Vista Land Expands Residential Project for Iloilo “Communicity”
Vista City Iloilo, a residential project that is envisioned to become a communicity, is a flagship development in Visayas by Vista Land & Lifescapes, Inc. led by Manny Villar. The residential project will have malls, hotels, office buildings for the business process outsourcing (BPO) industry and hospitals. The project is expanding its development to a total value of P40 Billion, which will cover 500 hectares spreading over Oton, Pavia and San Miguel on Panay Island.
“The integration of the residential project with commercial development will complete Vista City Iloilo’s transformation into a communicity with adequate security and convenient transportation services,” Vista Land said. The Iloilo-based residential project classified as a ”communicity” is described by Vista Land as “innovative masterplanned city development designed to be completely self-contained, with vast properties that offer facilities, amenities, community structures and commercial establishments closer to a city than a mere residential village.”
The developer has located at least 100 hectares for the City Center, for the BPO offices, shopping establishments and hotels. The City Center will also house churches, events places and amusement parks for its residents.
The development is close to establishments such as the University of the Philippines Visayas, Central Philippine University, University of San Agustin, and West Visayas University; as well as the Western Visayas Medical Center and The Medical City Iloilo.
Iloilo is attracting major players in the real estate industry, as they develop residential and commercial projects to take advantage of Philippines’ robust economy. Iloilo will be the host for this year’s conferences of the Asia Pacific Economic Cooperation.
Source:
http://www.malaya.com.ph/business-news/special-features/villar-builds-p40b-iloilo-%E2%80%98communicity%E2%80%99
