Riding on its momentum as the country’s largest office lessor and developer today, property giant Megaworld is reinforcing its leadership in Western Visayas as it reports a commanding 48% market share in Iloilo’s office sector, according to data gathered from Colliers International.
This continued dominance is fueled by the sustained demand within its 72-hectare Iloilo Business Park township, where it currently hosts 13 office developments with a combined total gross leasable area (GLA) of over 205,000 square meters. This includes Enterprise One and Enterprise Two, the first pair of LEED Gold-certified office buildings in the province.
The impact of these developments extends beyond real estate. To date, office spaces within the Iloilo Business Park generate approximately 20,000 direct jobs from BPO and traditional companies, creating an additional 80,000 indirect jobs across the transportation, retail, and service sectors, among others.
This continuing success outside of Metro Manila mirrors Megaworld’s national performance, where it was recently recognized by CBRE as the top performer in office leasing across the country for the first quarter of the year, including in regional markets like Iloilo.
A new product catering to local investors and entrepreneurs
Capitalizing on the high occupancy of its existing office developments in Iloilo at nearly 85%—higher than the industry average of 80%—Megaworld is expanding its office development offerings in Iloilo Business Park with its ‘office-for-sale’ concept through the 19-story International Corporate Plaza (ICP).
ICP provides an efficient and ideal ecosystem for investors, professionals, businesses and Manila-based companies, offering more than 300 office units ideal for tenants like law offices, medical clinics, and design studios who are looking to have their own office space and establish their footprint in Western Visayas.
“We have been catering to top local and multinational BPO tenants through our offices for lease for years, but we also recognize the strong demand from smaller businesses and investors who want their own office space and enjoy exclusive amenities within an integrated township where everything they need is within reach,” says Francis D. Roxas, head of Megaworld Global Offices.
Since its launch, ICP has already seen significant investor confidence, with about 65% of the building sold already and property values appreciating by around 43% to approximately P231,000 per square meter today.
At the center of business activity
Located within the township’s nine-hectare Commercial and Boutique Hotel District, ICP places businesses within walking distance of world-class hotels like Courtyard by Marriott Iloilo, and Richmonde Hotel Iloilo, and the soon-to-open Belmont Hotel Iloilo. It is also just a minute’s drive away from Festive Walk Mall and Festive Walk Parade, as well as themed residential condominiums, museums like the Iloilo Museum of Contemporary Art (ILOMOCA) and the Brandy Museum, and other various cultural landmarks.
ICP offers an exclusive array of managed facilities located on the sixth level that tenants can use, including executive boardrooms and meeting rooms, co-working spaces with dedicated breakout areas, its own executive lounge, and a sky garden.
With International Corporate Plaza complementing the company’s huge office-for-lease portfolio in Iloilo, Megaworld reinforces its commitment to helping shape the nation by driving inclusive and sustainable economic growth in the provinces, and continuing to transform Iloilo Business Park into a premier global business destination.
