PLAZUELA DE ILOILO
Brief Project Description:
The proponent invites interested parties to locate in Plazuela de Iloilo I and II.
Proponent: Florete Land, Inc.
Proposed Site: Plazuela de Iloilo, Sen. Benigno S. Aquino Jr. Ave., Mandurriao, Iloilo City
Scale and Content:
Plazuela de Iloilo is a 12,533 square-meter mixed-used development project located along theBenigno S. Aquino Jr. Avenue and adjacent to SM City Iloilo. It has three main buildings, an administration office, and a concert stage along CalleFlorete. The architectural character of Plazuela de Iloilo is inspired by Spanish-Italian design. Upon entering the rotunda, there are 36 leasable areas for retails stores, coffee shops, and restaurants, totaling 8,700 square meters of gross floor area. There are promenades between buildings for better pedestrian movement and ventilation. The second floor is ideal for business processing offices. Plazuela has ample parking space that can accommodate over 100 cars. Plazuelais flood-free as the entire development is elevated by almost two meters from street level.
Plazuela II is an 8,891 square-meter expansion project that is linked to Plazuela I via an interconnecting footbridge. It is expected to expand the commercial potential of Plazuela I.Plazuela II will have commercial and retail areas. It will have supermarket to meet the needs of shoppers. It will also have an al fresco dining area for BPO employees looking for an alternative dining experience during and after mall hours. CalleFlorete promenade will be extended to the activity area within the heart of Plazuela de Iloilo II, captivating the festive mood of Iloilo.
Preferred modality: Open Investment
Iloilo City is one of the most accessible and highly-urbanized cities in the Philippines. Iloilo City has become a hub for trade, commerce, and industry, and is considered as the regional center of Western Visayas.
The Department of Science and Technology (DOST) – Information and Communication Technology Office (ICTO) and the Business Processing Association of the Philippines has named Iloilo City as one of the ‘next wave’ cities, reaffirming Iloilo’s capability in hosting IT- related businesses. Locators are attracted to the city because of its high literacy rate and high number of graduates per year. IT-related industries have also spurred employment rates in the city and push the economic growth to unprecedented rates.
Plazuela de Iloilo will respond to higher demand for goods and service due to employment generated by new businesses. Plazuela II will have the same architectural character as Plazuela I, thereby creating coherence with the unique identity that Plazuela I has established.
There are telecommunication companies that can provide fiber optic, copper and microwave lines. Iloilo City has a third coal-fired power generation facility, with a 150-megawatt capacity,
to add to the existing 164 megawatts produced by the Panay Energy Development Corporation (PEDC). The project also has access to ample water supply.