AS IT expressed confidence on the business climate of Bacolod City amid the prevailing coronavirus disease (Covid-19) pandemic, property giant Megaworld Corp. has announced the start of the development of another residential tower within its 34-hectare The Upper East township in the eastern part of Bacolod City that used to be the Bacolod-Murcia Milling Company compound.

Megaworld senior assistant vice president and head of public relations and media affairs Harold Brian Geronimo, who spoke in a media briefing at the Sky Deck of Stonehill Suites in Bacolod City yesterday, April 22, said the fourth condominium project called Herald Parksuites forms part of the P28-billion investment poured in by the firm for the development of the entire township.

Geronimo said that even during the pandemic when they launched the One Manhattan as Megaworld’s third residential tower inside The Upper East, there has been an overwhelming sales in their units which means that there’s really a big market for residential properties in a township setting in Bacolod City.

The official said that most of the customers of Megaworld here are attracted to a township concept, the live-work-play concept, that is why they opt to buy units from a township setting.

“So, we are very confident that the condominium market in a township setting in Bacolod City is really very positive,” he said, adding that “we look forward to have more investments in the city and we will be building more in the coming months, more exciting well be put out in The Upper East.”

The firm targets to complete the construction of the 12-storey tower in 2028.

Megaworld Bacolod Vice President for Sales and Marketing Jennifer Palmares-Fong, who also spoke at the media briefing, said taking inspiration from the posh apartments in New York City’s Upper East Side, this new residential tower will highlight Bacolod’s first “smart home” amenities in a condominium with select loft units in generous layouts.

Herald Parksuites will offer 246 units with sizes ranging from that of a studio up to 24 square meters, studio with balcony of up to 31.5 square meters, one-bedroom with balcony of up to 41 square meters, executive one-bedroom with balcony of up to 54 square meters, one-bedroom loft with lanai of up to 78 square meters; two-bedroom with balcony of up to 79 square meters, and two-bedroom loft with lanai of up to 109 square meters.

Palmares-Fong said what is very exciting about the new condominium development is that, for the first time in the Negros Occidental capital city, each unit is equipped with wireless smart home system and devices with Wi-Fi router, video intercoms, as well as a standby power generator for a lighting fixture in the living area.

“This smart home technology will allow owners and future residents to control the lights and appliances inside their units via a mobile app. The hallways and common bathrooms and toilets within the building will have motion sensors so that they will only be put on when there are people,” she said, adding that each unit will also have standby power generators particularly in the living area.

All kitchens will have their own cooktop burners with two-bedroom units having their own built-in ovens, while loft-type units’ bedrooms and living rooms will come with inverter split-type air conditioning units.

Palmares-Fong said Herald Parksuites will also feature a central amenity floor that connects to the amenity floor of Two Regis, the adjacent tower where it will be built.

The amenities include an adult pool and a children’s pool with bubblers; a pool lounge and a pool bar; lounge areas with sunbuns; shower rooms; reading nooks; children’s playground and daycare center; fitness center; function room with pantry and extended outdoor area; private dining room; game room; covered path walks; and Wi-Fi internet access.

The residential tower will also have its own basement parking facility and the ground floor will have access to a retail arcade.

It will also be highlighted by numerous green and sustainability features such as low flow fixtures for water conservation, light sensors at hallways for energy conservation, use of building equipment with high energy efficiency ratings, and facilities like rainwater harvesting and re-use, as well as its own material recovery facility.

“This new tower is jam packed with first-of-its-kind features and we are excited to offer all of these to our future residents,” she added.

The company is expected to generate P1.9-billion in sales from the new residential project.

With the launch of Herald Parksuites, Megaworld reported that it now has an inventory of almost 1,000 residential condominium units in Bacolod City.

In 2018, the firm launched its first residential tower, the 12-storey One Regis, and the following year, it launched its second tower, the 14-storey Two Regis.

In 2020, the company also launched the 14-storey One Manhattan.

Geronimo said these are all part of the 10-year capital expenditures for The Upper East which started in 2018.

In terms of employment, the development has already generated at least 4,000 jobs.

“This is going to be a destination township,” he said.