Iloilo City—Property company Megaworld recently announced plans to further expand its residential portfolio inside the 72-hectare Iloilo Business Park (IBP) in Mandurriao, Iloilo City.
Hailed as the “Best Township Development” at the 2018 Philippines Property Awards, the IBP promises to showcase a community that blends urban architecture with the historical grandeur of the city, while providing a holistic live-work-play lifestyle.
With a plethora of state-of-the-art offices, commercial developments and residential properties offered, IBP has seen as much as 127% increase in property values, from 2013 to 2020.
"Pinnacle" of success
Set to be the only residential condominium to rise within the township’s boutique hotel and commercial district is The Pinnacle, Megaworld’s sixth residential property inside IBP.
The 20-storey condominium offers 572 units, ranging from studio (up to 34-square meters), studio with loft (up to 56-square meters), executive studio with loft (up to 73-square meters), one-bedroom (up to 40-square meters), executive one-bedroom (up to 61-square meters), two-bedroom (up to 84.5-square meters), two-bedroom with loft (up to 89.5-square meters), and two-bedroom with deck (up to 113.5-square meters).
Promising investment
“Iloilo City, particularly Iloilo Business Park, is an attractive location for property investments,” Jennifer Palmares-Fong, vice president for sales and marketing, Megaworld Iloilo, told the Manila Standard. “Since we started selling our first residential condominium tower in 2013, prices per square meter have already more than doubled. Those who bought a P3 million, 40-square meter unit seven years ago would see their property appreciating to about P6.8 million today.”
The Pinnacle is due for completion in 2026.
Over the past seven years, Megaworld launched several residential condominium towers in Iloilo Business Park. These include the three-tower One Madison Place, Lafayette Park Square, The Palladium, Saint Honore, and Saint Dominique.
Aside from condominiums and office towers, IBP hosts hotels such as the Richmonde Hotel Iloilo and Courtyard by Marriott Iloilo; Festive Walk Iloilo, which was hailed as the country winner for the “Best Retail Development” category at the 2019 Asia Property Awards; the Iloilo Convention Center; the IBP Transport Hub; and the Iloilo Museum of Contemporary Art (ILOMOCA).