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Megaworld invests PhP10 billion more for the Iloilo Business Park

Three weeks ago, Megaworld Inc. delivered one big news for its Iloilo Business Park - the PhP1.5B Courtyard by Marriott Hotel (which already broke ground prior the actual presscon). It was the first kind of the Marriott brand in the Philippines and Megaworld showed how much they love the Ilonggos by bringing it to Iloilo City. So when Mr. Harold Geronimo, Megaworld's Director - Strategic Mktg & Communications, yesterday tweeted "Going back to Iloilo again to bring the "bigger" news about Iloilo Business Park.  ✈" I asked my self what could be bigger than PhP1.5Billion?
A presscon "worth PhP10 BILLION" at Days Hotel Iloilo
PhP10BILLION! 

Obviously, it's indeed bigger and that's the additional amount Megaworld is pumping for its 72-hectare Iloilo Business Park. It now brings Megaworld's 10 year investment in Iloilo to PhP35Billion from the initial PhP25B it set a few years back “We are committed to make Iloilo Business Park the largest, most exciting business and tourism district in Western Visayas,” opens up Jericho P. Go, Megaworld’s first vice-president, during the presscon at Days Hotel Iloilo.
It was only last May when Megaworld announced the expansion of the project at the site of the old Iloilo airport in Mandurriao district to 72 hectares (ha.) from 54 ha. “We have exciting plans for the additional 18 ha. that we have acquired. A unique leisure, commercial and residential development concept will soon be introduced to the Ilonggo market,” Mr. Go. said.
Artist's perspective of one of the BPO buildings at the Iloilo Business Park
Megaworld is also committed to make Iloilo as one of the country’s biggest business process outsourcing (BPO) hubs in the country.“We will definitely be bringing in new and first-time BPO locators to Iloilo,” Go said, adding that Megaworld will offer close to 100,000 square meters (sqm) of leasable floor area for BPO companies in the next three to five years.
One Madison Place Iloilo
For the residential segment, the company said demand for condominium units in Iloilo Business Park remains high since the first condominium cluster was launched in March.“In less than six months, residential units for the first two towers of One Madison Place have been sold out, pushing the company to launch the third tower last month,” Go said.

Independent research firm Cuervo Far East Inc. earlier released a study showing that land values in Iloilo Business Park will pick up to P54,573 to P58,212 per sqm in the next three years from the current P45,000 to P48,000 per sqm. “The best time to invest in Iloilo Business Park is now because things are already happening. We see great opportunities in Iloilo City, and our township will help realize the city’s vision to become a major driver of economic growth in this part of the country,” Go said.

“We have exciting plans for the additional 18 hectares that we have acquired. A unique leisure, commercial and residential development concept will soon be introduced to the Ilonggo market,” Go said. He said Western Visayas residents should expect brand new components for the residential and commercial markets through Iloilo Business Park.

"A bulk of the additional P10B will go to the development of the additional 18 hectares -we will have a "unique" and very Ilonggo leisure, commercial and residential project concept for this area." Geronimo added. In closing, he also said that it will also include a bike lane along the planned community to be in tune with Iloilo City's environmental thrust. 
Will J.Co Donuts be a part of the Iloilo Business Park? These giveaways certainly are "a taste of what''s to come"!
Iloilo Business Park is modeled after the company’s “live-work-play-learn” lifestyle township formula. Megaworld is the company behind Eastwood City in Libis, Quezon City; McKinley Hill in Bonifacio Global City; and Newport City in Pasay City. In more than 20 years of operations, Megaworld has completed more than 240 residential and office buildings with a total floor area of around six million sqm. Megaworld is the property arm of tycoon Andrew Tan’s Alliance Global Group Inc., which is also into liquor (Emperador Distillers Inc.), fastfood (McDonald’s franchise operator Golden Arches Development Corp.) and hotels and casino (Travellers International Hotel Group Inc.).
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