Iloilo Business Park

Iloilo Business Park is a 72-hectare (180-acre) (54 hectares + 18 hectares)^[1] mixed-use master-planned community development in Mandurriao, Iloilo City, Philippines by Megaworld Corporation. It is located on the property of the former Iloilo Airport which Megaworld Corporation acquired for 1.2 billion pesos from the national government.^[2] Megaworld is projected to pour in P25 billion for the entire development in a span of years.^[3] It is an integrated township project that will feature a commercial district, a lifestyle mall, office buildings catering to business process outsourcing firms, boutique and deluxe hotels, and a convention center.^[4]

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, bringing the project to roughly 72 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]

Luxury Residential Condominiums

One Madison Place Luxury Residences is the first condominium unveiled at the Iloilo Business Park by Megaworld Corp.^[8] One Madison Place is actually composed of three towers. The 10-story towers have layouts ranging from studios to one- or two-bedrooms. Each unit will be pre-furnished and has top-of-the-line amenities separated from the first tower. These include the swimming pool with composite wood deck, aqua fitness pool, outdoor spa, outdoor fitness station, function rooms, children’s play area, reading nook with green wall features, trellised seating area, pocket gardens, and a state-of-the-art fitness gym. An arcade of retail shops is also expected to open at the ground floor.

Lafayette Park Square is second condominium project in the 72-hectare Iloilo Business Park. It offers amenities like no other condos in Iloilo City. It commits to the project’s “Live-Work-Play” theme.^[9]

The project is a 14-story single tower with 289 residential units that range from studio to three bedroom layouts, the biggest of which is expansive with more than 100 square meters of floor area.

Lafayette Park Square is right adjacent to the first residential condominium cluster, the three-tower One Madison Place, which was sold out in less than eight months since it was launched in March 2013.

The Palladium, introduced on October 2014, is cited to be the tallest modern luxury residential condominium in Western Visayas. Standing 80 meters high at 22 storeys, The Palladium will also be Western Visayas’ first residential tower with its own skygardens in various floors overlooking the spectacular views of the urban landscape of Iloilo.^[10]

A total of 482 units ranging from studio (from 29.50 square meters), executive studio (from 39.50 square meters), one-bedroom (from 49.50 square meters) to two-bedrooms (from 83.50 square meters) will be available at The Palladium which will be divided into North Wing and South Wing. At the topmost floor of the tower, there will be exclusive loft units ranging from 76 square meters to 115 square meters.

Megaworld Boulevard

A six-lane highway will serve as the main artery running through the entire length of the property.

Office buildings

Initially, 2 five storey buildings will be constructed for Business Processing Outsourcing (BPO) and commercial purposes. Iloilo Richmonde Tower will have the second to sixth floors of around 9,000 square meters for prime office use.

Hotels

Richmonde Hotel Iloilo will occupy the ground floor and 7th to 12th floors of the Iloilo Richmonde Tower. It will host 90 guest rooms and cater to businessmen and tourists. It will have play amenities such as a lap pool, children’s pool and fitness center, while the business center will include meeting rooms and a conference room. Marriott Courtyard Hotel will also be put up by international hotel brand Marriott.

Malls

The Festive Walk Mall will be the first stand alone Lifestyle mall by Megaworld outside of Metro Manila and first upscale mall in Iloilo. It will have 4 levels that would house shops, restaurants, state-of the art facilities including cinemas and event centers.^[11] The Street of Festive Walk, an outdoor commercial and retail strip 2 kilometers in total length,^[2] which will be the longest shopping and dining strip in the Philippines.

Iloilo Convention Center

Iloilo Convention Center, a state-of-the-art convention center will be built on a 1.7-hectare of lot in the district of Mandurriao donated by the Megaworld Corp.^[12] It will be funded by the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and the Priority Development Assistance Fund (PDAF) of Sen. Franklin Drilon.

References

External links

• Visit Official Website: http://www.IloiloBusinessPark.PH
• Iloilo Business Park Condominiums
• Official website
• http://www.megaworldcorp.com/Projects/Office.aspx