Megaworld to develop modern financial center in Iloilo

Megaworld, the Andrew Tan-led property giant, is developing a modern financial center inside the 72-hectare Iloilo Business Park, with several banks and companies already set to build regional headquarters in the district, a ranking official said over the weekend.

Jennifer Palmares-Fong, head of marketing of Iloilo Business Park, said interest has been strong, with commercial lots almost sold out.

“There has been a strong interest from various sectors, particularly financial and banking, to establish their businesses in Iloilo Business Park. Since we announced the township being envisioned as Iloilo City’s new central business district or CBD, everyone wants their presence here,” she said.

Megaworld has allocated nine hectares of the entire township for the commercial district.

It started selling the lots at P47,000 per square meter in 2013. Today, the lots, which range from 611sqm to 1,735 sqm, are now sold at P70,000 or a 49 percent increase from its original price a couple of years ago, according to Megaworld.

Eighty percent of the lands have already been sold to banks and financial institutions as well as local enterprises but Palmares-Fong said the lots are also viable for hotels.

Among the major banks that are set to establish their regional headquarters and offices in Iloilo Business Park’s financial district include the George Ty-owned Metrobank and the Aboitiz Group’s Unionbank.

“Aside from banks and financial institutions, other commercial businesses like car and furniture showrooms as well as regional headquarters of corporations are welcome to the financial district of Iloilo Business Park,” she said.

Megaworld is developing the commercial district, which will rise toward the southern part of the township near the iconic Iloilo River.

It is envisioned to be one of the busiest districts in the Iloilo Business Park once completed. It will be directly connected to the township center via the six-lane Megaworld Boulevard.

Megaworld’s Iloilo Business Park, occupying 72-hectares on the former site of the Old Mandurriao Airport, is envisioned to be the biggest business, lifestyle and tourism hub in Western Visayas.

Aside from the financial and commercial district, Iloilo Business Park will be home to two business hotels – Richmonde Hotel Iloilo and Courtyard by Marriott.

The Iloilo Convention Center, which will be the largest convention facility in Region VI, will also be part of the business park as well as state-of-the-art BPO office towers, luxury residential condominiums including The Palladium, the tallest residential tower in Western Visayas, and the Festive Walk Mall.

In addition to this, Megaworld is also developing The Street of Festive Walk, a 1.1-kilometer commercial and retail strip, which will be the longest dining and retail strip in the entire Western Visayas region. 

The property giant has lined up several projects for the year in Luzon and Visayas including the development of residential projects in the Makati Central Business District, office buildings in Fort Bonifacio in Taguig and its township projects. 

For similar press releases of the article, check out these links: 

http://www.philstar.com/business/2015/08/03/1483783/megaworld-develop-modern-financial-center-iloilo

http://www.msn.com/en-ph/money/companies/megaworld-to-develop-modern-financial-center-in-iloilo/ar-BBlkTbM

http://www.manilatimes.net/megaworld-iloilo-bloc-now-80-sold/205803/

Street of Festive Walk: Soon-to-be Iloilo’s ‘Mecca’ of Leisure

Iloilo City used to be the “Mecca” of gastronomy and high-end bistros in the past as the “Queen City of the South.” Moving forward in today’s recent progress and visible developments, this promising metropolis is gaining a name for itself as the next most attractive destination for food-lovers and leisure-seekers. In Iloilo Business Park, the city’s 72-hectare investment hub for business, lifestyle and tourism located in Mandurriao district developed by Megaworld Corporation as their biggest township project in the Philippines, more exciting establishments and lifestyle options are making Ilonggos aware of where to hang-out, enjoy and experience pleasure.

The Street of Festive Walk is poised to become the longest one-way avenue of classy restaurants, bistros, pubs and retail shops with a walkable 1 kilometer length. It simply offers high-life and extraordinary dining experience for visitors and Ilonggos who are dreaming to have a taste of world-class culinary flavors all in one location. For shoppers, it is another enjoyable passion as they look for the most talk-about and international clothing brands, retail stores and boutiques. Nightlife will never be the same again in Iloilo as Street of Festive Walk will exemplify exclusive activities, wide-choices of leisure and more disco pubs to entice frenzied souls looking for a place to bond and have fun. The Street of Festive Walk will become the center-point of pleasure, day-in or day-out as it connects to the unique lifestyle that Iloilo Business Park is envisioning for Ilonggos or visitors longing to have a foretaste of passion, total experience and simply to find incomparable leisure time in the “city of love.”

