TALISAY CITY -- Suntrust Properties Inc. (SPI), a wholly-owned subsidiary of Megaworld Corp., remained optimistic on the growth of its investments amid the bullish economy of Negros Occidental, especially Metro Bacolod.
SPI president Harrison Paltongan, who led the blessing of model houses at the 24.52-hectare mid-cost residential project called The Fountain Grove at Matab-ang Village here Saturday, October 21, said they have seen the potential of the province before they started the development.
He said that 23 percent, or 200 of the 800 house units were already sold after the project construction was launched in October last year.
“We are optimistic to sell more than double in 2018 especially with almost full land development works now,” Paltongan said. “We are looking at selling out 100 percent in less than four years since the time it was unveiled.”
The Fountain Grove is part of the 53-hectare Northhill Gateway, a township development that will soon rise along the Bacolod-Silay Airport Access Road, bordering the cities of Talisay and Bacolod.
The firm earlier said that its initial investment of P2 billion covers the land development and construction of other amenities.
With the recognition given to Bacolod as one of the most business-friendly cities in the country and with Negros Occidental as the third richest province this year, Paltongan said their confidence to invest in the province has been boosted.
He added that they are happy to see that even the local government is doing its task especially in terms of infrastructure works, including airport road expansion and construction of economic highways, among others.
“We are happy to bring our private development here. In fact, we are looking at more expansion in the island,” Paltongan said, adding that “people in Metro Bacolod, including cities of Talisay and Silay, should reinvest their resources in the province instead of buying houses in Metro Manila.”
The two house models blessed were Ashlyn and Charlotte. The two other models, Brielle and Dalton, are yet to be finished.
These houses are all single-detached, two-storey homes following a contemporary design suited for the modern lifestyle, with current prices ranging from P4.6 million to P8 million.
The construction of units in already purchased lots is also underway.
Other amenities up for development include multi-purpose hall, basketball court, park and playground, club house, pools, and wedding pavilion with cabanas, among others.
Paltongan said these are on top of the facilities like chapel, fast food chain, supermarket and other retail establishments at the 7.5-hectare Northill Town Center, which will also soon rise in the area.
The other development comprising the Northill Gateway is the Forbes Hill, the 15-hectare first upscale residential development of Megaworld.
“Suntrust is very happy to be part of history, we are the first to start the development in the northern part of Metro Bacolod,” Paltongan said.
SPI first vice president for sales, marketing and business development Jerry Rubis said the company is proud to initiate the move in changing the land value of the former sugarcane fields.
“From the sweet sugarcane, we are transforming the area into sweet homes,” he said, adding that “The Fountain Grove is the gateway to the new development in Metro Bacolod.”
During the blessing, Paltongan and Rubis were joined by other top officials and personnel of SPI, joint-venture partners, including the land owner Lacson family, clients, and officials of the host-village.