Real Estate News Roundup (October 25 to November 11, 2018)

A P500-million luxury boutique hotel developed by Megaworld is set to rise in Bacolod City. The property involves a former sugar mill compound and heritage houses. Since heritage houses in the area are considered as cultural properties in the city, Megaworld will utilize the three heritage homes. They will be incorporated in the hotel complex instead of demolishing them. The heritage homes will definitely undergo “adaptive reuse”, a process of reusing an old structure for a new purpose, to become part of the entire structure. The said hotel is expected to be completed in 2022 [1].

Megaworld is set to finish the Bacolod Welcome Park this October. The construction of the first Las Vegas-style welcome signage in the Philippines is still ongoing, and is set to function during the highlights of Masskara Festival to welcome tourists. The design of the marker features colorful masks illuminated at night symbolizing the world-renowned Masskara Festival of Bacolod City. This marker will greet both incoming and outgoing visitors as well as locals of the city. Once it’s already completed, the visitors can just drop by and take pictures in the welcome marker [2].

The city government of Bacolod is eyeing to build a coliseum and a museum for the culture and the arts both in one location. To be named as the Bacolod Masskara Coliseum, this proposed infrastructure is one of the four big projects that will be funded by the PhP1.7 billion loan of the city government from the Department of Finance. Based on the initial proposal, the first two floors of the building will house the Masskara museum, while the top floor will house an amphitheater [3]. This can be a great avenue for tourists who will be visiting Bacolod to experience Masskara even if it’s not October.

A four story building has been inaugurated as the new office building of Marina-Western Visayas at the Panaad Park in Barangay Mansilingan, Bacolod City. The inauguration was led by Negros Occidental Governor Alfredo Marañon Jr. and Angkla party-list Representative Jesulito Manalo. The activity started with a ribbon-cutting ceremony, unveiling of the marker, blessing and a short program. The new office means there will be more active in integrating the development, promotion and regulation of the maritime industry in the Philippines; especially that the new port has increased in passenger volume this year [4].

Check out the Housing & Condo Trends in Bacolod, or browse the Houses & Condos category in the Yoorekka Directory.