Megaworld earmarks P1.2B for office towers development in Bacolod

Property developer Megaworld Corp. is set to spend P1.2 billion to develop its first two office towers inside its 34-hectare The Upper East township in Bacolod City.

These towers, which will be called No. 1 Upper East Avenue and No. 5 Upper East Avenue, will bring to Bacolod’s property market 17,000 square meters of new leasable office space.

These buildings will target the information technology and business process outsourcing (IT-BPO) sector.  They are scheduled for completion by 2022.

The towers will rise on the township’s main avenue, the six-lane Upper East Avenue which connects the city’s main streets of Lopez Jaena and Circumferential Road.

“These two new office towers will be Megaworld’s first office developments in Bacolod, and we look forward to bring in new BPO locators to the city. To be operated under our Megaworld Premier Offices brand, the Upper East Avenue towers will showcase the company’s signature state-of-the-art features in office developments —making them the most modern offices to rise in Bacolod City,” said Kevin Tan, chief strategy officer at Megaworld.—DORIS DUMLAO-ABADILLA