Megaworld Corporation top executives discuss exciting developments at the Iloilo Business Park (IBP), the company’s P25 billion mixed-use real estate development in Iloilo City.

Mr. Jericho Go, Megaworld, Vice President for Business Leasing and Development Group, and Mr. Harold Geronimo, Director for Strategic Marketing and Communications host a media conference with Iloilo-based bloggers.

Iloilo Business Park expansion

Megaworld Corp. is expanding the Iloilo Business Park by 18 hectares on top of the 54-hectare old Iloilo Airport lot bought by the real estate giant in 2007. The new addition brings the total land area of the property to 72 hectares.

The company does not currently have definite plans for the 18-hectare expansion of the Iloilo Business Park, according to Mr. Go. He adds, Megaworld will develop the initial 54 hectares first, then work on the remaining 18 hectares.

On the Iloilo Business Master Development Plan released by the company earlier, a considerably large area, not included in initial versions of the Master Development Plan, was labeled as the “Iloilo Central Park.”

Summary of project updates and projections mentioned:

  • Richmonde Hotel Iloilo and Richmonde Tower (under construction)
    • 12th level expected to “top off” next month, June 2013
    • Building structure completed by the end of 2013
    • Opening on the first quarter 2014
  • BPO Office buildings 1 and 2 (under construction)
    • Finished by third quarter of 2014
    • Start construction of 3rd BPO Office building  by third quarter of 2014
  • Projected employment/jobs generated by the Iloilo Business Park development
    • By 1st quarter of 2014 – 1,000 jobs
    • By 2nd quarter of 2014 – 3,000 jobs
    • By the end of 2014 – 7,000 jobs

Other projects planned and under construction at the Iloilo Business Park:  One Madison Place Luxury Residences, Megaworld Center Mall, The Festive Walk, Iloilo Convention Center, Marriott Courtyard Hotel.

Plans new condominium development

One Madison Place, is Megaworld’s first residential condominium development at the Iloilo Business Park.

Three days after pre-selling was made available, more than 50 percent of the total 156 condominium units were already sold out. Currently, the figure stands at over 85 percent.

Actual construction of One Madison Place will start soon.

Mr. Go mentioned plans for a second condominium development following the huge success of One Madison Place.

Iloilo Business Park photo updates

Photo updates of ongoing construction at the Iloilo Business Park dated May 2013.

Megaworld Boulevard, Iloilo Business Park

Megaworld Boulevard, Iloilo Business Park

Richmonde Hotel Iloilo and Richmonde Tower, Iloilo Business Park

Richmonde Hotel Iloilo and Richmonde Tower, Iloilo Business Park

BPO Office Building (left); Richmonde Hotel Iloilo and Richmonde Tower (right)

BPO Office Building along Megaworld Boulevard

BPO Office Building (left); Richmonde Hotel Iloilo and Richmonde Tower (right)

Cleared lot beside the BPO Office Building

Project site of One Madison Place Luxury Residences

Project site of One Madison Place Luxury Residences

For inquiries on BPO offices at Iloilo Business Park, call (0947) 890-5283 or e-mail [email protected]

For inquiries on residential condominiums at the Iloilo Business Park and other Megaworld residential developments across the Philippines, contact Carlene Caratao, Megaworld International Marketing Manager.