AMID the increasing number of real estate projects in Bacolod City, it still has potential areas for property development expansion.
Mayor Evelio Leonardia stressed this at the sidelines of the groundbreaking of the three-tower residential project of Cebu Landmasters Inc. (CLI) in Barangay Bata on April 30.
Leonardia cited that neighboring Iloilo City, which also hosts a lot of developments, is only half the size of Bacolod.
If Iloilo can cater to such property developments then there is still room for expansion in Negros Occidental capital city, he added.
CLI's three-tower condominium project forms part of the company's P5-billion investment for Bacolod City.
The other two projects include the development of the first international brand hotel on Lacson Street and mid-market subdivision in Barangay Granada.
These projects targeted to be completed in the next five years are seen to bring in at least 2,000 jobs to the city residents and those from neighboring localities.
Leonardia said these additional developments spur inclusive growth as the employment opportunities it created are benefiting thousands of people.
Assuring a business-friendly and conducive climate for business, Leonardia said: "We will give investors no reason to transfer."
Currently, Bacolod City hosts various real estate developments seen to change its landscape.
Property giant Megaworld Corp. has started the development of its two township projects in cities of Bacolod and Talisay worth about P35 billion.
Projected to be completed this year is Ayala Land Inc.'s P6-billion development of a mix-use project beside the Provincial Capitol Building.
Other major retail players with ongoing new and expansion projects in Negros Occidental, especially Bacolod City, are SM Prime Holdings Inc., Double Dragon Properties, and Robinsons Land Corp., among others.
The mayor pointed out that once completed, the Bacolod Economic Highway will further stimulate economic activities.
"This will awaken the sleeping areas in the city," he said, adding that "as early as now, Bacolod will never be the same again."