Remaining upbeat on Iloilo’s residential property market despite the coronavirus, tycoon Andrew Tan-led Megaworld Corp. is launching a new 20-storey condominium tower that will bring P1.5 billion worth of fresh residential inventory to its Iloilo Business Park.
Due for completion in 2026, Megaworld’s latest condominium tower called The Pinnacle will have 574 residential units, adding to the 1,741 units so far launched by the property developer at this estate.
This marks Megaworld’s sixth residential development in the 72-hectare township Iloilo Business Park.
“Iloilo City, particularly Iloilo Business Park, remains to be an attractive location for property investments. Since we started selling our first residential condo tower here in 2013, prices per square meter have already more than doubled. Those who bought a P3-million unit with a size of 40 square meters seven years ago would see their property appreciating to P6.8 million today,” Jennifer Palmares-Fong, vice president for sales and marketing at Megaworld Iloilo, said in a statement.
The new tower offers studio units (up to 34 sqm), studio units with loft (up to 56 sqm), executive studio units with loft (up to 73 sqm), one-bedroom units (up to 40 sqm), executive one-bedroom units (up to 61 sqm), two-bedroom units (up to 84.5 sqm), two-bedroom units with loft (up to 89.5 sqm) and two-bedroom units with deck (up to 113.5 sqm).
At the fifth floor deck, the residential tower will have the following amenities: lap pool, kiddie pool, fitness center, outdoor fitness area, function room, outdoor lounge, daycare center, children’s play area, jogging path, private dining room and an atrium garden. The property will also have a three-level podium parking facility with its own driver’s lounge. INQ