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Megaworld: Demand rising for commercial properties in Iloilo project
- Source:http://www.pna.gov.ph/index.php?nid=3&rid=895877
- Thursday, June 16, 2016
- By Leslie D. Venzon [(PNA), SCS/LDV]
MANILA, June 16 (PNA) -- Property developer Megaworld Corp. said demand has been increasing for commercial properties in its mixed-use master-planned community development in Iloilo City.
Harold Geronimo, Megaworld head of public relations and communications, cited particularly the Metrobank and Union Bank which bought lands in the 72-hectare property development project where they would establish their regional offices.
“They purchased titled lots where they can (also) build their boutique hotels, showrooms, shop houses,” he told reporters on the sidelines of the BCI Asia awards 2016.
Geronimo said the commercial lots comprise nine hectares. Each lot averages 1,000 square meters to 1,500 sqm per lot.
“Right now it's 80 percent (occupied). And the remaining 20 percent, a lot of Cebu and Davao investors have been calling… I think there has been an interest from Cebu and Davao businessmen to set up their businesses in Iloilo,” he said.
Megaworld senior vice president Jericho Go added, “What is creating the interest, I think it's because of the infrastructure.”