New growth areas bared in Iloilo
This country's southern city is hosting several potential economic growth areas for investment and development as the city braces to become the next investment capital of the Visayas.
City Mayor Jerry P. Treñas reported the recently opened areas within the city jurisdiction due to opening up of new roads and new communities, riverbed reclamation and the multi-billion peso investment brought by Megaworld Corp.
Treñas said that Megaworld bought the 54 hectares old airport area for P1.2 billion and would soon invest another P1.5 billion in putting up various infrastructures here.
The new airport operation was transferred to Cabatuan town, some 35 kilometers away from the city, thus setting the pace for development in this city.
Another new growth area was pinpointed along the new diversion and San Rafael Tabucan road and investors are currently making inquiries on possible expansion on this new area.
The government is also completing the Carpenter Bridge in Mandurriao district under the mega floodcontrol project and has allowed the reclamation of riverbeds to become another potential growth area, Treñas said.
Another area ready to absorb investors is the newly opened agricultural area in Sta Rosa, Mandurriao which the city started with the construction of a new bridge and allow a new road to connect up to Mandurriao housing project that shortens the land travel by some seven kilometers.
Several growth areas in Brgy Ingore in Lapaz district are also expected to sprout once the DPWH mega floodway project is completed. (PNA)