Megaworld PH plans residential high-rise in $781m Biz park

By Tomas S. Noda III

October 3, 2014

Philippine real estate giant Megaworld Corporation plans to build a new residential tower called ‘The Palladium’ inside the US$781 million business park at the Iloilo City. The Iloilo Business Park is company’s flagship development.

Designed as a modern luxury residential condominium, The Palladium will stand 80 meters high at 22 storeys and will have a total of 482 units.

Jennifer Palmares-Fong, head of marketing, Iloilo Business Park, said The Palladium will be the fifth tower within Megaworld’s multi-million dollar township project in Western Visayas.

Apart from containing a sky garden, infinity pool, fitness center, day care center and a function hall, the first two outward- facing floors of the tower have been marked out as commercial and retail space.
It is expected to have different residential formats like the studio, executive studio, one-bedroom, two-bedrooms; while the top floors will have lofts ranging from 76 square meters to 115 square meters in area.

Megaworld expects the Iloilo Business Park to be home to luxury residential condominiums, business process outsourcing (BPO) office towers, a Megaworld Center Mall, a 1.1-kilometer commercial and retail strip, open parks, transport hub, premium hotels like the Richmonde Hotel and Courtyard by Marriott.

In addition, the business park will have a 3,700-seating Iloilo Convention Center.

The Iloilo Business Park is also expected to bring Megaworld’s pioneering township concept of ‘live- work- play-learn ‘ to Western Visayas.

The concept has already found successful examples in earlier townships such as the 18.5-hectare Eastwood City, known to be the Philippines’ first IT park; the 50-hectare McKinley Hill; the 34.5-hectare McKinley West in Fort Bonifacio; the 15.4-hectare Uptown Bonifacio and the five-hectare Forbes Town Center in Bonifacio Global City; the 25-hectare Newport City in Pasay City, home of the famous Resorts World Manila; the 12.3-hectare Woodside City in Pasig City; the 11-hectare Davao Park District in Lanang, Davao City; and the 28.8-hectare The Mactan Newtown in Lapu-Lapu City in Cebu.

Image: freedigitalphotos.net

Also read:

Megaworld, Travellers International to build $1.4b leisure township in Manila

Megaworld to invest $782.2m in development of two PH townships

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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