Corporate News

Megaworld to expand Iloilo township development

Posted on May 03, 2013 09:49:54 PM | BREAKING NEWS

MIDDLE-INCOME developer Megaworld Corp. is enlarging its ongoing township development in Iloilo City dubbed Iloilo Business Park in order to meet brisk demand for residential and commercial developments 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, noting that Iloilo Business Park will be increased by an additional 18 hectares, bringing the project to roughly 72 hectares from its current 54.5 hectare-size.

“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, however. Officials were similarly still being contacted for more details.

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

Its existing townships are Eastwood City in Quezon City; McKinley Hill in Bonifacio Global City, Taguig; and Newport City in Pasay City.