Iloilo Business Park to open two new office towers this year

In response to the rising demand for more office spaces in Iloilo City, Megaworld is fast tracking its office tower developments in the Iloilo Business Park by opening two new towers this year. Most of these spaces will cater to the BPO industry, providing more job opportunities for the Ilonggos.

This latest development was announced by Jericho Go, senior vice president, and Harold Geronimo, assistant vice president and public relations head, in a press conference held at Richmonde Hotel, Iloilo Business Park.

The current 45,000 square meters of office inventory in four office towers (One Global, Two Global, One Techno Place and Richmonde Tower) has already been leased out. Due to this, Megaworld is set to double its office space inside the township, which is expected to reach 100,000 square meters by 2020. This will cater to approximately 40,000 workers.

At present, Iloilo Business Park hosts to around 15,000 office workers from the seven BPO companies that are currently based in the 72-hectare township in Mandurriao, which has been positioned to be Iloilo City’s central business district. These companies include StarTek, Transcom, Reed Elsevier, WNS and IQor, among others.

Megaworld's AVP and PR Head Harold Geronimo (left) and SVP Jericho Go (right) show the architectural perspectives of Festive Walk Tower and Two Techno Place, the two new office towers to rise in IBP this year.

“During the last three years, we have experienced a spike in the demand for office spaces in Iloilo Business Park.  Thus, we expedited the construction of our first four towers and we have decided to build more to meet the demand,” says Jericho Go.

The two new towers slated to open this year are Two Techno Place and Festive Walk Office Tower.

Two Techno Place is a five-level office building with an estimated leasable area of around 10,000 square meters. The tower will be able to generate around 3,000 jobs once completed.

Festive Walk Office Tower, on the other hand, is a four-level office building with around 12,000 square meters of leasable spaces. Upon completion, the tower will be able to generate around 4,000 jobs.

“We continue to see a bright prospect in Iloilo’s BPO industry. Several companies, most of them are first-timers in Iloilo, want to come in and expand here,” adds Go.

Last year, Megaworld mapped out the ‘Visayas BPO Triangle’ that gives focus on expanding office developments in its three townships in the Visayas, particularly The Mactan Newtown in Cebu, The Upper East in Bacolod and Iloilo Business Park in Mandurriao, Iloilo. By 2020, the three townships will be able to contribute around 200,000 square meters of office space inventory in Megaworld’s rental portfolio.