Megaworld has revealed more intriguing details about their “Iloilo Business Park” development in Iloilo City during the groundbreaking ceremonies on May 6, 2011. The company said they will be investing P18B to develop the property over the span of ten years to transform the 54.5 hectare “old airport” lot into Iloilo City’s new central business district. The figure does not include investments from locators opening up shop in the property.
Ground Breaking Ceremony of Richmonde Hotel Iloilo and Richmonde Tower on May 6, 2011
In their short term plan, Megaworld Corp. is setting aside P2.5 billion initially over the next two years to develop the road network within the 54.5-hectare IT park and for the construction of Richmonde Hotel Iloilo and Richmonde Tower plus two more BPO office towers within this time frame. The first retail component of the project, Festive Walk, will be completed in the latter part of 2012, after which Megaworld is set to invest more to bankroll the development until 2020.
Design Sketches of the Iloilo Business Park’s commerical strip called the “Festive Walk”
Here’s a quick rundown of the details:
Iloilo Business Park Project Overview
- 54.5 hectares total land area, the largest IT park yet of publicly-listed Megaworld Corporation
- P18B investment by Megaworld over the next 10 years
- P2.5 billion initial investment over the next two years to develop the road network
- Expected to create 24,000 BPO seats, 200,000 square meters of commercial space, and around 35,000 jobs.
- A six-lane highway will serve as the main artery running through the entire length of the property
- Philippine Economic Zone Authority certified (IT) park in January 2010. BPO locators will be entitled to income tax holidays, duty-free importation of office equipment and repatriation of earnings, among others.
Richmonde Hotel Iloilo and Richmonde Tower
- 12-storey building
- Hotel component will host 90 guest rooms, which will cater to businessmen and tourists
- Seventh level amenities deck features play amenities such as a lap pool, children’s pool and fitness center, while the business center on the same level will include meeting rooms and a conference room.
- Richmonde Tower will occupy the second to sixth floors of the hotel, offering more than 9,000 square meters of prime office space for BPO locators.
- Projected completion in the last quarter of 2012
Festive Walk
- Two kilometers total length, which will be the longest shopping and dining strip in the Philippines
- Initial 200 meter section of the Festival Walk will be opened alongside Richmonde Hotel Iloilo and Richmonde Tower
Le Grand Richmonde Hotel
- High-end Hotel counterpart of Richmonde Hotel Iloilo with convention facilities
- Construction to begin after the completion of Richmonde Hotel Iloilo
Two Addt’l BPO Towers
- Five storey twin towers
- Construction to begin after the completion of Richmonde Hotel Iloilo and Richmonde Tower
Iloilo Business Park Project Photo Updates
Richmonde Park Hotel and Richmonde Tower Ground Breaking Photos
Hon. Senator Franklin M. Drilon
Hon. Mayor Jed Patrick E. Mabilog
Presenting the key to the City of Iloilo
At 54.5 hectares, Iloilo Business Park is the largest IT park yet of publicly-listed Megaworld Corporation, the country’s #1 business process outsourcing (BPO) office landlord. The master plan for the entire community includes hotels, BPO office towers, a convention center, a skills training center and retail components. With its premium brands, affordable boutiques and al fresco dining areas for restaurants, the two-kilometer retail and dining strip of Festive Walk is expected to become the next hip hangout for Iloilo’s youth and a vital tourist spot.
Bululigan ta lang ang ILOILO CITY nga mag mayad ah..pati lang kita bala mag asenso ang ILOILO CITY sang tudo kag mag suporta man kita sa mga proyekto sang mga local leaders ta da sa kada lugar naton..suportaran ta man ila advocasiya nga magbuylog gid kita basta sa kaaayuhan lang..Kita na man lang ang pag asa ka iloilo nga maghugpong kag mag tin-ad ini sang tudo ang aton probinsya kag siyudad sang iloilo. Masarangan ta ni ah..umpisahan ta na..amat amat na kita maghimu sang masarangan ta para sa kaayuhan sang siyudad ta..
If you are interested to invest in our residential lots, you may check our Sta. Barbara Heights Township of Megaworld Global Estate Inc. project at http://globalestateiloilo.com/projects/sta-barbara-heights-township/. You may also check Boracay Newcoast and avail of our per-selling prices for village houses, shop houses and boutique houses.
Check our website: http://www.globalestateiloilo.com
@Steve A. As of now, we do not have the condominiums yet. You may contact us at megaworldgeri.iloilo@gmail.com for more details and we will send you more updates.
