Megaworld says ‘demand boom’ in Iloilo calls for more residential units

A “demand boom” for residential property in Iloilo City has prompted developer Megaworld Corp. to add the 7th residential tower to its township development, Iloilo Business Park, the company said on Monday.

In a regulatory filing submitted by Dominic Isberto, vice president at Megaworld, the property developer said it is adding 152 prime residential units.

“The interest in Iloilo Business Park has built up to a level that we have never expected. Since the launch of the two hotels, the Festive Walk Mall and Festive Walk Parade, more people want to live in the township,” said Jennifer Palmares-Fong, vice president for sales and marketing.

The number of residential units in Iloilo Business Park has reached 1,819 with an aggregate take-up of around 90-percent to date, the company noted.

“Our residential pipeline is always demand-driven. If there will be more people looking for residential properties in the township, then we will continue to offer more residential properties,” said Fong. —VDS, GMA News