Iloilo Business Park

Last updated
Iloilo Business Park
Project
Developer Megaworld Corporation
Owner Megaworld Corporation
Website Official website
Location
Coordinates: 10°42′53″N122°32′41″E / 10.71472°N 122.54472°E / 10.71472; 122.54472
Location Mandurriao, Iloilo City, Iloilo, Philippines
Area
 • Total72 ha (178 acres)

Iloilo Business Park (IBP), also known just as Megaworld among the locals (after the developer's name), is a 72-hectare (180-acre) [1] mixed-use master-planned community development in Mandurriao, Iloilo City, Philippines by Megaworld Corporation. It is located on the site of Iloilo's former airport, Mandurriao Airport, which the conglomerate acquired for 1.2 Billion Pesos from the Philippine national government. [2] Megaworld is projected to pour in ₱25 Billion for the entire development in a span of years. [3] It is an integrated township project featuring a commercial district, a lifestyle mall, office buildings catering to business process outsourcing firms, boutique and deluxe hotels, and a convention center. [4]

Contents

Initial development includes construction of a road network, the 12-storey Richmonde Hotel Iloilo and Richmonde Tower, Festive Walk, Two Business Process Outsourcing office buildings. The IT complex has been certified as an information technology park by the Philippine Economic Zone Authority (PEZA), granting locators perks such as tax holidays and duty-free importation of equipment among others. [5]

Megaworld is setting aside a 9.7-hectare lot for the boutique hotel and commercial district which is being offered to interested business owners. [6]

Iloilo Business Park increased by an additional 18 hectares (Sta. Rosa) and another 20 hectares, bringing the project to roughly 92 hectares from its initial 54.5 hectare-size. This is due to the increasing demand for residential and commercial properties and good reception to Megaworld's first development in the region [1] and biggest township in the Visayas, modeled after the live-work-play approach that it claims to have pioneered in the Philippines. [7]

Residential

Residential towers in the township featuring One Madison Place, Lafayette Park Square, and The Palladium (from left to right, respectively) Iloilo Business Park north condos top view (Mandurriao, Iloilo City; 01-26-2023).jpg
Residential towers in the township featuring One Madison Place, Lafayette Park Square, and The Palladium (from left to right, respectively)

One Madison Place Luxury Residences is Megaworld's 1,700-square meter residential development within Iloilo Business Park. It consists of three 10-storey mid-rise towers along Megaworld Boulevard. [8]

Lafayette Park Square is Megaworld's second condominium project within the business park. The 14-storey single tower features French and Spanish architectural designs. [9]

The Palladium, introduced in October 2014, is cited to be the tallest modern luxury residential condominium in Western Visayas. Standing 80 meters high at 22 stories, The Palladium will also be the region's first residential tower with its own skygardens in various floors overlooking Iloilo. At the topmost floor of the tower, there will be exclusive loft units ranging from 76 square meters to 115 square meters. [10]

The fourth and fifth residential projects in the township launched in 2017, Saint Honore and Saint Dominique, are inspired by Parisian lifestyle. It will have ten levels with 168 and 152 units respectively. Both towers will share a common podium and amenity areas. Both condominiums will have 2nd towers each. [11] [12]

The sixth condominium in the township, The Pinnacle, is a 20-storey luxury residential project of Megaworld. It will be built adjacent to the International Corporate Plaza and Courtyard by Marriott - Iloilo hotel.

Megaworld's seventh condominium and ninth residential tower in the township, the 22-storey Firenze, is an Italian City of Florence-inspired condo that will rise beside The Palladium at the northern portion of Megaworld Boulevard. [13]

Office buildings

Three Megaworld office towers were initially developed to cater mainly to business process outsourcing companies. They combine a total of 25,000 square meters of leasable space and could accommodate a total of 10,000 employees. These are One Global Center, Two Global Center and the Richmonde Tower which also houses the Richmonde Hotel Iloilo. Construction of two more office buildings, namely One Techno Place and Two Techno Place, commenced last 2015 and are set to occupy a total of 19,000 square meters of leasable space housing an additional 8,000 employees. [14] [15]

Torre del Reloj (The Clock Tower) of Festive Walk Parade at Iloilo Business Park. Festive Walk Parade (Phase 2).jpg
Torre del Reloj (The Clock Tower) of Festive Walk Parade at Iloilo Business Park.

Other IT-BPO office towers in the township include the Festive Walk Parade Tower, One Fintech Place, and Two Fintech Place.

In addition to the office edifices housing mostly to IT-BPO companies, there are also planned corporate office towers in the pipeline that will be built in the township. Notable of which is the International Corporate Plaza, a 19-storey tower with leasable spaces for corporate tenants. It will be the first green designed office tower in the Western Visayas region. Banks such as Metrobank and UnionBank of the Philippines has in their plans to build their regional corporate office towers in Iloilo Business Park.

