PROPERTY giant Megaworld Corp. will be developing a 97–hectare mixed–use township along the Bacolod–Silay Airport Road in Talisay City, its third estate on the island and 37th township nationwide once completed.
The developer told the stock exchange on Monday that it was allocating P8 billion to develop the township over the next seven to 10 years.
“The Sugartown” project will be the first of its kind in Talisay City and will join Megaworld’s two other existing townships in the province, Northill Gateway and The Upper East in Bacolod City.
Designed as a comprehensive mixed–use estate, The Sugartown will feature premium residential developments, commercial and retail spaces, a town center and tourism–oriented facilities.
Residential projects will be developed by Megaworld and its wholly owned subsidiary, Suntrust Properties, Inc.
“Our vision for this new township in Negros Occidental is to provide new opportunities to help boost tourism in the province,” said Lourdes Gutierrez-Alfonso, president and CEO of Megaworld.
“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.”
Kevin Tan, president and CEO of Megaworld parent firm Alliance Global Group, Inc., expressed optimism about the project’s role in regional growth, particularly with the establishment of the Negros Island Region.
“With the rise of mixed–use developments beyond major cities, we are excited to further contribute to regional progress, especially in tourism, through our seventh township in the Visayas,” Tan said.
Megaworld said The Sugartown would be less than five minutes from the Bacolod–Silay Airport and Talisay City Hall and approximately 15 minutes from the Bacolod City Government Center.
Megaworld shares climbed P0.04, or 1.85 percent, to close at P2.20 each on Monday.