Iloilo has been cited as a seat of commerce, trade, finance, recreation, education, and governance in Western Visayas by the Chamber of Real Estate and Builder’s Association (CREBA).
CREBA National President Noel Cariño said that, “Iloilo is at the forefront of development in Western Visayas.”
Iloilo’s rapid growth lures investments coming from Megaworld, Ayala Land Inc, Filinvest and other investors.
“With its rich cultural heritage and history, vast natural resources, competent labor force, commercial and tourist attractions, infrastructure development and of course, geographical centrality being a gateway to the islands of Panay, it has seen economic growth that eventually extended to the region as a whole,” said CREBA in a press release.
CREBA added that the city’s rapid metamorphosis to progress is evident in massive infrastructures, facilities and services.
“From the fourth busiest aviation facility in the country, that is the Iloilo International Airport to widened networks of roads, upgrade bridges, expanded seaports, bustling business parks, plush hotels, as well as high-rise condominiums and mushrooming horizontal housing projects are rising everywhere to meet current and future demands,” it said.
Timothy Moe, chief Asia Pacific regional equity strategist for global investment research at Goldman Sachs, said during the Philippine Investment Conference, “with better infrastructure, the Philippines can unlock its full potential, allowing corporates to grow by an average rate of 15 percent or higher.”
“If there is potential for appropriate investment in infrastructure, there is significant productivity gains we can derive from that,” said Moe. IMT