PROPERTY giant Megaworld Corp., through its wholly-owned subsidiary Suntrust Properties Inc., is set to start the P2-billion development of its 24.52-hectare mid-cost residential project in Barangay Matab-ang, Talisay City, following its groundbreaking rites held Saturday, March 12.
The project, called The Fountain Grove, forms 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.
Harrison Paltongan, president of Suntrust Properties Inc., who led the rites, said the project is mostly a residential component that would be home to elegant yet affordable housing units.
Paltongan said this will pave the way for the development of the 15-hectare Forbes Hill, a bigger residential project, and another 7.5-hectare commercial center.
“We envision this project as something that is a game changer in the development landscape of the province, particularly to the cities of Talisay and Bacolod,” Paltongan said. “This is something for the future of Negros.”
The Fountain Grove has four phases -- Bellagio, Trevi, Tivoli and Montjuic -- and will feature first-class amenities, including a multi-purpose hall, basketball court, park and playground, clubhouse, pools and wedding pavilion with cabanas.
Paltongan said the initial investment of P2 billion covers the land development and construction of other amenities.
The land development works was awarded to Bacolod-based Wilkinson Construction Company and its completion is targeted within this year, Paltongan said.
“As soon as the local government of Talisay approves the development permits, then the firm can already start putting the houses of individual buyers,” he added.
“We are eyeing two to three years to complete the whole Fountain Grove,” Paltongan said, adding that the project would bring into the province the company’s live-work-play-learn concept where traffic in the main streets is minimized and township residents can save time, money, and effort.
He also said the project may create employment opportunities to about 45, 000 for the construction of almost 1,500 houses only, on top of the thousands of jobs for the land development phase.
“This is our contribution to the nation building, we will help improve Talisay and Bacolod,” Paltongan added.
For his part, Talisay City Mayor Eric Saratan, who was also present during the groundbreaking rites, said the project is a “big break” for the city.
“Megaworld’s presence would surely make a difference, particularly in terms of additional local income and employment generation,” Saratan said, adding it will help the city in achieving its goal to be one of the retirement destinations of the country by 2020.
“We are very thankful to be part of the very big project, which will help us make our own identity for Talisay, not of Cebu or other provinces in the country, but of Negros Occidental,” he said.