Megaworld expands Iloilo township project

Property developer Megaworld Corp. has unveiled its sixth residential tower in the 72-hectare Iloilo Business Park township—a French-inspired mid-rise condominium with P1.5 billion worth of property inventory.

The 10-story residential tower called Saint Honore will offer 168 units, ranging from a studio to two-bedroom units sized between 24 and 77.5 square meters.

The units are selling for as low as P2.9 million to as high as P9 million each, based on the introductory price.

Saint Honore is envisioned to be an exclusive residential community inspired by the classic architectural designs of the shophouses, boutiques, museums and retail rows of the Rue Saint-Honore, a popular street in downtown Paris.

The units are expected to be turned over to homebuyers by 2021.

“Ilonggos will get to experience the world-renowned beauty of Paris with Saint Honore. Amid all of its grandeur and Parisian lifestyle, future residents are assured of utmost exclusivity, privacy, and serene atmosphere in this first-of-its-kind residential enclave in Iloilo,” Iloilo Business Park vice president for sales and marketing Jennifer Palmares-Fong said in a statement on Thursday.

“Saint Honore will be a short walk to and from Richmonde Hotel, Marriott Courtyard Hotel, the Iloilo Convention Center and the Festive Walk Mall. Walkability around the township is a key selling point of this development,” Palmares-Fong added.

Envisioned to be the biggest business and tourism hub in Western Visayas, Iloilo Business Park in Mandurriao is also home to other condominium towers (One Madison Place, Lafayette Parksquare and The Palladium), Iloilo Convention Center, Marriott Courtyard Hotel, Richmonde Hotel Iloilo, modern business process outsourcing office towers and the Festive Walk Mall.

The first residential tower in Iloilo Business Park – One Madison Place – was launched in 2013.

The properties have appreciated by an average of 18.6 percent each year in the last three years.