Megaworld allocates P5-B to build 10 office towers in Iloilo Business Park by 2021
April 4, 2014
Property giant seen to generate around 30,000 jobs in the IT-BPO sector in five to seven years
Iloilo City, Philippines, April 4, 2014 – Megaworld, the country’s leading property developer and no. 1 office developer and landlord, will build 10 office towers in the 72-hectare Iloilo Business Park by 2021. The office towers will provide a total of about 100,000 square meters of office space inventory for the biggest cyberpark in Western Visayas, generating approximately 30,000 jobs in the Information Technology-Business Process Outsourcing (IT-BPO) sector.
“Iloilo Business Park is positioned to be Western Visayas’ biggest cyberpark and a major hub for IT-BPO outside of Metro Manila. More and more BPO companies have already expressed strong interest to set up operations in Iloilo Business Park. Most of them are first-time locators,” says Kevin L. Tan, chief strategy officer, Megaworld.
Megaworld is allocating P5-billion for the office towers in Iloilo Business Park.
FIRST BPO LOCATOR
As part of the first phase at the IT-BPO cluster of the township, three office towers are set to be operational within this year – One Global Center, Two Global Center, and the Richmonde Tower.
Colorado-based StarTek, Inc., one of the leading BPOs in the country, with call centers located throughout the US, Latin America, Canada, Honduras, and Costa Rica, will be the first company to set up operations in Two Global Center tower by August this year. The four-storey tower has a total of 9,000 square meters of office spaces that could accommodate around 2,600 workers.
“With StarTek coming in to jumpstart our cyberpark operations, we see Iloilo City rising fast to become a major BPO hub in the region,” declares Tan.
Megaworld is currently the country’s office space developer with around 27 corporate office towers across the country – 11 in Eastwood City, 14 in McKinley Hill, 1 in Newport City, and 1 in The Mactan Newtown in Lapu Lapu City, Cebu. Ten more office towers are expected to be completed this year in Uptown Bonifacio, The Mactan Newtown, Iloilo Business Park and McKinley Hill.
Megaworld recently announced that it is expanding its office space inventory to 712,000 square meters this year, cementing its leadership as the Philippines’ no. 1 office developer and landlord.
Currently, an estimated 110,000 employees are working in Megaworld’s townships. The biggest bulk of which are in Eastwood City, the country’s first IT park; and McKinley Hill, the company’s biggest township project in Metro Manila which is also home to four foreign embassies and four international schools.