The Street of Festive Walk is 40% complete as of July 2015 construction update with an early 2016 tentative opening schedule. Soon, it will become a significant part of lifestyle convergence in Iloilo Business Park, the modern and most-anticipated destination of the city.

Know more about the vision of a grand township emerging in Iloilo City. Call us at (033) 330-3462-65 or visit us online at www.iloilobusinesspark.ph. 

Festive Walk Mall rising at IBP

There are great images of fast developments happening in Iloilo Business Park, the 72-hectare massive business township developed by Megaworld Corporation in the old airport property in Mandurriao, Iloilo City. Among the anticipated establishments is the Festive Walk Mall, a high-end shopping center inspired by Megaworld lifestyle mall in Manila. The mall will feature absolutely high-class international clothing brands, boutiques and retail shops. For food lovers and leisure seekers, the mall will have an events center, high-end bistros, restaurants and 8 world-class cinemas. Across the mall is the Annex Mall, an extended shopping center where exciting boutiques and shops awaits mall-goers. A few steps at the Mall Annex is the Street of Festive Walk, a 1-kilometer shopping and dining destination that will feature classy restaurants, bistros, pubs and even retail stores. Inspired by Iloilo’s world-famous Dinagyang Festival, local culture of grandeur and pulsating progress, the mall was named as “Festive” to replicate the city’s relentless rise as a vibrant epicenter of culture and developments. The mall is a representation of Ilonggos’ love for shopping and fun. After all, Iloilo holds the cultural legacy of having Calle Real, one of the oldest business districts and Hoskyn’s, the oldest department store in the country founded in 1877. Surely, the Festive Walk Mall is a transcending cultural legacy from the past into the future of Iloilo City. The mall which is already 25% complete in terms of construction update envision to have its soft opening sometime next year, and will highlight the classy lifestyle that Iloilo Business Park is known for.

Iloilo is a “Festive City,” experience ultimate shopping in the future at Festive Walk Mall.

To know more about the project and the whole Iloilo Business Park township lifestyle, call us at (033) 330-3462-65 or visit us online at www.iloilobusinesspark.ph.  

7 Financial Advantages of Condominium Investment

Real estate in the Philippines has proven to be a solid investment in recent years. With the steady growth of the real estate market since 2001– when commercial and residential properties were in great demand because of the sudden growth of the BPO industry—more and more people are now seeing great financial opportunities in condominium investment.
Although it may take a while to receive capital gain from it, real estate assets such as condominiums are highly practical and can be your safest bet in investing. Condo prices today are now offered at flexible terms, making it easy for young buyers to purchase their first unit.
The upshots of the real estate industry in this economy have been nothing short of rewarding in the past decade, so you can be sure to have a promising investment in this sector. Real estate investments also pose minimal risks because there is a multitude of ways you can gain profit from any given property.
But before you buy a condo, it is good to be aware of the financial benefits of owning one. Knowing the economic opportunities in owning a condo will help you utilize your property in the most financially-rewarding ways possible.

Here are 7 financial benefits you can get from owning a condo:

1. You can access first-class amenities at a very low cost.
While condo living would require you to pay a certain amount for the maintenance of the building’s amenities (usually in the form of association fees), this fee is still much lower than the amount you would spend should you want your own rooftop pool at home, or set-up your own private gym. One of the greatest perks that come with living in a condo is the bargain you get with first-class amenities and facilities.

2. Condos in key cities have high resale value.
The property sales value of a condo rises with inflation, the improvements of the building, and the overall appeal of the condo in terms of prestige and location. With the top condo living locations in the Philippines, you can be sure to be rewarded with a competitive market and high condo resale value.

3. Condominiums can easily be rented out.
With the growing condo rental market in the Philippines, you can also offer to rent out your property at a competitive rate and get favorable returns. Many employees and students these days, especially those who are not originally based in the metropolitan area, prefer to rent a condo than travel long distances from their home to their school or workplace. This a smart financial move for condo owners who are looking to gain profit from their condo unit without having to sell the property itself.

4. Condo units are easily transferable.
Having a real estate investment, such as a condo, is a practical way to transfer wealth. Because condos in the Philippines are situated in key locations, parents usually find that it is highly convenient and practical for their children to live in a condo near their school or workplace, instead of renting out an apartment that would most likely cost a fortune.

