BACOLOD City – The Bacolod Real Estate Development Corporation’s (Bredco) proposal for reclamation area expansion gained support from the Metro Bacolod Chamber of Commerce and Industry (MBCCI).
MBCCI chief executive officer Frank Carbon said the billion-peso development would create thousands of jobs and make Bacolod more attractive to investors.
“The area is large enough for more investments like hotels, malls and other recreational establishments,” said Carbon on Tuesday.
He said the new reclamation project would also slowly decongest the city’s “central business district” such as the downtown area.
The business leader added that he hopes the reclamation development will also result to lesser value of land.
“With more available land, there will be excess in real estate which will make spaces for rental, commercial and residential cheaper,” Carbon added.
Bredco president John Alonte earlier announced the company’s P24-billion investment for the Phase 2 of the reclamation project and will have an additional 300 hectares of foreshore land.
Alonte said they will bring in business tycoon Lucio Co as strategic partner and investor for the reclamation development.
Bredco, which also owns and operates the port area here, has an existing 250-hectare reclaimed area. The planned reclamation project will become the site of an entertainment destination. (With a report from PNA/PN)