Property developer Megaworld Corp. said Tuesday it is building a P500-million luxury boutique hotel within the 34-hectare The Upper East township in Bacolod City.
Megaworld said in a disclosure to the stock exchange the planned hotel was expected to be completed in 2022 and become another landmark in The Upper East.
The hotel will offer 48 spacious suites, an all-day dining restaurant, café, courtyard, swimming pool and pool deck, fitness center, lanai and a hotel ballroom that can fit around 1,000 guests in a banquet setting.
“This luxury boutique hotel will be another landmark in The Upper East. The hotel will be a perfect venue for conventions, weddings and memorable celebrations as it integrates an outdoor garden setting into its ballroom facility. Megaworld is keen on helping boost the MICE tourism industry of Bacolod,” said Rachelle Peñaflorida, vice president for sales and marketing of Megaworld Bacolod.
The hotel’s main lobby will be a retrofitted heritage house that used to be the old ‘guest house’ inside the Bacolod-Murcia Milling Company compound.
Designed by renowned heritage architect and conservationist Dominic Galicia, the hotel will have the old structures undergo ‘adaptive reuse’ to form part of its complex.
Meanwhile, Megaworld said it would upgrade its first residential condominium development in Bacold, One Regis, by adding more amenities, residential floors and parking facilities.
One Regis will now feature two penthouse floors – the lower and upper penthouses, a bi-level amenity deck with residential units, executive residential floors and additional basement parking facility. From a nine-story residential tower, One Regis will become a 12-story residential condominium.
“As we saw an overwhelming reception to our first condominium development in The Upper East, we believe that this project deserves an upgrade with more amenities, more facilities and more unit options that perfectly fit the Bacolod lifestyle,” Peñaflorida said.
One Regis is scheduled for completion in 2022 with total projected sales of P1.2-billion.
Megaworld earlier said it would spend P28 billion to develop The Upper East in the next 10 years.