5. The initial financial demands of owning a condo are much less.
Buying any real estate property would require a certain amount of down payment. If you are a first-time home buyer or a young investor in the early stages of your career, then it is likely for you to get a better deal at a condo. The money you could potentially save after paying a smaller down payment can be used to make the process of owning a property—and eventually living in it—more affordable.

6. Owning a condo poses minimal utility and maintenance costs.
A valuable property such as a condo can be maintained at a lower cost. Sharing the cost of the building amenities with a number of homeowners can translate to savings that can be used to purchase other things.

7. A condo unit is an ideal business space.
Today, more and more businesses are housed in condominiums. This is because most condos are located near central business districts, making it a practical and sustainable venue for an office.

Iloilo Business Park is Megaworld’s largest premier township in the Philippines with a wide-range of lifestyle, business, commercial and investment preferences located in the old Iloilo airport in Mandurriao, Iloilo City. Iloilo Business Park offers three luxurious residential towers such as One Madison Place (3 towers), Lafayette Park Square and the tallest condo tower in Western Visayas – The Palladium. Avail their first-class condominium units with ongoing holiday promos and easy-payment terms to secure a vibrant lifestyle like no other. 

For inquiries, give us a ring at 330-3462-65, 0928-353589451 and 0917-3524888. Visit our showroom at the ground level of Richmonde Tower, 8 Enterprise Road, Iloilo Business Park, Mandurriao, Iloilo City. 

A Confabulation with a Real Estate Expert

For most part of his life, he has put his heart in the real estate business and the corporation world where he learned the ropes to succeed, to inspire people and to usher significant changes.  If we look closely on his trails of passion and extensive career experience in real estate consultancy and management in the Asia Pacific Region that spans for over 25 years, Professor Enrique “Eric” Soriano can be considered as an icon and a pillar in his chosen field that transcends inspiration. Presently, he is the Chair of the Marketing Cluster and Program Directorship for Real Estate at the Ateneo Graduate School of Business. As a true-bloodied Ilonggo who grow up in Iloilo City, his recent invitation as the resource speaker for Iloilo Business Park’s Open House Event at Richmonde Hotel Iloilo on July 25 is a sort of “homecoming” for this popular real estate expert who never hesitated to share his wisdom, success-driven talk and amusing wit to an audience filled with optimism, to understand the true vision of the real estate business. In an up-close interview, Professor Eric Soriano selflessly bared his lifelong passion and sharpened perspective about the world of real estate.

What makes Real Estate an important aspect in developing our nation’s economy?

As of the last count, real estate supports 42 sub-industries in the Philippines from construction, steel to wood industries. In short, real estate literally helps the stability of these 42 sub-industries that directly supports workers and local businesses. There are so many sub-industries that directly benefited from the surging success of the real estate nowadays. The status of the real estate industry t is the reflective barometer of the kind of economy that we have in our country today.  If a nation’s economy is moving up, real estate follows. Real estate attracts investments and businesses to thrive due to investors’ trust to our economy. Also, real estate is the ultimate gauge to elevate the quality of living in every country allowing people and families to secure a decent home. The existence of a strong real estate industry transcends stability and directly supports vital industries.

What are the advantages of Iloilo Business Park as a township away from major megacities in the country?

First, land property prices in Iloilo City are affordable. Statistics shows that it’s just 10% compared to most expensive prime commercial lots in Manila’s major commercial areas. Second, the kind of concept and master plan that Megaworld initiated for Iloilo Business Park is obviously comparable to some world-class developments. Everything you need are already here in this complete mixed-use commercial complex. It is a visionary integrated community and business township that shows sustainability and strong investment potential. I was toured earlier in the area and I saw similar township developments in other countries. So basically it raises the standard of Iloilo as a 21st century premier city.

As an Ilonggo, what are your impressions about the recent developments in Iloilo City?

Since my parents are both Ilonggos, I studied here and I came back where I truly belong - Iloilo has changed a lot and the development is impressive.  Iloilo’s recent success can be credited to its visionary mayor in the person of Mayor Jed Patrick Mabilog. As a leader, he is a very creative, efficient and he thinks out of the box. He is not your typical politician because aside from being dynamic and active, he’s actually a good marketing guy. He has the drive and the vision to put Iloilo City in the map of most developed cities nowadays.

What is your best advice for clients and investors looking for condominium and commercial areas especially for those planning to live in Iloilo Business Park?

