Megaworld Corp., the biggest lessor of office spaces, will open a P2.2-billion regional mall within the 72-hectare Iloilo Business Park in April.
Megaworld said in a disclosure to the stock exchange Festive Walk Mall in Iloilo Cyity would occupy 9,000 square meters of gross floor area, anchored by its own supermarket, department and home essentials stores, toy outlet and a food hall.
Festive Walk Mall’s main mall will be connected to a mall annex that will also be linked to the 1.1-kilometer Festive Walk Parade through elevated walkways and bridges.
“We are excited to bring our lifestyle mall concept to Iloilo—our first outside of Luzon. This full-scale mall will further expand our offerings in Iloilo Business Park as it matures as a township. The mall will also be able to generate around 3,500 jobs in retail, food, transport and mall operations,” Megaworld senior vice president and head of Megaworld Lifestyle Malls Kevin Tan said.
The main mall have three levels of world-class shopping, dining, entertainment, leisure and wellness offerings, while the Festive Walk Mall Annex will house some government offices as well as medical and wellness facilities.
Over 1,000 parking slots will be made available to mall patrons and visitors.
“Our idea is to seamlessly connect the main mall, the annex, Festive Walk Parade and the multi-level parking facility so that everything will be walkable,” Tan said.
Megaworld’s first full-scale lifestyle mall in the Visayas will have three main activity and event centers: the indoor atrium, the outdoor covered event area and the outdoor open-air activity center. A children’s playground will occupy the mall’s ground level.
The 72-hectare Iloilo Business Park in Megaworld’s rising central business district in Iloilo offers two of the city’s first-class hotels, Richmonde Hotel Iloilo and the soon-to-open Marriott Courtyard, state-of-the-art BPO office towers, residential condominium towers and an expansive commercial and finance district.
Share price of Megaworld on Monday dropped 2.2 percent to P4.85.