A LOCAL business group is upbeat that the additional development at the reclamation area of Bacolod City will further boost the economy of Negros Occidental.
Frank Carbon, chief executive officer of Metro Bacolod Chamber of Commerce and Industry (MBCCI), said the plan to reclaim an additional of 300-hectare foreshore land would mean a lot of employment for Negrenses.
Carbon said the construction stage alone would already create thousands of direct and indirect jobs.
“This billion-peso development would also make the city more attractive to investors,” he said, adding that the area is large enough for more investments like hotels, malls and other recreational establishments.
The Bacolod Real Estate Development Corp. (Bredco) earlier announced that it is investing about P24 billion for the Phase 2 of the reclamation project in the city.
This will be an added development to the existing 250-hectare reclaimed area.
The company plans to develop the reclamation as an entertainment destination.
On March 21, Bredco opened the Acacia Bacolod Hotel positioned as the new destination for Meetings, Incentives, Conventions and Exhibitions.
It spent P250 million for the renovation and refurbishment of the hotel, formerly the Bacolod Pavillon Hotel that was closed down in October last year.
As they welcome the development, Carbon said it is also seen to help slowly decongest the city's “central business district” like the downtown area.
Carbon said they hope that the reclamation development will also result to lesser value of land.
“With more available land, there will be excess in real estate which will make spaces for rental, commercial and residential cheaper,” he added.
Bredco officials also announced that they are bringing in business tycoon Lucio Co as strategic partner and investor for the reclamation development.
For MBCCI, the presence of Co is a “good thing” and will benefit the city.
Co has saw the Southeast Asia and even the global niche thus, his metropolis thinking of development will boost the city and province's investment landscape, it added. (EPN)