Thanks!
@Ivan: Mr. Flores, do you have investment projects already lined up for the Iloilo property which OFWs can participate (condominium or condo-hotel spaces perhaps)? I do know a couple of US-based Ilonggos who are interested and want to know. I’m based here in miami btw, we are so excited to see and hear all of these developments in our beloved city. Thank you in advance and mabuhay Iloilo!
@ mur2s… all you need is quantitative easing… print more money so youll obligate to pay for it..spending what you don’t have are being done by con artist to create wealth out of thin air…
ok ah. il e mil u f i wil hav d money.
ey guys im one of the investment specialist of megaworld if your interested in investing just let me know this is my email add ivanvincentflores@yahoo.com
@jurp true….. expatriates work most of their lifetime abroad and then in latter part of their life when they are exhausted in earning…. they’ll retire here in Iloilo and have that lifestyle of rich and famous( to spend those hard-earned money) …. they deserve it anyway…Megaworld Housing is for them … This City is quite good spot for retirees since it gives much value to thier money…. 100,000 in USA worth little less than nothing in a month
baw amo gid ni baka bakahan ta di mga ilonggos abroad. invest, save, retire, enjoy iloilo!
anybody can guid me. is pre-selling commercial unit is available now for marketing in megaworld project iloilo? please give information. thanks. mabuhay iloilo.
how much you got? if not dat much keep 8 2 urself.
we seem to make a common mistake… Iloilo will never lost its status as ” Queen City of the South” since…. Queen of Spain baptized Iloilo City as it is in 1898…. it does not pertain to economic status as what common misconception of our fellow ilongos… so our title is irrevocable… cebu is not.. since they rally against Spain on 19th century… Iloilo City did not….
you mean the Queen of Spain bestowed the title ‘La Muy Leal y Noble Ciudad de Iloilo’ — that until now is inscribed in the coat of arms of Iloilo City. It has never been stripped off from Iloilo City until the present. However, Iloilo City have moved way past the Queen City title already and more comfortable being called the City of Love, with province being the called as the ‘Heart of the Philippines’.
@ kirbs you have your way of distorting the historic and official title of Iloilo City …we never get off from the our past, its a part of us,… part will never leave us … you made another version of history…. are we City of Love? — is it official?—- while i believe people in iloilo are amiable loving and the like… it doesn’t mean out of comport to baptize anything you wanted them to be … i am beginning to suspect you as not a Bona Fide Ilongo
Iloilo ..was and is the Queen City of the South…true to it’s name the place which so rich of history and great people…deserve to be the best of what she will become…
This is a huge project. Hoping lang nga ang natural resources will be used in a nice way and masunod ang environmental compliance. We do not want to see a city progressing but our welfare and health are degrading. I know that we have waited years and years for this thing to happen. Now Iloilo have it and i know Iloilo will prosper. Go forward Iloilo the Queen’s City of the South, The Next Big Thing and A Premier City in 2015….!!!!
Viva Iloilo!
This is now the beginning of a new Iloilo. Let’s make this City to be the center of tourist destination in the Philippines. Let’s all work hand in hand to make this dream come true.
Go Iloilo Go!
for me we are just claiming our title as the queen city of the south and there’s no point of competition..its our time to help each other for the success of Iloilo and to become a premier city by 2015. By using our resources wisely which includes our manpower and a positive attitude, we can encourage investors and improve our tourism..we are hoping and praying for new investments and were looking forward that thru this new businesses, many people can provide basic needs for their families,send there a children to the best universities and colleges here in iloilo.. for the investors, iloilo is a gud place to invest because we are culture sensitive people,we do have a number of talented and hardworking graduates who can compensate in your demands in workplace..we value the oppurtunities you have offered in the city and we are so grateful for bringing new investments here..God bless to all of us…@ marcos: thanks for the update..hoping for more updates sir on panay railways and medicus medical center..
@ Andrew —— Toto are you from iloilo city?— … we seem to make a common mistake… Iloilo will never lost its status as ” Queen City of the South” since…. Queen of Spain baptized Iloilo City as it is i 1898…. it does not pertain to economic status as what common misconception of our fellow ilongos… so our title is irrivocable… cebu is not.. since they rally against Spain on 19th century… Iloilo City does not….
I agree Vic Iloilo is still the Queens City ( Muy Leal y Noble Ciudad de Iloilo)
FULL SPEED AHEAD!!! Teh ano/sin-o ang next nga ma ground breaking naman??