Megaworld expanding Iloilo project

 

PROPERTY DEVELOPER Megaworld Corp. is expanding its township development in Iloilo City, called Iloilo Business Park, citing brisk demand for residential and commercial projects in the area, the company said in a statement on Friday.

“We are expanding to cater to the increasing demand for residential and commercial properties in Iloilo Business Park,” Jericho Go, Megaworld first vice-president, was quoted as saying in the statement.

He said Iloilo Business Park will expand by 18 hectares, bringing the project to roughly 72 hectares from its current 54.5 hectares.

“During the past months, we have experienced the overwhelming reception of Ilonggos to our first development in the region,” Mr. Go added.

Megaworld declined to cite its plans for the 18-hectare expansion. “The company is yet to reveal its plans for the additional 18 hectares,” the statement said.

Megaworld is currently building Iloilo Business Park, a P25-billion mixed-use development in Mandurriao in Iloilo City, on the site of the old Iloilo airport.

Upon its completion, Iloilo Business Park is envisioned to contain residential condominiums, commercial lots, office towers, a boutique hotel, two luxury hotels, the Iloilo Convention Center, the Megaworld Central Mall and Annex, and the 1.1-kilometer Festive Walk commercial strip.

“Megaworld is one with the local government’s goal of helping Iloilo regain its stature as Queen City of the South, which we are optimistic about in the next five to 10 years,” Mr. Go said.

To date, Megaworld said Iloilo Business Park’s first condominium, One Madison Place, is already 85% sold out, while a still-unnamed second condominium is up for pre-selling this month.

Poised to open next year, meanwhile, are two office towers and the Richmonde Tower hotel, the statement noted.

Megaworld, incorporated in 1989 as Megaworld Properties and Holdings, Inc., is currently engaged in the development of large-scale, mixed-use master planned townships.

Its projects include Eastwood City in Quezon City; McKinley Hill in Bonifacio Global City, Taguig; and Newport City in Pasay City.

Megaworld is currently building Uptown Bonifacio, a P65-billion, 15-hectare mixed-use complex in the Fort Bonifacio area in Taguig City which will have residential, commercial, and office segments. For Megaworld Projects Sales inquiry, & accreditation, contact Mr. Samuel Lao at +63917.3236123.

Shares of Megaworld gained three centavos or 0.72% to P4.20 apiece on Friday from P4.17 each last Thursday. -- Franz Jonathan G. de la Fuente

source: bworldonline.com