MEGAWORLD CORP. is spending P1.2 billion to develop two office towers in its Bacolod township as it continues to expand its leasable portfolio.
In a statement issued Monday, the property firm of tycoon Andrew L. Tan said it will build No. 1 Upper East Avenue and No. 5 Upper East Avenue inside the 34-hectare Upper East estate. The two towers will offer about 17,000 square meters (sq.m.) of office space catered toward the information technology and business process outsourcing (BPO) sector.
“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,” Megaworld Chief Strategy Officer Kevin Andrew L. Tan said in a statement.
“To be operated under our Megaworld Premier Offices brand, these 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.”
Megaworld plans to register the buildings under the Leadership in Energy and Environmental Design program, which will prove that the project adheres to the United States Green Building Council’s environmental standards.
The towers will make use of LED lighting in common areas, dual-flush technology for toilets, and double-glazed windows for heat insulation and energy efficiency. Both will also have roof gardens.
Tenants and employees in the building will also have access to basement and ground level parking.
The project will stand across the soon-to-rise Upper East Mall, with the township’s central park placed between the two developments.
“These will be the only office buildings in the entire Bacolod City that are located within a fully masterplanned township development, where everything is just within easy reach,” Mr. Tan said.
The towers will be added to Megaworld’s leasable space of more than 1.3 million sq.m.
Shares in Megaworld fell 2.24% or 11 centavos to close at P4.81 each at the stock exchange on Monday. — Arra B. Francia