Property developer Megaworld Corp. said it expects to raise as much as P1.65 billion from the sale of its first upscale residential project outside Metro Manila called Forbes Hill in Bacolod City.
Megaworld said in a disclosure to the stock exchange Forbes Hill would offer as much as 197 residential lots with sizes ranging from 449 square meters to 861 sq.m. to be sold at P16,000 to P17,000 per square meter.
Forbes Hill is located along the high-end neighborhood in the up and coming lifestyle district along the new Bacolod-Silay Airport Access Road, and forms part of the 15-hectare prime portion within the 53-hectare Northhill Gateway township.
“Finally, Megaworld is rolling out a premiere residential offering for Bacolod. This is the company’s first venture for a luxury village outside of Metro Manila because we recognize the sophisticated market in this wonderful province,” Megaworld Premier vice president for sales and market Rachelle Penaflorida.
“This means there will only be 197 homeowners or even less in Forbes Hill. This is why exclusivity and privacy are guaranteed. And this is the true promise of luxury,” Penaflorida said.
Forbes Hill has a low density of only 13 residential lots per hectare. Around one-third of the entire village will be allocated for open and green spaces, and roads that are 12 to 20 meters wide.
The upscale neighborhood will feature first-class amenities exclusively for residents which include an events hall, fitness center, game room, entertainment room, lap pool, children’s pool, a gazebo park and a basketball court.
“More importantly, we are giving our residents with a wider breadth of lifestyle amenities that the entire Northill Gateway township brings – from malls and commercial centers to office spaces and educational institutions – everything will just be within reach. Megaworld is bringing its pioneering live-work-play-learn concept to the future residents of Forbes Hill which will be the first in Negros Occidental and Bacolod City,” said Penaflorida.
Megaworld, along with its wholly-owned subsidiary Suntrust Properties, Inc. and in partnership with the Lacson Family, is developing the 53-hectare Northill Gateway which is envisioned to be a refreshing lifestyle district.
Forbes Hill is 20 minutes away from the downtown area of Bacolod City and only around 10 minutes away from the new Bacolod People’s House through the new Circumferential Road.
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