Megaworld Corp., the biggest lessor of office spaces, is expected to raise P1.5 billion in revenues from the newly-launched residential tower inside Upper East township in Bacolod City.
Megaworld said in a disclosure to the stock exchange Two Regis is a 14-story residential tower that will be built at the corner of Regis and Madison Streets within the 34-hectare township in the eastern part of Bacolod City.
The residential tower will offer units ranging from studio (up to 31.5 square meters); executive studio, up to 37.5 sqm; one-bedroom, up to 43.5 sqm; and two-bedroom, up to 87 sqm.
“The overwhelming success of our first residential tower is a clear indication that Bacolod has embraced the convenience of both condo living and township living. The master-planned township concept that we are bringing to Bacolod makes Megaworld different as a condominium developer, and we are happy to pioneer this concept in Negros,” said Megaworld Bacolod vice president for sales and marketing Rachelle Peñaflorida.
Two Regis is scheduled for completion in 2023.
Megaworld said a key feature of the residential tower would be the three Skygardens, with two located on the 12th level, known as the Lower Sky Suites Floor, and one at the center of the 8th level, known as the Garden Suites Floor.
The penthouse floor, also known as the Upper Sky Suites Floor, will offer units in varying size options, with unparalleled views of the sunrise from the Negros Mountain Ranges and the sunset along Guimaras Strait.
“We are fast-tracking the developments inside The Upper East to ensure that our future residents will be able to enjoy the mall, the parks, the hotel and the other components of the 34-hectare township once they start living in the condo. We’ve promised Bacolod with a first-class township, and we expect things to rise in the next three to five years,” Peñaflorida said.
Land development of the township started late last year with the pipe-laying of underground utility lines, as well as the construction of sewerage and drainage facilities.