Business and Economy
Property developer confident of investment growth in NegOcc
The firm had earlier said that its initial investment of PHP2 billion covers the land development and construction of other amenities. (Photo: Suntrust Properties Incorporated (Official FB Page)/Facebook)
BACOLOD CITY — Property developer Suntrust Properties Inc. (SPI), a wholly-owned subsidiary of Megaworld Corp., has expressed confidence that its investments will grow amid the bullish economy of Negros Occidental, particularly Metro Bacolod.
SPI president Harrison Paltongan, who led the blessing of model houses in their 24.52-hectare mid-cost residential project called The Fountain Grove at Barangay Matab-ang in Talisay City Saturday, said they have seen the potential of the province before they started the development.
Paltongan said that 23 percent, or 200 of the 800 house units were already sold since the project construction was launched in October last year.
“We are optimistic to sell more than double in 2018 especially with almost full land development works now,” he said.
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.
The firm had earlier said that its initial investment of PHP2 billion covers the land development and construction of other amenities.
With the recognition given to Bacolod as one of the most business-friendly cities in the country and with Negros Occidental as the third richest province this year, the firm’s top official said their confidence to invest here is boosted.
Paltongan said they are happy to see that even the local government is doing its task especially in terms of infrastructure works, including airport road expansion and construction of economic highways, among others.
“We are happy to bring our private development here, in fact we are looking at more expansion in the island,” Paltongan said, adding that “people in Metro Bacolod, including cities of Talisay and Silay, should instead of buying houses in Metro Manila reinvest their resources in the province.”
