Written by: Amy R. Remo
It’s an emerging economic powerhouse that holds much potential.
Over the past decade, the province of Iloilo has found itself on the radar of local and foreign companies, rapidly gaining traction as a viable, highly attractive investment destination owing to its much improved business landscape, infrastructure and available skilled workforce. It has attracted thriving industries like IT and business process outsourcing; real estate; meetings, incentive travel, conventions and exhibitions (MICE); and tourism, among others.
‘Center for excellence’
Its capital city is equally dynamic as Iloilo City has long been identified by the Department of Science and Technology and the IT and Business Process Association of the Philippines as one of the two “centers for excellence” given the continued growth of its outsourcing industry.
In fact, even in the midst of the pandemic, many outsourcing companies have occupied and continued to look for office spaces in Iloilo to minimize disruptions in business operations caused by COVID-19, said Colliers Philippines.
Colliers likewise observed a sustained take up of horizontal units in key areas including Iloilo, where demand is likely to be “supported by the completion of key public projects such as toll roads which should improve connectivity and potential for capital appreciation.”
“Iloilo is one of the most competitive cities in the Philippines. It is the academic hub of Western Visayas and has a skilled manpower. The presence of integrated communities also contributes to its viability as a key business hub. Hence, it is no longer surprising to see major BPO firms locating in the city. National developers are seizing the opportunities by expanding their office, residential, retail and leisure footprint,” Joey Roi Bondoc, associate director of Colliers Philippines, told the Inquirer.
Build, Build, Build
The continuing roll out of big ticket infrastructure projects in Western Visayas—which included port rehabilitation, bypass road construction, road and bridge expansion, flood control, and airport projects—is expected to further boost Iloilo’s competitiveness as a destination. These projects will help decongest major thoroughfares leading to and out of the city center, as well as boost trade and tourism in the province.
For example, the expansion projects in the Port of Estancia and the Iloilo Commercial Port Complex, which were completed last year, would boost regional inter-connectivity. The ongoing construction of a 2.14-kilometer by-pass road in Iloilo City will not only connect several towns but will help decongest the Metro Iloilo Radial Road-4, one of the alternate routes from the city center to the northern part of the province.
It further helps that Iloilo is part of Region VI which, prior to the pandemic, was reported by the National Economic and Development Authority (Neda) as the fastest growing region in the Visayas, having posted a 6.4 percent regional gross domestic product in 2019.
Given the province’s continued growth and massive potential, Iloilo continues to beckon to investors and those wanting to relocate here—an increasingly progressive province that still offers the benefits of a peaceful countryside home.
Offering the most ideal complement to this progressive province is Avida Land, which has brought to Iloilo its brand of quality residences.
You can go for condominium units in Avida Towers Atria, strategically located in the 32-hectare Atria Park District, a masterplanned, fully-integrated business, residential and lifestyle district in the heart of Iloilo City. Those looking for a built-up, thriving address should check out units here, with cuts ranging from studio (23 sqm) to a two-bedroom unit (52 sqm).
Live in Avida Towers Atria and you’ll be afforded proximity to all modern conveniences, offices and commercial spaces as you have within a single estate an IT park that is home to multinational companies, Qualimed, Ateneo de Iloilo campus, Seda Atria Park and The Shops at Atria. Essentially, an address here gives you access to that much sought Ayala Land lifestyle.
You can also opt for the suburban life at Avida Village Iloilo in the municipality of Pavia. Sizes of residential lots here range from 128 sqm to 236 sqm. Or you can choose from Avida’s move-in ready homes located within a safe, secure community, enabling you to live, work, study and play right in the safety and comfort of your sanctuary.
While you’ll find yourself in the quieter side of the province, Avida Village Iloilo remains near the city center and modern conveniences—thanks to the new roads and bridges being built under the Build, Build, Build initiative. These include the P480-million Ungka Flyover, which will help cut travel time from Pavia to Iloilo City.
Such a valuable offering will allow you to gain from your Avida Land investment in Iloilo. Whether you choose to live in your choice property and sell it for a premium later on, or lease it out, you are assured of capital appreciation and a hassle-free buying experience.
Prices of lots in Avida Village Iloilo have grown by more than 200 percent to P16,800 per sqm today from only P5,000 per sqm in 2010, while prices of units in Avida Towers Atria have increased by more than 100 percent to P167,000 per sqm from the time it was launched in 2013.
Investors can still tap this exceptional opportunity to own this much coveted address in Iloilo as there remains limited inventory for move-in ready units at Avida Towers Atria. You can readily lease out it independently or through Avida Leasing services.
Avida Land no doubt remains on top of its game, presenting valuable offerings well worth your time and resources, and a sensible lifestyle that has become essential in this new normal.
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