Formerly known as “The Queen City of the South”, Iloilo City is working in progress to regain its status. Through the years, the presence of investors is notably increasing in the city due to its economic feasibility and good governance. Also, the Ilonggo market has been responding affirmatively to all the projects showered in the city.
The rise of Iloilo Business Park, developed by real estate magnate Megaworld Corporation, changed not only the landscape of the city but also the city’s facade in the investment world. The 72 ha township that housed the longest shop and dine strip in the country, world class mall, PEZA accredited BPO buildings, starred hotels and luxurious condominiums gave Iloilo a classy but modern appeal, making it more attractive to the eyes of investors.
Another economic magnet for Iloilo is its high tourist arrivals in the past years due to numerous festivals and conventions held. In fact, Iloilo has been positioned as a MICE (Meetings, Incentives, Conventions, Exhibitions) destination of the local government. The hotel industry is the primary supporter of this economic activity in the city. With a high demand for this, hotels in the city are on the rise. Currently, Iloilo City houses international hotels such as Richmonde Hotel Iloilo and Courtyard by Marriott Hotel. The property giant Megaworld Corporation recently announced that it will be launching another prestigious hotel development – Belmont Hotel Iloilo.
This 1.5B investment is forecasted to cater the growing demands of hotel industry in the city. It includes a suite made for specially abled persons– which is first in Iloilo. The soon-to-rise hotel will be of service to Iloilo this 2023.