Megaworld Corp. of property tycoon Andrew Tan expects almost P1.5 billion ($33 million) in sales from its 1st themed residential condominium project in Iloilo Business Park. The launch of 2nd condominium project Lafayette Park Square will allow the company to cater to robust demand in the township development in Wes
Megaworld Corp. of property tycoon Andrew Tan expects almost P1.5 billion ($33 million) in sales from its 1st themed residential condominium project in Iloilo Business Park.
The launch of 2nd condominium project Lafayette Park Square will allow the company to cater to robust demand in the township development in Western Visayas.
“Because of the overwhelming reception of the Ilonggo market to Megaworld's 1st residential condominium cluster, we want to offer something new, elegant, and sophisticated,” said Jennifer Palmares-Fong, head of marketing for residential business of the Iloilo Business Park.
Lafayette Park Square is a 14-storey single tower with 289 residential units that range from studio to 3 bedroom layouts, the biggest of which is expansive with more than 100 sqm of floor area.
“The company is projecting sales of around P1.4 billion for this project this year. The project is set to be completed in 2018,” Megaworld said.
Featuring French and Spanish architectural designs, Lafayette Park Square is Megaworld's 1st themed residential condominium in the 72-hectare Iloilo Business Park.
“We are definitely bullish about Iloilo. Aside from the local market, we have seen an increasing demand for residential condominiums in Iloilo from the international market,” Fong said, adding that around 20% of residential unit sales last year was driven by international sales.