Iloilo Business Park (IBP), also known just as Megaworld among the locals (after the developer's name), is a 72-hectare (180-acre)[1] mixed-use master-planned central business district in Mandurriao, Iloilo City, Philippines by Megaworld Corporation. It is located on the site of Iloilo's former airport, Mandurriao Airport, which the conglomerate acquired for 1.2 Billion Pesos from the Philippine national government.[2] Megaworld is projected to pour in ₱25 Billion for the entire development in a span of years.[3] It is an integrated township project featuring a commercial district, a lifestyle mall, office buildings catering to business process outsourcing firms, boutique and deluxe hotels, and a convention center.[4]
Initial development includes construction of a road network, the 12-storey Richmonde Hotel Iloilo and Richmonde Tower, Festive Walk, Two Business Process Outsourcing office buildings. The IT complex has been certified as an information technology park by the Philippine Economic Zone Authority (PEZA), granting locators perks such as tax holidays and duty-free importation of equipment among others.[5]
Megaworld is setting aside a 9.7-hectare lot for the boutique hotel and commercial district which is being offered to interested business owners.[6]
Iloilo Business Park increased by an additional 18 hectares (Sta. Rosa) and another 20 hectares, bringing the project to roughly 92 hectares from its initial 54.5 hectare-size.
This is due to the increasing demand for residential and commercial properties and good reception to Megaworld's first development in the region[1] and biggest township in the Visayas, modeled after the live-work-play approach that it claims to have pioneered in the Philippines.[7]
^ ab"Megaworld to expand Iloilo township development". BusinessWorld. 3 May 2013. Retrieved 18 September 2015.
^Iloilo Business Park – Home
^Rendon, Jennifer (14 January 2013). "Megaworld allots P25 B for Iloilo project". The Philippine Star. Retrieved 21 January 2013.
^Montealegre, Krista Angela M. (14 January 2013). "Megaworld to sink P25 billion into Iloilo integrated township project". InterAksyon. Retrieved 21 January 2013.
^"Megaworld builds Iloilo business park". ABS-CBN News. 6 May 2011. Retrieved 8 December 2023.
^"Megaworld's P25B Iloilo business park to be ready by 2015". ABS-CBN News. 14 January 2013. Retrieved 18 September 2015.
^"Megaworld expands Iloilo Business Park as demand grows". GMA News. 3 May 2013. Retrieved 18 September 2015.
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