The Evolution of Iloilo Business Park: What’s Here, What’s Next, Why It Matters

Ilonggos have witnessed a remarkable transformation in the heart of Iloilo City. If you haven’t been to
Mandurriao lately, you’re in for a surprise – the Iloilo Business Park (IBP) is now a vibrant “city within a city.”
What was once the old Mandurriao airport has evolved into a 72-hectare mixed-use township that’s
bustling with new businesses, homes, and attractions. In this 2025 update, we’ll take you through
IBP’s journey, its latest developments, and why it matters for Ilonggos and beyond.

From Old Airport to Visionary Township: A Brief History

Not too long ago, the IBP site was literally a runway. When the old airport closed in 2007, property developer Megaworld saw an opportunity. They acquired the 54-hectare site for ₱1.2 billion and unveiled an ambitious masterplan to pour ₱25 billion into Iloilo’s first large-scale business township. Thus, around 2011-2013, the vision for Iloilo Business Park was born – a live-work-play community poised to become the new central business district of Western Visayas.

Early developments focused on infrastructure and key anchors. By the mid-2010s, Megaworld had built new road networks and introduced the township’s first buildings: the Richmonde Hotel & Tower, the initial BPO office hubs (One Global and Two Global Center), and the early phases of what would become the Festive Walk commercial strip. These efforts paid off; demand for space was so high that Megaworld expanded IBP from its initial 54 hectares to 72 hectares, adding more land for future growth. In other words, what began as a single vision quickly grew into the biggest township development in the Visayas.

Over the next decade, Iloilo Business Park’s skyline rose steadily. By 2015, the Iloilo Convention Center (ICC) stood on the very spot of the old airport terminal – a gleaming symbol of progress funded in partnership with government and designed to host international conferences. Major milestones followed: Festive Walk Mall – Iloilo’s first upscale, stand-alone lifestyle mall – opened its doors, along with the 1.1-kilometer Festive Walk Parade dining strip (the longest of its kind in Visayas and Mindanao). In 2018, the Courtyard by Marriott Iloilo welcomed guests as the first Marriott hotel in Iloilo and the entire region. Each year seemed to bring a new addition, from high-rise condos to office towers, steadily transforming IBP into the thriving community it is today.

ibp-with-labels

A Vibrant Commercial and Lifestyle Hub

Walk through IBP in 2025 and you’ll find a lively commercial and lifestyle hub that rivals those in bigger cities. At the center is the Festive Walk Iloilo Mall, with its upscale shops, restaurants, cinemas, and event spaces – a first-of-its-kind mall experience in Iloilo. Just outside, the Festive Walk Parade stretches over a kilometer, lined with cafes, bars, and boutiques, making it the Philippines’ longest shopping and dining strip. This area comes alive in the evenings, where locals and visitors stroll the strip enjoying live music, Iloilo’s famous cuisine, and al fresco dining under the lights.

Culture and entertainment have also found a home here. The Iloilo Museum of Contemporary Art (ILOMOCA), housed in the Casa de Emperador building, proudly stands as the first museum in the Visayas-Mindanao region dedicated to modern and contemporary art. (Yes, you can even find a piece by Salvador Dalí on display!) There’s also the unique Brandy Museum and a cutting-edge interactive science museum inside Festive Walk Mall – further proof that IBP isn’t just about offices and condos, but about nurturing art, culture, and learning. It’s no wonder that in 2025 the Iloilo City government officially declared Iloilo Business Park as the city’s “Center of Arts and Culture,” recognizing the township’s growing role in Iloilo’s cultural scene.

Another jewel of IBP is the Iloilo Convention Center, the iconic glass-facade structure that anchors the township’s tourism and events sector. The ICC is the largest convention venue in the entire Visayas and Mindanao, capable of hosting thousands for conferences and events. Since its inauguration, it has put Iloilo on the map for large-scale conferences, trade fairs, and even international meetings. Surrounding the ICC and mall are landscaped open spaces and plazas where people relax – a reminder that this township was designed with lifestyle in mind, blending business with leisure.

