August 4, 2015 9:42 AM
MANILA – Megaworld Corporation is putting up Iloilo City’s first modern financial center inside the property developer’s 72-hectare Iloilo Business Park.
In a disclosure to the Philippine Stock Exchange, the Andrew Tan-owned company said nine hectares of the township will be set aside as the commercial district, where lots are now selling for P70,000 per square meter, or 49 percent more than the P47,000 in 2013 when the lots were first sold.
According to Megaworld, 80 percent of the commercial lots are already sold to banks such as Metrobank and Unionbank, and other local businesses.
“There has been a strong interest from various sectors, particularly financial and banking, to establish their businesses in Iloilo Business Park. Since we announced the township being envisioned as Iloilo City’s new central business district or CBD, everyone wants their presence here,” said Jennifer Palmares-Fong, head of marketing, Iloilo Business Park.
“Aside from banks and financial institutions, other commercial businesses like car and furniture showrooms as well as regional headquarters of corporations are welcome to the financial district of Iloilo Business Park,” she said.
Rising at the former site of the Old Mandurriao Airport, the Iloilo Business Park is envisioned to become the biggest business, lifestyle and tourism hub in Western visayas.
The park will also have two business hotels – Richmonde Hotel Iloilo and Courtyard by Marriott – the Iloilo Convention Center, business process outsourcing (BPO) office towers, luxury condominiums such as the Palladium, and a shopping mall.