Megaworld Corp., the country’s largest office developer, and lessor said it will spend P1.2 billion to build office towers on its 34-hectare The Upper East township in Bacolod City.
Megaworld said in a disclosure to the stock exchange two office towers, called No. 1 Upper East Avenue and No. 5 Upper East Avenue, would offer around 17,000 square meters of office spaces catering mainly to the information technology and business process outsourcing sector.
The towers will be strategically located along the township’s main avenue, the six-lane Upper East Avenue that connects the city’s main streets of Lopez Jaena and Circumferential Road.
Both towers are scheduled for completion by 2022.
“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, 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,” said Kevin Tan, chief strategy officer of Megaworld.
Featuring Spanish and European architectural design, the No. 1 Upper East Avenue and No. 5 Upper East Avenue towers will be registered under the Leadership in Energy and Environmental Design program.
Both towers will have roof gardens and utilize LED lightings in common areas, dual-flush technology for toilets, and double-glazed windows for heat insulation and energy-efficiency.
The office towers will offer basement and ground level parking, for the convenience of its tenant partners and workers. Jenniffer B. Austria
“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,” Tan said.
Megaworld is the country’s biggest developer and lessor of offices today with over 1.3 million square meters in office rental inventory.
Almost 20 percent of the country’s BPO workers are employed in Megaworld office buildings. The numbers are expected to grow in the next five years as more office developments are being built in the company’s townships such as Eastwood City, McKinley Hill, McKinley West, Uptown Bonifacio, The Mactan Newtown, Davao Park District, and Iloilo Business Park.