The Thriving Business District of Iloilo

Beyond the leisure and retail attractions, Iloilo Business Park is first and foremost a thriving business district. Every day, thousands of Ilonggos head to work in the township’s many office towers and BPO centers. Early on, Megaworld established IBP as a certified IT Special Economic Zone under PEZA, which means companies here enjoy tax incentives and perks. This strategy successfully drew in a wave of BPO (business process outsourcing) firms and corporate tenants. Purpose-built office buildings like One Global Center, Two Global Center, One Techno Place, and Two Techno Place house call centers, IT companies, and regional offices, providing employment for tens of thousands of people. In fact, by combining the capacities of just the first few BPO towers, IBP could accommodate roughly 18,000 office workers – and that number has only grown with new developments.

What’s noteworthy is the push for modern, sustainable office spaces. Take Enterprise One, a newly opened office tower in IBP that made headlines as the first LEED Gold-certified office building in all of Western Visayas. With its eco-friendly design and expansive 4,000 sq.m. floor plates, Enterprise One represents the cutting-edge of office development in the region. Right next door, Megaworld is completing the International Corporate Plaza, a 19-story high-rise set to be the region’s most advanced office condominium tower. Touted as IBP’s first “green” corporate tower, the International Corporate Plaza offers office units for sale (a pioneering concept in Iloilo) and is expected to welcome businesses ranging from local startups to multinational companies looking to plant a flag in Iloilo’s booming economy.

IBP’s reputation as Iloilo’s new CBD has even attracted major financial institutions. Both Metrobank and UnionBank have plans underway to establish their regional headquarters within the business park, reinforcing Iloilo’s status as a financial hub for the region. And with a total of 54 hectares of the township designated as a PEZA special economic zone, investors enjoy a business-friendly environment complete with infrastructure, reliable utilities, and government incentives. For our local workforce, this means more job opportunities close to home; for companies, it means a quality talent pool and modern facilities without the Metro Manila price tag. In short, the business side of Iloilo Business Park is flourishing – and it’s helping drive Iloilo City’s economic growth to new heights.

Megaworld Sales Agents and Specialists

Upscale Residential Community and Hotels

A cluster of IBP residential towers (One Madison Place, Lafayette Park Square, and The Palladium, left to right) stands tall, illustrating the upscale condo living now available in Iloilo Business Park.

IBP isn’t just all work and no play – it’s also home to a growing residential community. Over the past several years, Megaworld has rolled out a series of upscale condominiums that have redefined city living in Iloilo. It started with One Madison Place, a set of three 10-story towers that was the first residential enclave completed in the park. Soon after came the likes of Lafayette Park Square, a charming Euro-inspired mid-rise, and The Palladium, a 22-story tower that today ranks as the tallest residential building in Iloilo. The Palladium even boasts sky gardens – a unique feature that gives residents pockets of green space and panoramic views right on their own floor.

As of 2025, several hundred families and individuals now call Iloilo Business Park home, enjoying the convenience of a modern urban lifestyle. The township’s residential clusters are designed with amenity decks, pools, gyms, and green pockets, so residents can unwind without leaving the neighborhood. Daily needs are a short walk away – whether it’s grabbing coffee at the mall, grocery shopping, or attending an event at the convention center. This convenience and quality of life have made IBP’s condos attractive not only to Ilonggos but also to investors from Manila and overseas Filipinos looking to retire or invest in Iloilo.

The residential growth hasn’t stopped. Saint Honore and Saint Dominique, twin mid-rise condos inspired by Parisian architecture, opened their doors a couple of years ago, adding a touch of European flair to the community. On the horizon are new projects like The Pinnacle, a 20-story luxury tower adjacent to the International Corporate Plaza, and Firenze Residences, a 22-story Italian-themed condominium slated to rise next to The Palladium. These upcoming residences promise more innovative amenities – from sky lounges to smart-home features – as Megaworld continues to up the ante for condominium living in Iloilo.

To support this growing community (and its visitors), Iloilo Business Park also boasts world-class hotels. We mentioned Richmonde Hotel earlier – it was IBP’s first hotel, offering 149 rooms of business-class comfort right within a BPO tower. The next was Courtyard by Marriott Iloilo, a 15-floor hotel with over 300 rooms that marked Marriott’s debut in the Vis-Min region when it opened in 2018. And coming very soon is the Belmont Hotel Iloilo, a 12-story, 405-room hotel that will be the largest in the city. Set beside the St. Honore and St. Dominique condos, Belmont is the first of Megaworld’s Belmont brand in Western Visayas. Once it opens (its launch is imminent as of 2025), visitors and tourists will have yet another top-notch accommodation option in IBP – complete with a rooftop pool and all the perks of a modern condotel. With Richmonde, Marriott, and Belmont in the mix, IBP solidifies its status as Iloilo’s new hospitality hub, ready to welcome everyone from business travelers to tourists exploring the city.

