DEVELOPMENT in the Iloilo Business Park, a project of real estate giant Megaworld Corporation, is proceeding rapidly, an update on the project’s website said.
The 72-hectare Iloilo Business Park occupies the site of the old Iloilo airport in the Mandurriao District of the city, and is touted by Megaworld as the largest commercial and business township in the Western Visayas.
Built around the Iloilo Convention Center, which was the official venue of the APEC ministerial meetings in 2015 and is slated to host side meetings of the Asean conference this March, the Iloilo Business Park contains a number of commercial, residential, and leisure developments.
Besides the Convention Center, other commercial developments include a dedicated Business Processing Outsourcing (BPO) district, which Megaworld said would consist of a total of 10 buildings within the next 10 years, providing an estimated 30,000 jobs. Four BPO buildings – One and Two Global Center, and One and Three Techno Place – have already been completed and are operating, Megaworld said.
Nearing completion is the district’s second upscale hotel, the Courtyard by Marriott, a 15-story hotel catering to business visitors that will join the Richmonde Hotel Iloilo, which opened in 2014.
Construction is also ongoing at the Festive Walk Mall, expected to open sometime this year, which will anchor the 1.1-kilometer Festive Walk Parade. The Parade is a pedestrian-friendly commercial strip featuring high-end restaurants, bistros, retails shops and unique destinations, and which opened on December 20 last year with an initial 10 commercial establishments ready for business.
Four residential condominium projects are also located within the Iloilo Business Park, including the One Madison Place, Lafayette Park Square, The Palladium, a 22-story tower that Megaworld said would be the region’s tallest when completed, and Saint Honore, a Parisian-inspired condo tower.
The first of the four residential projects to be completed according to the Iloilo Business Park online update will be One Madison Place, with turnover of the first condo units anticipated in the second half of this year. Lafayette Park Square is currently scheduled for completion in 2018, and turnover of The Palladium is expected sometime in 2019.