Property giant Megaworld is building a 12-storey “smart” condo tower inside its 34-hectare The Upper East township in Bacolod City.
The Herald Parksuites will be the 4th residential tower in The Upper East offering 246 “smart home” units, Jennifer Palmares-Fong, Megaworld Bacolod vice president for sales and marketing, announced Friday, April 22.
Megaworld is expected to generate P1.9 billion in sales from this new residential project, which will be completed by 2028, Harold Brian Geronimo, the firm’s senior assistant vice president, said.
It is part of Megaworld’s P28 billion investment in The Upper East that has created 4,000 jobs, he added.
Megaworld has also set P7 billion for its North Hill project in Bacolod City.
“We believe in Bacolod City, the response is very overwhelming,” Palmares-Fong said.
Even during the COVID-19 pandemic they were able to sell their condominium units, which means there is a big market for residential property in a township setting in Bacolod, Geronimo said.
“We’re very, very confident that the condo market in a township setting in Bacolod is really very, very positive,” Geronimo said.
He said they look forward to having more investments in Bacolod City, and they will be announcing more exciting things in the coming months.
The road through the Upper East will be opening very soon, he also said.
The 12-storey Herald Parksuites will offer 246 units with sizes ranging from studio up to 24 square meters, studio with balcony up to 31.5 square meters, one-bedroom with balcony up to 41 square meters, executive one-bedroom with balcony up to 54 square meters, one-bedroom loft with lanai up to 78 square meters, two-bedroom with balcony up to 79 square meters, and two-bedroom loft with lanai (up to 109 square meters, Palmares-Fong said.
Their cost range from P4.8 million to P21.5 million, she added.
Each unit will be equipped with a wireless smart home system and devices with WiFi router, video intercoms, as well as a standby power generator for a lighting fixture in the living area, Palmares-Fong said.
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, she added.
“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,” Palmares-Fong said.
Herald Parksuites will 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 pathwalks, and Wi-Fi internet access, Palmares-Fong said.
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, she said.
“This new tower is jampacked with first-of-its-kind features and we are excited to offer all of these to our future residents,” Palmares-Fong said.
With the launch of Herald Parksuites, Megaworld now has an inventory of almost 1,000 residential condominium units in Bacolod City, she said.
In 2018, Megaworld 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 its third residential tower, the 14-storey One Manhattan.*