Megaworld expands investments in Iloilo’s BPO, property industries
ILOILO CITY—Giant property developer Megaworld Corp. will pour in an additional P2.5 billion and double office space mostly for business outsourcing process outsourcing (BPO) firms at the Iloilo Business Park (IBP) by 2020.
Jericho Go, Megaworld’s senior vice president, said in a press briefing here on Friday that its office inventory will increase from the current 45,000 square meters (sq m) to 100,000 sq m. to cater to 40,000 workers.
The existing four office towers (One Global, Two Global, One Techno Place and Richmonde Tower) have already been leased out, according to Go.
The IBP currently hosts seven BPO companies employing 15,000 workers. The companies include StarTek, Transcom, Reed Elsevier, WNS and Iqor.
Go said they plan to put up from four to five office buildings amid a spike in demand for office space. The office buildings will be located at the row of BPO buildings in a two-hectare area in the IBP.
The 72-hectare IBP in Mandurriao District is Megaworld’s biggest investment outside of Metro Manila with total investments expected to reach P35 billion. The area includes the 54-hectare former site of the Iloilo airport.
This year, Megaworld will open Two Techno Place and Festive Walk Office Tower.
The five-level Two Techno Place will have a leasable area of around 10,000 sq m that can cater to 3,000 workers.
The Festive Walk Office Tower, with five levels will have around 12,000 sq m of leasable space for about 4,000 workers.
Go said several BPO companies, mostly first timers, want to come in and expand in Iloilo due to the city’s large skilled labor pool and infrastructure.
He said visitors and investors are impressed with Iloilo’s modern airport, wide and lighted concrete roads and the development of the IBP.
“There is room for development and breathing space,” Go said, adding that 40 percent of the IBP will be open space and with low-rise office buildings.
The IBP is part of Megaworld’s “Visayas BPO Triangle which includes its three township projects in the region—The Mactan Newtown in Cebu, The Upper East in Bacolod City and the IBP.
Go said they expect its total office space inventory in three projects to reach 200,000 sq m by 2020 with half in the IBP.
“We continue to expect a bright prospect in Iloilo’s BPO industry,” he said. IDL
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