Upscale Residential Community and Hotels

A cluster of IBP residential towers (One Madison Place, Lafayette Park Square, and The Palladium, left to right) stands tall, illustrating the upscale condo living now available in Iloilo Business Park.

IBP isn’t just all work and no play – it’s also home to a growing residential community. Over the past several years, Megaworld has rolled out a series of upscale condominiums that have redefined city living in Iloilo. It started with One Madison Place, a set of three 10-story towers that was the first residential enclave completed in the park. Soon after came the likes of Lafayette Park Square, a charming Euro-inspired mid-rise, and The Palladium, a 22-story tower that today ranks as the tallest residential building in Iloilo. The Palladium even boasts sky gardens – a unique feature that gives residents pockets of green space and panoramic views right on their own floor.

As of 2025, several hundred families and individuals now call Iloilo Business Park home, enjoying the convenience of a modern urban lifestyle. The township’s residential clusters are designed with amenity decks, pools, gyms, and green pockets, so residents can unwind without leaving the neighborhood. Daily needs are a short walk away – whether it’s grabbing coffee at the mall, grocery shopping, or attending an event at the convention center. This convenience and quality of life have made IBP’s condos attractive not only to Ilonggos but also to investors from Manila and overseas Filipinos looking to retire or invest in Iloilo.

The residential growth hasn’t stopped. Saint Honore and Saint Dominique, twin mid-rise condos inspired by Parisian architecture, opened their doors a couple of years ago, adding a touch of European flair to the community. On the horizon are new projects like The Pinnacle, a 20-story luxury tower adjacent to the International Corporate Plaza, and Firenze Residences, a 22-story Italian-themed condominium slated to rise next to The Palladium. These upcoming residences promise more innovative amenities – from sky lounges to smart-home features – as Megaworld continues to up the ante for condominium living in Iloilo.

To support this growing community (and its visitors), Iloilo Business Park also boasts world-class hotels. We mentioned Richmonde Hotel earlier – it was IBP’s first hotel, offering 149 rooms of business-class comfort right within a BPO tower. The next was Courtyard by Marriott Iloilo, a 15-floor hotel with over 300 rooms that marked Marriott’s debut in the Vis-Min region when it opened in 2018. And coming very soon is the Belmont Hotel Iloilo, a 12-story, 405-room hotel that will be the largest in the city. Set beside the St. Honore and St. Dominique condos, Belmont is the first of Megaworld’s Belmont brand in Western Visayas. Once it opens (its launch is imminent as of 2025), visitors and tourists will have yet another top-notch accommodation option in IBP – complete with a rooftop pool and all the perks of a modern condotel. With Richmonde, Marriott, and Belmont in the mix, IBP solidifies its status as Iloilo’s new hospitality hub, ready to welcome everyone from business travelers to tourists exploring the city.

Ilonggo Community

What’s Next: Developments on the Horizon

Even with all that’s been achieved, Iloilo Business Park isn’t slowing down – more developments are on the way. A major addition coming soon is the above-mentioned International Corporate Plaza (ICP), which is set to open as one of the most modern office towers in the region. At 19 storeys tall and featuring eco-friendly design, ICP will offer hundreds of office suites to companies and professionals. Its completion will mark IBP’s continuing evolution from a BPO hub into a broader corporate address, attracting traditional firms, startups, and regional headquarters. In fact, interest is high – it’s poised to be Western Visayas’ first office condominium where you can actually own your office space.

On the retail front, residents are excited about the upcoming Landers Superstore in IBP. Landers, a popular membership shopping club, is opening its first branch on Panay Island right inside the township. Slated to begin operations by 2024, this huge store will bring wholesale shopping convenience (and those famed sales and discounts) much closer to home for Ilonggos. Megaworld sees it as a lifestyle boost for the community – imagine doing your bulk grocery shopping, grabbing a bite at the food court, and gassing up your car all in one stop. The addition of Landers will complement the existing mall supermarkets and is expected to draw shoppers from all over Iloilo, not just IBP.

