A Multi-billion Project that will Spike Up Iloilo's Economy

With the down fall of global economy I am greatly enamored by the fact that the Megaworld Corporation is on its way to increase the economy of Iloilo City even more. As the development of the Iloilo Business Park that is headed by the Megaworld Corp. starts, new job opportunities and businesses will come into picture. This will create a sharp spike the city’s development and tourism.

                                                     

The Megaworld Corp. won the bidding for the said area against two other bidders and bought the area for P1.2 billion in 2007. Since the Megaworld Corp. has purchased the 54 hectare old airport lot in Mandurriao, a lot of clearing of old residential houses has been made in the said area. After adequate planning and polishing of designs, the Megaworld Corp has its groundbreaking scheduled on May 6, 2011 on the 54 hectare lot.  This was announced in last March 31, in Amigo Terrace Hotel. They estimated an amount of 20 billion for the development of this piece of land turning it into a business park that will consist of a hotel, a hospital, condominiums, recreational facilities, a theme park, commercial centers, skills and training center and a lot more. This is probably the biggest development project ever in the history of Iloilo.

                                      Photo by Bernardo Arellano III

A lot of changes will take place in the area. The old airport will be gone and will be replaced by infrastructures that generate business and commerce for Iloilo. This is quite enthralling for the Ilonggos. The airport’s runway will be transformed into an eight lane highway that will be the new route of jeepneys and taxis. Projects on the restoration and development of the Iloilo River are also included. A lot of eco friendly infrastructures that will be the center of leisure activities.

                                             Iloilo Old Airport

These developments do not only help the economy of Iloilo City but also complements the city’s vision of a pristine city in 2015. As I see the Megaworld develop the Iloilo business Park, I have no doubt that in the coming years the Iloilo will become more productive and efficient city with more jobs to offer, buzzing with life.