Real estate giant Megaworld cements its leadership in Western Visayas as it announces the expansion of its P25-billion township development, the Iloilo Business Park, to an additional 18 hectares. The biggest business park in Western Visayas now has a total land area of 72 hectares.
“We are expanding to cater the increasing demand for residential and commercial properties in Iloilo Business Park. During the past months, we have experienced the overwhelming reception of Ilonggos to our first development in the region,” says Jericho Go, first vice president, Megaworld.
The company has yet to reveal its plans for the additional 18 hectares. It previously announced that the mixed-use township will cover residential condominiums, boutique hotel and commercial lots, office towers, two luxury hotels, the much-awaited Iloilo Convention Center, the Megaworld Central Mall and Annex, and the 1.1-kilometer Festive Walk commercial strip.
The two office towers on Megaworld Boulevard, along with the Iloilo Richmonde Hotel tower, are now under construction. The towers are expected to be completed next year.
“Our state-of-the-art office towers will be home to several business process outsourcing (BPO) companies, some of them will be first-time locators in Iloilo,” reveals Go.
Iloilo Business Park is Megaworld’s biggest township in the Visayas, modelled after the company’s ‘live-work-play’ formula that it pioneered in the Philippines.
Among its successful townships include Eastwood City, known to be the Philippines’ first cyberpark; McKinley Hill in Bonifacio Global City, Taguig; and Newport City in Pasay City, home of the famous Resorts World Manila.
“We introduced the “live-work-play” lifestyle concept to Filipinos way back in the 90s, which paved the way for the development of townships in the Philippines. Since then, other developers have followed our footsteps in this new wave of nation-building,” declares Go.