September 06, 2013

Megaworld hikes Iloilo investment to P35 B

Megaworld Corp. is jacking up its programmed investment in the 72-hectare Iloilo Business Park to P35 billion from an initial P25 billion. Megaworld is also committed to make Iloilo as one of the country’s biggest business process outsourcing (BPO) hubs in the country.

For the residential segment, the company said demand for condominium units in Iloilo Business Park remains high since the first condominium cluster was launched in March.

Independent research firm Cuervo Far East Inc. earlier released a study showing that land values in Iloilo Business Park will pick up to P54,573 to P58,212 per sqm in the next three years from the current P45,000 to P48,000 per sqm. - WealthSec