EMBRACE YOUR DREAM LIFE AT SAINT DOMINIQUE
Build and they will come.”
Such advice could prove disastrous for startup developers. Most entrepreneurs consider themselves visionaries but rarely is the initial vision of a product marketready and poised for success. Well, not in the case Megaworld Corporation, which transformed the old airport in Mandurriao, Iloilo City into the biggest business and tourism hub in Western Visayas — the Iloilo Business Park. The once sleepy, laid-back Iloilo has awakened to the promise of a bright new future. And the locals are embracing its rebirth. “We took time to really know the market before embarking on this mega project
‘Megaworld made us feel important. The pride of the Ilonggos has been boosted because of all these developments. Now more than ever, we feel we matter.’
in 2011,” shares Jennifer Palmares-Fong, VP for sales and marketing, Iloilo Business Park. “We studied how the Ilonggos behave, what they want and how they want to live, work and play.”
And based on the overwhelming response of the locals to Megaworld’s residential projects, one can conclude that the risk paid off.
When Megaworld first launched the three-tower One Madison Place in 2013, the residential cluster was sold out in just a month, prompting the company to build two more towers, which were also sold fast in just seven months.
“Megaworld has managed to tap the style and design sensibilities of the locals with the Parisian-inspired residential projects they’ve been putting up one after the other,” says my Ilonggo blogger friend Jorry Palada as we strolled down the Festival Walk Parade, the 1.1-kilometer-long stretch envisioned to be the longest dining and retail strip in the Visayas and Mindanao.
The second condominium project, Lafayette Park Square, which was launched in 2014, was sold out in just eight months. Saint Honoree was also sold out four months after it was launched late last year.
“Ilonggos are open-minded. If we feel that change would mean a better life and a brighter future for our people, we embrace and support whoever leads the way. Megaworld made us feel important. The pride of the Ilonggos has been boosted because of all these developments. Now more than ever, we feel we matter,” says Claudette Anne Talamera-Cormary, a registered nurse and former clinical instructor and French teacher at St. Paul University Iloilo, over Tres Leches and coffee at Dulgies.
Ilonggos lead a very simple life. They’re humble, friendly and frugal. But they know what they want and they’d go for it no matter the cost.
“Megaworld didn’t underestimate our purchasing power. They knew we deserve better and they took the risk,” the amiable teacher adds. “And we couldn’t thank them enough for planting the seeds of our dreams in Iloilo City.”
There is, indeed, a strong interest in the Parisian-themed development among the locals so Megaworld decided to come up with another tower inspired by the Renaissance era — The Saint Dominique.
“It’s very timely because renaissance means rebirth. Iloilo is booming and the locals are starting to appreciate the finer things in life,” notes Palmares-Fong.
The 10-story Saint Dominique will rise beside Saint Honore, another French-inspired mid-rise condominium. And just like Saint Honore, it is envisioned to be an exclusive residential community inspired by the classic architectural designs of the shophouses, boutiques, museums and retail rows of Rue Saint-Honore, a historical street in Paris. The tower will have 152 units on eight residential floors ranging from studio (up to 35 sqm.), one-bedroom with balcony (up to 50 sqm.), two-bedroom (up to 79 sqm.), and the exclusive loft units (38.5 sqm.). Linked to Saint Honore, Saint Dominique will have shared amenities with the adjacent tower that include a landscaped atrium, fitness center, indoor spa, room day care center, children’s playground, jacuzzi, swimming pool and pool lounge and a kiddie pool. Security is a primary concern in all of Megaworld properties. So to ensure utmost security and privacy, the reception and lounge lobby will have closed-circuit TV (CCTV) cameras alongside video-phone security system in all units and a centralized security command center for 24-hour monitoring of all building facilities and amenities.
“The ground level will still be dedicated to retail shops as the tower becomes part of the stretch of Festive Walk Parade. This makes Saint Dominique as exciting and promising as Saint Honore,” says Palmares-Fong.
Just a few meters away from the Iloilo Convention Center, Marriott Courtyard Hotel and Richmond Hotel, Saint Dominique is expected to be completed in 2022. The new tower expects to generate around P1.5-billion worth of residential inventory.
“Those who purchased units at One Madison Place are happy with their investment,” notes Fong. “We started selling the units at One Madison Place for only P80,000 per square meter. Right now, the value per square-meter is already P130,000 to P140,000.
That’s almost 50-percent increase.” During its pre-selling, the studio-type unit was offered at P3 million in easy payment terms.
“Now, the P3 million unit is priced at P5 million. Even if they are still paying for the property they’ve bought, the piece of the unit has gone up already,” enthuses Palmares-Fong.
Since 2013, residential properties in Iloilo Business Park have appreciated at an average of 18.6 percent annually.
“We are so grateful with how you have received us here in Iloilo,” adds PalmaresFong during the launch of Saint Dominque recently at Richmond Hotel. “And this is the reason why we remain committed to focusing on developing new concepts and ideas for our projects.”