The Iloilo Convention Center is one of the components of the Iloilo Business Park, which is aimed at getting a chunk of the meetings, incentives, conventions, and exhibits market. (CONTRIBUTED PHOTO)
Megaworld invites Cebuanos to pour their money into its P35B project
Cebuanos and Davaoenos are encouraged to invest in the Iloilo Business Park (IBP), Megaworld’s P35 billion project, located at the heart of Iloilo, the City of Love.
Cebuanos and Davaoenos are encouraged to invest in the Iloilo Business Park (IBP), Megaworld’s P35 billion project, located at the heart of Iloilo, the City of Love.
Harold Geronimo, assistant vice president and head of public relations and external affairs of Megaworld, said Megaworld has allocated 9.2 hectares of land for the commercial lot that has been 90 percent sold already. Jennifer Palmares-Fong, vice president for sales and marketing of Megaworld, said they were able to receive clients from the cities of Davao, Cebu and Bacolod.
Jennifer Palmares-Fong, vice president for sales and marketing of Megaworld, said they were able to receive clients from the cities of Davao, Cebu and Bacolod.
Fong said one of those who showed interests is a Cebu-based home furnishing, which she refused to name. There are around 60 commercial lots, and the prices depend on the location.
Fong said that the price ranges from P50,000 to P70,000 per square meter.
Geronimo, on the other hand, said he expects that more businessmen from Cebu and Davao will consider purchasing the commercial lots, since they have envisioned the first township to be the “largest tourism and lifestyle hub in Western Visayas.”
“Once they bought the lot, they can now build, but there will be guidelines, like they are not allowed to construct BPO (Business Process Outsourcing) and business hotels as it will compete with our own,” he said. Geronimo said they can build their businesses such as boutique hotels and showrooms.
In Megaworld’s IBP, there are four outsourcing firms operating, employing more or less 4,000 individuals.
Geronimo also said Megaworld had already donated the 1.7 hectare lot for the building of the Iloilo Convention Center that may soon attract international meetings and summit.
“Because at the heart of Iloilo Business Park, you have the Iloilo Convention Center, our vision actually for the area is for it to become the convention capital of the country. If you try to look around, Cebu already lost its convention center, that is the reality. While Davao and Bacolod doesn’t have the convention center,” said Geronimo.
The convention center, which was inaugurated August of last year, has a 3,700 seating capacity. It is now under the operation of a private company Premier Island Corp.