Iloilo Business Park is a self-contained integrated township where everything from business to leisure spots can be seen, a visionary master-planned community that speaks highly of remarkable developments. For usual real estate projects, developments are mostly standalone with “a one building affair” and that’s it. But here in Iloilo Business Park, it is a massive plan that is so complete and highly-integrated with so many anchors linking to commercial establishments, hotels, offices and convention facility. For most investors, this is definitely a confirmation of the real value for money and investment. You’re not just buying a condominium or commercial areas, you’re actually buying the whole township, a dynamic and integrated community that holds great potential for business.

Can you share with us valuable tips for people like property consultants pursuing a career in the real estate business?

First, they must have the “patient-capital.” They have to be very patient because as the saying goes “Rome wasn’t built overnight.” It takes a little longer to succeed in this career, and therefore, there’s a need for them to embrace the concept of the development that they promote.  In the case of Iloilo Business Park, they should learn to fully internalize the “township concept,” share it with their clients and in the long run, they would be able to sell the project with credibility and confidence. Here, they are selling condominiums as not just a home but it comes with a complete integrated township, a modern community suitable for business and high-end lifestyle.

Can you share with us your most significant achievement in your career in the real estate business?

Well, I consider the passion to be able to advocate for best practices in the real estate business as the significant highlight of my career. I think it is my dream to educate buyers and investors, empower sellers and developers with the right kind of information they need in this kind of business and career.  It is my goal to educate them on what they need to know and emphasize “value-creation” in real estate.

Personally, I want to advocate for an eco-friendly and pollution-free lifestyle in a modern township to elevate the quality of life. When my father passed away last year because he was sickly due to air pollution, I realize how important it is to live in a clean, close-to-nature and serene community amidst the active developments taking place in it.

Lastly, do you have any favorite quote or words of wisdom from a significant real estate icon?

I had the opportunity to meet Dr. Andrew Tan, the visionary owner of Megaworld Corporation. In our conversations, he would always highlight a very important element and used to say that “integrity is non-negotiable.” If I may add something - “integrity has no day-off.”  For instance, we should learn to look for “value” in everything that we do and pursue - value for money, investment and time, time is gold for those who are yearning to succeed in life. For Dr. Andrew Tan, Iloilo Business Park is the product of his desire to raise the standard of life in Iloilo City. I admire him because he is very passionate with his vision and dreams in the real estate industry.

For more information about this real estate expert, visit his official website at www.enriquesoriano.com.

Condo Living: A Must-Have for Young Professionals

We have this pre-conceived notion that condo buying is a luxury that only OFW retirees or affluent business magnates can afford a condominium. But times have changed, and people especially the young professionals are keeping up with the fast-paced lifestyle of an ever growing, expanding metropolis like Iloilo, whose prominence in terms of investment and tourism can be seen these days. For young professionals, either a single or young couple magnetized by the bright lights and business opportunities that waits in Iloilo City, living in a highly-urbanized city means looking for an abode that offers convenience, luxury and stability.

Young professionals dreaming to live in a condominium should consider relevant factors that would provide them ease and stress-free lifestyle. For one, location is very important to consider in choosing a condominium. It should be close to every day convenience such as malls, retails stores, hospitals, business offices, places of interests, leisure and entertainment spots. Relaxing activities offered by condominium amenities like swimming pools, reading nook, parks, fitness gym or coffee shops can be helpful if situated within the condominium complex. Also, it lessens the stress when one is working nearby to his/her work office, and if employment career opportunities are just nearby the neighborhood   BPO offices and high-profile companies often rent in prime locations which is the center point of employment for bachelors and bachelorettes.  Young professionals and career-driven individuals are mostly workaholic. They devote most of their time focusing in developing a competitive career and building future investment for themselves. Thus, it is convenient for them to own and invest for a condominium unit that complements their fast lifestyle.  Renting a house or apartment is unwise for those saving for their future.

Iloilo Business Park, Megaworld’s most-complete township in Mandurriao, Iloilo City, offers residential condominium units that exudes versatility concept of lifestyle – fast-paced, prime location, first class amenities and easy-payment terms. Its two sensational residential condominium towers – the Lafayette Park Square and One Madison Place provides exciting options for great living with various units such as Studio, Executive Studio, One Bedroom and Two Bedroom. It starts with a reservation fee and a 4-year payment terms that could prepare them for a better and vibrant future. Keeping up with the metropolis lifestyle in the “city of love” with a multi-facetted transformation complements the need for young professionals to cope with the elevating concept of modern living.

Once you started living in the neighbourhood of the privileged few that is Iloilo Business Park, the concept of convenience and style expands beyond your own abode – it makes you own the passion of the whole township where future defines career and lifestyle luxury, a definite gift for yourself.

