Property giant Megaworld Corp. is launching its seventh residential tower in Iloilo Business Park, citing high demand there.
The company said the 10-story Saint Dominique, valued at around P1.5 billion, would be a Parisian-inspired residential development within the 72-hectare township in Mandurriao, Iloilo City.
“We have sold out Saint Honore in just four months since we launched it late last year. Up to now, there is strong interest on this Parisian-themed development so we decided to come up with another tower using the same inspiration,” said Jennifer Palmares-Fong, vice president for sales and marketing, referring to a previous project.
The project, expected to be completed in 2022, will rise near Iloilo Convention Center, Marriott Courtyard Hotel and Richmonde Hotel.
“During the past four years, we have been experiencing strong demand for residential units in Iloilo Business Park. As the demand continues, we are focused on coming up with new concepts and ideas for our projects,” said Palmares-Fong.
Megaworld claimed residential properties in Iloilo Business Park have appreciated at an average of 18.6 percent annually since 2013. —MIGUEL R. CAMUS