A contract to acquire the lot in old Airport was entered by Megaworld , SM Holdings and Rockwell by Lopez'es among others between Iloilo City . Rockwell back out. SM plan to convert the area into residential did not make it. Megaworld supremely believes in the Queen City of the South and convert it into a magnanimous Shopping and Business District. Providencially , Megaworld made it.
" We are very excited , this is a wise investment. Iloilo is progressive city with a very cooperative local governmnt unit , and we want to be a part of that growth. We will create a community - we want to add and enhance the city's growth. We dont want to wait any longer , the opportunity is there. This is a rare opportunity for us to transform our site into a vibrant economic catalyst of Iloilo...... "
Kingson Sian , vice President Megaworld.
“Iloilo is very close to the heart of our chairman, Dr. Andrew Tan. This is the
first province that he visited while he was still working. At that time, he fell
in love with the province. I think it struck him that much that the acquisition
of the property is very sentimental to him,” source
“Iloilo has been a well-kept secret,” says Jericho Go, Megaworld’s first vice president for Business Leasing and Development. “It’s the regional center of Western Visayas, it has rich history and culture, it has the infrastructure and its labor poll is world-class. So when Megaworld found the opportunity to buy the old Mandurrio airport, we knew that Iloilo is the perfect location for our next project.” source
The government through Drilon , Department of Tourism and the Tourism Infrastructure and Enterprise Zone Authorityto build Convention Center in the area
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One Madison Condominium sold like hotcakes
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Richmond Hotel is on-going.