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Philippine developer Megaworld to build 28B-peso central business district

Property developer Megaworld Corp. will start construction on its planned 28 billion-Philippine-peso The Upper East central business district project in Bacolod City, Philippines, in 2018.

Among the first structures to be built within the 34-hectare project is the nine-story, 212-unit One Regis midrise residential condominium, which will also feature a commercial space at the ground floor.

The Upper East will be built in a span of 10 years and will include residential condominiums, malls and commercial centers, mixed-use buildings, office towers and hotels, among other features, with around 35% of the township reserved for parks and open spaces.

As of July 27, US$1 was equivalent to 53.23 pesos.