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Megaworld said the Gaisano-led Metro Retail Stores Group, Inc., the retail arm of the Vicsal Group of Companies, has acquired around 9,000 square meters of commercial property inside the Iloilo Business Park.

“We welcome companies like the Metro Retail Stores Group Inc. to the Iloilo Business Park. As one of the largest retail chains in the Visayas, they will be able to provide a wide variety of retail offerings to the growing population of the township,” said Kevin Tan, first vice president and head of commercial at Megaworld.

 The 72-hectare business park in Mandurriao is envisioned to be the center of business, tourism and lifestyle in Region 6. The township is located along Megaworld Boulevard, between Richmonde Hotel Iloilo and the Festive Walk Mall.

“As a retail industry leader, Metro’s linkage with property developers is crucial to our success, and this partnership will be mutually beneficial as both Megaworld and Metro move towards aggressive expansion,” said Frank Gaisano, chairman and chief executive of Metro Retail.

Aside from the Metro retail outlets, the township will also house two business hotels, a convention center, residential condominiums, business process outsourcing (BPO) office towers, and a retail strip.

Megaworld has allocated nine hectares of the entire township for the commercial district.