Megaworld rolls out ‘office-for-sale’ offering in Iloilo Business Park

LISTED property developer Megaworld Corp. is rolling out an “office-for-sale” offering in Iloilo Business Park, citing about 85% occupancy in its existing offices, above the estimated industry average of 80%.

In a statement on Tuesday, the company said the move marks its expansion into selling office units, alongside its traditional leasing model, as demand in the township continues to strengthen.

The strategy is being rolled out through the 19-story International Corporate Plaza (ICP), which will offer more than 300 office units for sale.

Megaworld said its Iloilo office portfolio accounts for about 48% of the local market, based on data from Colliers International.

At a property briefing in Iloilo on Tuesday, Colliers Philippines Director and Research Head Joey Roi Bondoc said some regional markets continue to show resilience despite broader challenges.

“While there are some challenges, if you zoom in on certain regions of the Philippines, there are regions that are growing at about the same pace as the Philippine economy, or even growing faster. Western Visayas is one of those regions that continues to record robust growth,” he said.

He added that Central Visayas and Central Luzon are also among the areas posting relatively strong growth.

Megaworld’s footprint in the 72-hectare Iloilo Business Park includes 13 office buildings with a combined gross leasable area of more than 205,000 square meters, including Enterprise One and Enterprise Two, both previously certified under LEED Gold standards.

The company said its Iloilo offices support around 20,000 direct jobs, mostly from business process outsourcing (BPO) and corporate tenants, with an estimated 80,000 indirect jobs generated across related industries.

“We have been catering to top local and multinational BPO tenants through our offices for lease for years, but we also recognize the strong demand from smaller businesses and investors who want their own office space and enjoy exclusive amenities within an integrated township where everything they need is within reach,” Megaworld Global Offices Head Francis D. Roxas said.

Located within the township’s Commercial and Boutique Hotel District, ICP is positioned for professionals, businesses, and investors seeking office ownership in a mixed-use development.

“ICP offers an exclusive array of managed facilities located on the sixth level that tenants can use, including executive boardrooms and meeting rooms, co-working spaces with dedicated breakout areas, its own executive lounge, and a sky garden,” the company said.

Megaworld said about 65% of the units have been sold, with prices reaching around P231,000 per square meter since launch. — Alexandria Grace C. Magno