Villar-led Vista Land & Lifescapes Inc. said on Wednesday that it would be expanding its Iloilo-based residential project into a “communicity” able to provide residents with everything they need.
In a disclosure, the company said the Vista City Iloilo development would be a flagship project for the Visayas, containing malls, hotels, buildings for the business process outsourcing (BPO) industry and hospitals.
It will be an expansion of the Savannah Glades project, which was the property firm’s first Iloilo development. Opened in September 2000, it now comprises seven residential enclaves covering over 300 hectares and is the largest residential community in Panay Island.
“The integration of the residential project with commercial development will complete Vista City Iloilo’s transformation into a communicity with adequate security and convenient transportation services,” Vista Land said.
Vista Land describes its “communicity” projects as “innovative masterplanned city developments designed to be completely self-contained, with vast properties that offer facilities, amenities, community structures and commercial establishments closer to a city than a mere residential village.”
The project value of Vista City Iloilo was estimated at P40 billion. It will cover about 500 hectares, spread over Oton, Pavia and San Miguel on Panay Island.
The developer said it had allocated at least 100 hectares for the city center, which will house BPO offices, shopping establishments and hotels. It will also have churches with a columbarium, events places and amusement parks.
Establishments located near the development include the University of the Philippines Visayas, Central Philippine University, University of San Agustin, and the West Visayas University; as well as the Western Visayas Medical Center and The Medical City Iloilo.
Vista Land noted that Iloilo City has been attracting major real estate industry players, is the regional capital and economic hub of the Western Visayas and is hosting Asia Pacific Economic Cooperation conferences this year.