Leading property developer Megaworld Corp. said it will build the first residential tower in Western Visayas that targets the upscale market in the region.
The company said The Palladium, integrated in the Iloilo Business Park project, will begin construction soon.
The Palladium offers a total of 482 units, with sizes at 29.5 square meters for studio-type rooms; 39.5 sq m for executive studio; 49.5 sq m for one-bedroom units; and 83.5 sq m for two-bedroom units.
At the topmost floor of the tower, there will be exclusive loft units, ranging from 76 sq m to 115 sq m, the company said.
“Since last year, we have been experiencing consistent growth in the demand for residential towers in Iloilo Business Park. Every day, we get inquiries about new projects, and everyone wants the best views and amenities from the condominiums that they look for,” said Jennifer Palmares-Fong, Iloilo head of marketing Business Park.
“We are offering a unique living experience at The Palladium. Our loft units will be [the] first-of-its-kind in Iloilo City and the entire Western Visayas, and our amenities will raise the bar of this city’s lifestyle for our future residents,” she said.
The Iloilo Business Park is a 72-hectare township development, which is poised to be the Western Visayas’s biggest business and tourism hub located at the site of the old airport in Mandurriao district.
Megaworld has allotted P35 billion for the development of the township for the next 10 years, making it the company’s single-biggest investment outside Metro Manila.
The development will also have its own office towers for the business-process outsourcing sector, a 1.1-kilometer Festive Walk commercial and retail strip, open parks, transport hub, hotels such as Richmonde Hotel Iloilo and Courtyard by Marriott Iloilo, and the 3,700-capacity Iloilo Convention Center.