I think by now you’ve already heard or read the exciting news that SM Prime Holdings Inc. is offering to buy or lease the 6.5 hectares of the Capitol’s property along Gatuslao Street.
No less than Hans Sy himself met with Governor Alfredo Marañon last May 10. Sy said SM plans to spend P2.5 billion for the construction of a convention center which can accommodate 3,500 and two 200-room hotels. This is probably why the supposed SM Casa hotel in Bacolod rumored to be constructed at the back of SM City Bacolod has not yet materialized.
The area is a prime Bacolod property thus with the news of SM being interested in it, other investors also signified their interests. Ayala Land has signified their interest in the property. Ayala is the developer of Ayala North Point and the Ayala Technohub also located at Ayala North Point.
The owner of 888 Chinatown Square is also interested in acquiring the prime Bacolod property owned by the provincial government which is currently occupied by the Negros Occidental Provincial Jail. The inmates will be transferred to the new Provincial Jail located at Tabunan, Bago City next month.
The project gives us something to look forward to since it means more job for Negrenses. I’m personally thrilled with this development since our office is very near this prime property.
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