Several other projects are in various stages around the township. The Boutique Hotel and Commercial District, a 9.7-hectare area within IBP, remains a canvas for new enterprises – we can anticipate more hotels, themed restaurants, and unique attractions to rise here in the coming years. There’s also buzz about new road networks improving connectivity: a link road now connects Iloilo Business Park to the developing Iloilo Sunset Boulevard along the coast, cutting travel time and opening up scenic routes to and from the township (a boon for those heading to nearby leisure destinations). Each new project, whether big or small, aims to enhance the “live-work-play” experience that IBP promises.

In essence, what’s next is a continued growth: more offices opening (to meet a growing demand for Iloilo-based workplaces), more residences for new inhabitants, and more amenities to enrich life in the township. Megaworld has committed substantial investments for the next phase of IBP’s expansion, and by all indications, the plan is to keep pushing boundaries – building greener, building higher, and delivering even more innovative concepts to Iloilo.

Why Iloilo Business Park Matters

Finally, let’s talk about why all of this matters – not just for Megaworld, but for investors, residents, and visitors alike. Iloilo Business Park isn’t just another real estate project; it’s shaping the future of Iloilo City and the region. Here’s how:

  • For Investors: IBP represents a robust investment opportunity in a booming regional center. Property values in the township have appreciated as the area developed – early investors in condominium units and office spaces have seen their investments grow alongside the township’s success. The presence of PEZA-accredited zones and modern infrastructure attracts a steady stream of business tenants, ensuring healthy demand for office and commercial spaces. The township’s accolades (like being awarded “Best Township Development in Asia and the Philippines” in 2018) also speak to its quality. In short, IBP has proven that investing in Iloilo can yield returns comparable to, if not exceeding, more traditional hubs. As Iloilo’s economy diversifies, having a stake in IBP – whether through real estate or business ventures – is akin to having a stake in the region’s growth story.

  • For Residents: For Ilonggos who live here, Iloilo Business Park offers an unmatched urban lifestyle without leaving Iloilo. It has given locals the chance to experience condo living with top-notch amenities, 24/7 security, and flood-resilient infrastructure – something only found in bigger cities before. Residents enjoy walking to work or school, strolling to the mall or park in the evenings, and being part of a clean, master-planned community that emphasizes convenience and quality of life. Plus, the township regularly hosts community events – from weekend markets to cultural shows – fostering a strong sense of community. The fact that essential services, entertainment, and even medical clinics are within arm’s reach means IBP has become an ideal place for families and young professionals who want modern comforts and a close-knit neighborhood vibe all at once.

  • For Visitors: Iloilo Business Park has become a new destination in Iloilo City’s tourism circuit. Out-of-towners and tourists now include IBP in their itineraries – whether it’s to shop and dine at Festive Walk, visit the art museum, or attend a convention. The township’s hotels make Iloilo more accessible for large events and conventions, drawing visitors who contribute to the local economy. The ICC’s presence means Iloilo can host international conferences it previously couldn’t, raising the city’s profile. Even casual visitors find the area appealing for leisure: it’s a great starting point to explore Iloilo’s heritage (with the downtown sights just a short ride away) and a relaxing place to unwind after a day of touring. In essence, IBP enhances Iloilo’s appeal by blending modern attractions with Ilonggo hospitality. It shows visitors that Iloilo is not just rich in history and culture, but is also dynamic and forward-looking.

At the end of the day, Iloilo Business Park matters because it embodies progress for Iloilo. It has catalyzed infrastructure upgrades, created jobs, and set new standards for real estate and lifestyle in the region. More than the concrete buildings and investments, it has instilled a sense of pride among us Ilonggos – proving that our beloved “City of Love” can grow and innovate while keeping its charm. As we look ahead, IBP’s evolution is far from over, and we can expect it to continue shaping the economic and cultural landscape of Western Visayas. For anyone invested in Iloilo’s future – be it a business owner, a young professional, a local family, or a visitor falling in love with the city – Iloilo Business Park stands as a testament to what thoughtful planning and a bold vision can achieve. And trust us, the best is yet to come in this vibrant township.