Megaworld Expands Iloilo Condo Project

By Author: Arra B. Francia
Total Articles: 39

August 20, 2018 | 12:02 am
Arra B. Francia
MEGAWORLD CORP. is expanding its residential offerings in Iloilo Business Park in Mandurriao, Iloilo, with the launch of another condominium tower.
In a statement issued over the weekend, the listed property developer said the South Wing of Saint Dominique will have 159 units. The North Wing currently has 152 units.
The South Wing will offer studio units spanning up to 35 square meters (sq.m.), one-bedroom with up to 50 sq.m., two-bedroom with up to 79 sq.m., and loft units with up to 38.5 sq.m.

“The interest in Iloilo Business Park has built up to a level that we have never expected. Since the launch of the two hotels, the Festive Walk Mall and Festive Walk Parade, more people want to live in the township,” Iloilo Business Park Vice President for Sales and Marketing Jennifer Palmares-Fong said in a statement.
Saint Dominique’s amenities include a swimming pool, kiddie pool, pool lounge, Jacuzzi, fitness center, event halls, game room, day care center, children’s playground, and indoor spa.
The company earlier said it targets to book P1.5 billion in sales from Saint Dominique. The condominium is expected to be completed by 2022.
With Saint Dominique’s South Wing, Iloilo Business Park now has 1,819 residential units, around 90% of which has already been taken up.
Megaworld first started selling residential projects in the Iloilo Business Park last 2013. The company said it will launch more residential units in Iloilo Business Park depending on demand.
“Our residential pipeline is always demand-driven. If there will be more people looking for residential properties in the township, then we will continue to offer more residential properties,” Ms. Palmares-Fong said.
Megaworld generated P4.1 billion in net income attributable to the parent in the second quarter of 2018, 14% higher year-on-year, as revenues likewise went up 11% to P13.7 billion.
This brought the company’s first half attributable profit to P7.25 billion, 13% higher from the same period a year ago. Revenues rose 10% to P26.8 billion.
Megaworld is the property unit of tycoon Andrew L. Tan’s Alliance Global Group, Inc., which also has interests in liquor, gaming, and quick serviced restaurants. —

Source : https://www.bworldonline.com/megaworld-expands-iloilo-condo-project/

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