Megaworld Corporation is going to spend P1.2 billion to build two office towers to be located in its Bacolod township. This is included in its plan to continue expanding its leasable portfolio. Per the disclosure of the firm, the office towers will be No. 1 Upper East Avenue and No. 5 Upper East Avenue. This will be developed inside the firm’s 34-hectare Upper East estate. These two towers will provide about 17,000 square meters of office space for information technology and business process outsourcing (BPO) sector. Let’s take a look at some other information regarding this news.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.
Stock Smarts Manila – September 14, 15, 21, 22,&28, 2019
Stock Smarts Qatar — October 3 – 6, 2019
Stock Smarts Cebu – October 26-27,2019
Stock Smarts Taiwan – November 2, 2019
ICON Davao – November 30, 2019
The firm disclosed that these two office towers will be its first office developments in Bacolod as it looks forward to bringing new BPO locators in the city. The office towers will be operated under the Megaworld Premier Offices brand and these Upper East Avenue towers will exhibit the signature state-of-the-art facilities of Megaworld when it comes to developing offices. These will be the most modern offices to rise in Bacolod City. It seems like our property developers here in our country are starting to build not just residential units but also office units in the province. Soon, Metro Manila will not just be the center of IT and BPO businesses.
Megaworld is also planning to register the towers under the Leadership in Energy and Environmental Design program. This will be evidence that the project complies with the environmental standards of the United States Green Building Council. The towers will utilize LED lighting in common areas, double-glazed windows for heat insulation and energy efficiency, and dual-flush technology for toilets. These two towers will also have their own roof gardens. Employees and tenants of the buildings will have access to ground level parking and basement. The project will be exactly constructed across the Upper East Mall which is soon to rise.
Megaworld’s recent project, The Albany Yorkshire Villa located in McKinley West in Taguig City, is expected to generate billions of sales for the firm, P3 billion to be exact. The company disclosed that the upscale project will comprise of 64 suites which are 121 to 133 SQM in sizes. These will be two-bedroom to three-bedroom units. In addition to this is the four-bedroom penthouses with a total size of 349 SQM, with its own infinity pool. This project will be of help to the company as this will boost its revenue once they start offering the spaces. The company aims to sell the units to affluent residents who can afford to live in an exclusive community.