Megaworld pours P2.5 B to double office space in Iloilo Business Park

ILOILO CITY, Philippines – Megaworld Corp. is pouring in P2.5 billion to double its office space in its township here by 2020.

In a briefing yesterday, Megaworld SVP Jericho Go said the company would add 55,000 square meters to its office space inventory in the Iloilo Business Park.

The company currently has an inventory of 45,000 sqm in its five office towers, One Global, Two Global, One Techno Place, Three Techno Place and Richmonde Tower, which have all been leased out.

Go said the company would add two more towers - the Festive Walk and Two Techno Place.

Two Techno Place is a five-level office building with an estimated leasable area of around 10,000 square meters. The tower is seen 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 space. It will be able to generate around 4,000 jobs upon completion.

“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,” Go said.

Megaworld’s Iloilo Business Park is host to around 15,000 office workers from the five BPO companies.

The 72-hectare township, which Megaworld started to develop in 2011, has been positioned to be Iloilo City’s central business district.

Among its locators include StarTek, Transcom, Reed Elsevier, WNS and IQor, among others.

Go said prospects for the country’s BPO industry remain positive despite concerns on US President Donald Trump’s protectionist policies.

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

Last year, Megaworld mapped out the so-called ‘Visayas BPO Triangle” that will  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.