Hotels

Courtyard by Marriott Iloilo Courtyard by Marriott Iloilo.jpg
Courtyard by Marriott Iloilo

Commercial

The Festive Walk Iloilo is the first stand alone lifestyle mall by Megaworld in Visayas and Mindanao and the first upscale mall in Iloilo. It has two buildings (Main with 3 levels + Annex with 3 levels) housing shops, restaurants, facilities including cinemas and "event centers".[ clarification needed ] The Marketplace by Rustan's occupies as the main supermarket chain in the mall. It will also feature a separate structure which will house the Metro Department Store and Supermarket. [19] [20] [21]

There is also the Festive Walk Parade, a 1.1-kilometer outdoor commercial and retail strip, which will be the longest shopping and dining strip in the Philippines. The first phase had a soft opening last December 20, 2016 with a grand opening happening in January 2017. Succeeding phases will be completed on 2018. [22] [23]

Iloilo Convention Center

The Iloilo Convention Center stands on a 1.7-hectare lot donated by Megaworld Corp, the same site formerly occupied by the apron and terminal of Mandurriao Airport. [24] It was funded by the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and the Priority Development Assistance Fund (PDAF) of Senator Franklin Drilon.

Museums and art galleries

Transport Hub

In March 2019, the Land Transportation Franchising and Regulatory Board announced the opening of a new Premium Point-to-Point Bus Service in Iloilo Business Park Transport hub with express bus services to the airports in Cabatuan, Kalibo and Boracay (Caticlan).

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References

  1. 1 2 "Megaworld to expand Iloilo township development". BusinessWorld. 3 May 2013. Retrieved 18 September 2015.
  2. ↑ Iloilo Business Park – Home
  3. ↑ Rendon, Jennifer (14 January 2013). "Megaworld allots P25 B for Iloilo project". The Philippine Star. Retrieved 21 January 2013.
  4. ↑ Montealegre, Krista Angela M. (14 January 2013). "Megaworld to sink P25 billion into Iloilo integrated township project". InterAksyon. Retrieved 21 January 2013.
  5. ↑ "Megaworld builds Iloilo business park". ABS-CBN News. 6 May 2011. Retrieved 8 December 2023.
  6. ↑ "Megaworld's P25B Iloilo business park to be ready by 2015". ABS-CBN News. 14 January 2013. Retrieved 18 September 2015.
  7. ↑ "Megaworld expands Iloilo Business Park as demand grows". GMA News. 3 May 2013. Retrieved 18 September 2015.
  8. ↑ "Megaworld launches 3rd tower for luxury condo in Iloilo". ABS-CBN News. 23 August 2013. Retrieved 18 September 2015.
  9. ↑ "Megaworld to build Euro-inspired condo in Iloilo". ABS-CBN News. 20 January 2014. Retrieved 18 September 2015.
  10. ↑ Montealegre, K. A. M. (30 September 2014). "Megaworld adds a fifth tower in Iloilo business park on brisk demand". InterAksyon. Retrieved 18 September 2015.
  11. ↑ "Live the Parisian dream at Saint Honore". The Philippine STAR .
  12. ↑ "BusinessWorld | Megaworld adds 7th tower in Iloilo Business Park". BusinessWorld .
  13. ↑ "Press Release". edge.pse.com.ph. Retrieved 2023-05-04.
  14. ↑ Magturo, D. J. (30 June 2014). "Megaworld fast-tracks Iloilo BPO buildings". BusinessWorld. Retrieved 18 September 2015.
  15. ↑ Morales, N. J. C. (5 April 2014). "Megaworld allots P5 B for Iloilo office towers". The Philippine Star. Retrieved 18 September 2015.
  16. ↑ Flores, W. L. (25 May 2015). "P-Noy to unveil Iloilo Business Park on June 11, Negros adapts to change". The Philippine Star. Retrieved 18 September 2015.
  17. ↑ "Megaworld starts construction of Iloilo Business Park project". GMA News. 6 May 2011. Retrieved 18 September 2015.
  18. ↑ "Megaworld to build Courtyard by Marriott hotel in Iloilo". ABS-CBN News. 15 August 2013. Retrieved 18 September 2015.
  19. ↑ Bermejo, K. V. (14 January 2013). "Megaworld's biggest investment outside of Manila to restore Iloilo City's glory". Iloilo News Daily. Retrieved 21 January 2013.
  20. ↑ Taclino, N. (20 December 2016). "Megaworld to open VIP Cinema at Festive Walk Mall Iloilo". NonoyNet. Retrieved 26 December 2016.
  21. ↑ "Megaworld Corporation | Megaworld to open P2.2-B mall in Iloilo business park this year".
  22. ↑ Soriano, E. (10 September 2015). "Iloilo: Next best haven for property investment in Visayas". The Philippine Star. Retrieved 18 September 2015.
  23. ↑ Loyola, J. (30 June 2014). "Megaworld ramps up building construction at Iloilo business park". Manila Bulletin. Retrieved 18 September 2015.
  24. ↑ "P450-M Iloilo Convention Center launched today". The Philippine Star. 23 November 2012. Retrieved 21 January 2013.
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