MANILA, Philippines – Property development firm Megaworld has announced that it is launching its second condominium project at the Iloilo Business Park in Mandurriao, Iloilo City.
The 14-storey Lafayette Park Square is Megaworld’s first themed residential condominium at the Iloilo Business Park, featuring French and Spanish architectural designs.
“We are very excited to introduce a new concept for Iloilo. Because of the overwhelming reception of the Ilonggo market to Megaworld’s first residential condominium cluster, we want to offer something new, elegant and sophisticated. We believe the European feel will be a perfect fit for the upscale Iloilo market,” said Jennifer Palmares-Fong, head of marketing for residential business, Iloilo Business Park.
Lafayette Park Square, which is located adjacent to One Madison Place, will have 289 residential units and commercial and retail shops.
It will also feature a third floor amenity deck with a swimming pool and pool lounge, a Jacuzzi, a state-of-the-art fitness gym, a spacious social hall, a daycare center and children’s play area, a reading nook and garden, and a covered sitting area.
Megaworld is projecting sales of around P1.4 billion for the new project in 2014. The project is set to be completed in 2018.
“We are definitely bullish about Iloilo. Aside from the local market, we have seen an increasing demand for residential condominiums in Iloilo from the international market. Around 20 percent of our residential unit sales last year was driven by our international sales,” Fong said.
Megaworld announced the expansion of Iloilo Business Park from 54 hectares to 72 hectares in 2013.
Three business process outsourcing (BPO) buildings of Megaworld are scheduled to be completed in 2014.
The proposed Megaworld Central Mall, meanwhile, is scheduled for completion in 2015.