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Megaworld breaks ground for Iloilo Business Park

Megaworld Corporation, the country’s #1 residential condominium and business process outsourcing (BPO) office developer, is set to break ground today, May 6, on its Iloilo Business Park project.
The company is setting aside P2.5 billion initially over the next two years to develop the road network within the 54.5-hectare IT park and for the construction of Richmonde Hotel Iloilo and Richmonde Tower plus two more BPO office towers within this time frame. The first retail component of the project, Festive Walk, will be completed in the latter part of 2012, after which Megaworld is set to invest more to bankroll the development until 2020.

The site of the project is the former Iloilo Airport, which Megaworld acquired from the National Government in 2007 for P1.2 billion in cash.


“With our groundbreaking rites today, we affirm the strong business prospects of Iloilo City and the Western Visayas region in particular. The Iloilo Business Park is an important component of the BPO triangle I am envisioning that will make the Philippines an exciting and thriving BPO destination worldwide,” noted Megaworld Chairman and CEO Andrew Tan.

BPO building render
“The Iloilo Business Park marks the second leg of our BPO triangle after our two cyberparks in Metro Manila, with the final leg to be launched in the next few years. Together, these will give BPO investors strong prospects not just based on location but the human resource component as well. Early on, we decided to launch our BPO presence here considering that Ilonggos naturally have a pleasant vocal tone, are highly educated and are very hardworking,” the business tycoon continued.
Jericho Go (1st VP), Rommel Orbigo (PR officer) and Kevin Tan (VP) of Megaworld Corporation.

The groundbreaking ceremonies for R ichmonde Hotel Iloilo and Richmonde Tower mark the first projects to be started within the Iloilo Business Park. The 12-story hotel will host 90 guest rooms, ranging from superior rooms to junior suites. Its seventh-level amenities deck features play amenities such as a lap pool, children’s pool and fitness center, while the business center on the same level will include meeting rooms and a conference room. Richmonde Hotel Iloilo is the third project of Megaworld under this hotel brand. The hotel is projected to serve businessmen and tourists who flock annually to witness Iloilo City’s historic and colorful festivals.
Richmonde Tower and Hotel

The Richmonde Tower will occupy the second to sixth floors of the hotel, offering more than 9,000 square meters of prime office space for BPO locators. Both projects are slated for completion within the next two years.

Since the Iloilo Business Park was granted a certification by the Philippine Economic Zone Authority as an information technology (IT) park in January 2010, BPO locators at Richmonde

Tower will be entitled to exclusive perks such as income tax holidays, duty-free importation of office equipment and repatriation of earnings, among others.



At 54.5 hectares, Iloilo Business Park is the largest IT park yet of publicly-listed Megaworld Corporation, the country’s #1 business process outsourcing (BPO) office landlord. The master plan for the entire community includes hotels, BPO office towers, a convention center, a skills training center and retail components. With its premium brands, affordable boutiques and al fresco dining areas for restaurants, the two-kilometer retail and dining strip of Festive Walk is expected to become the next hip hangout for Iloilo’s youth and a vital tourist spot.
With its strong Work-Play-Learn components, Megaworld is projecting that Iloilo Business Park will fill more than 24,000 seats for the BPO sector, whereas its retail component will infuse more than 200,000 square meters of space for the commercial sector. All in all, Megaworld expects to help create about 40,000 new jobs within Iloilo City, thus helping spur up the local economy.

More Groundbreaking Ceremonies Photos here. | See whole project plan here

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