also now being completed. There will also be an extensive network of bike lanes inside the township to help promote efficient and convenient mobility.

Continuing its rise as the city’s first master-planned mixed-use community, The Upper East will soon have its own Megaworld Lifestyle Mall, commercial parks, hotel, church, and other institutional and recreational facilities.