Live the style and convenience now. Give us a ring at 330-3462-65, 0928-353589451 and 0917-3524888. Visit us our showroom at the ground level of Richmonde Tower, 8 Enterprise Road, Iloilo Business Park, Mandurriao, Iloilo City. Check us online at www.iloilobusinesspark.ph.

 

Eric Soriano Talks about Real Estate in a fast-rising Philippine Economy

“The Philippines is no longer a sick man in terms of economy in Asia next to China for the last 8 years,” says Professor Enrique “Eric” Soriano, an international real estate expert whose expertise transcends vision into success as he currently fulfils his passion as chair of the Marketing Cluster and Program Directorship for Real Estate at the Ateneo Graduate School of Business. Professor Soriano’s extensive career experience in real estate consultancy and management in the Asia Pacific Region spans for over 25 years.

“In terms of economy, the Philippines is experiencing a steady upward growth in the economy, and one of these factors is the steady rise of the real estate sector,” he added. He talks with sheer passion and sometimes, entertaining yet witty remarks as guest speaker for Iloilo Business Park’s recent open house event entitled “Merience Cena” at the function hall of Richmonde Hotel Iloilo last July 25. According to him, real estate contributed a lot in invigorating the economy, and steadily brought visible stability with the influx of real estate projects happening all over the country. Filipinos should now have a sense of value and pride of their country because we are on the verge of elevation in terms of our economy and role in development in Southeast Asia.    

Professor Soriano believes in “creating and conceptualizing value for real estate.” It is very important to consider our short-term and long-terms goals as an intelligent approach in the real estate investment. Though there is a soaring rise of developments in the real estate business, but still, those who intend to invest must know how to put their hard-earned money wisely by choosing credible developers. He emphasized the need to get your money’s worth, and the first thing to consider investing is finding out its true value. He pointed out that there are various advantages in investing for real estate either in megacities like Manila or uprising metropolises like Iloilo outside Luzon. Iloilo Business Park, Megaworld Corporation’s largest multi-facetted integrated business township that spans 72-hectare in Mandurriao, Iloilo City is the right kind of project that investors should consider investing in.

Professor Eric Soriano discussed about the importance of choosing the right real estate project and developer for your dream investment. (photo by Ronelo Ladiao) 

“What makes an ideal place to live and invest?,” he asks the audience while his changing the slide for his presentation. According to him, the best community to invest must be a place that fuses strong sociability factor – neighborly, cooperative and welcoming; unlimited lifestyle access and linkages for walkable spaces, various conveniences from nearby establishments and transportation accessibility; supports different leisure activities within the area, and must transcend visuals for comfort – clean, charming, attractive and historic scenery. He further discussed that an integrated community must be “people oriented development.” Simplifying the idea emphasizes density – urban development not sub-urban, diversity- mixed-use and mixed income, and design – walkable development. When these important aspects of an integrated community or a business township will be met successfully, then it is the best time to invest by buying a condominium or invest in commercial lots where business opportunities are possible. Iloilo Business Park is one of the country’s most complete business townships in the Philippines that offer a near-complete lifestyle with multi-functional accessibilities.   

As the discussion turned interesting, he talks about the true value of real estate economics, statistics and metrics that ultimately leads to synergy of developments and tangible steady surge of economic progress. Before he ended his significant talk, he quoted centuries old Chinese proverb that cleverly pose the question: “when is the best time to plan a tree?” The answer was 20 year ago, but the second best is now. Real Estate is about envisioning something great for your future, and it should start with the investment of trust and credibility with developers that will ultimately lead to the fulfillment of our dream lifestyle.  

Professor Eric Soriano received a token and certificate of appreciation from Iloilo Business Park's dynamic Head of Sales and Marketing, Jennifer Ann Palmares-Fong. (photo by Ronelo Ladiao)

Afterwards, he told the audience that he is open for questions. Like a well-motivated and inspired group of audience sharpened by true sensible speaker who speaks from experience, the questions overflowed. But from what we’ve learned from him - the best choices in life are those pursued intelligently that holds greater purpose set to transcend change.   

Looking for a lifestyle and investment that really matters? Make that call now at (033) 330-3462-65 or visit us in our showroom at the ground level of Richmonde Tower, 8 Enterprise Road, Iloilo Business Park, Mandurriao, Iloilo City. For online, visit us at www.iloilobusinesspark.ph.