There will always be times in our lives when we’ll wish we had the power to look into the future and know what’s going to happen. If you live in a city, do you recall being a kid and seeing how quickly your neighborhood changed every year? Did you wish you had invested years ago? So, how does this relate to Iloilo?
Iloilo City- The Heart of the Philippines
In the Philippines, Iloilo is frequently referred to as the “Heart of the Philippines.” This would be certainly true in regard to its wide and diverse range of tourism destinations and attractions. The province of Iloilo is home to a wide variety of mouthwatering dishes, ancient antique structures, fascinating cultural practices, relaxed and friendly lifestyle, breathtaking natural scenery, and a number of interesting events that are held all around the province. It is common for inspiring visitors who come to visit to learn that Iloilo offers all the top reasons why tourists highly recommend the Philippines, and that these reasons may be fulfilled in Iloilo.
The city of Iloilo is a major destination for tourists because it is home to some of the province’s most popular attractions, including dining establishments, museum, hotel, local shops, and entertainment areas. It is most well-known for the yearly Dinagyang Festival, which takes place there, as well as for its gorgeous cultural sites, delightfully fresh and local seafoods, and trademark Ilonggo delicacies. The region is also home to a significant number of Spanish colonial chapels and churches, big antique mansions, and old business and residential structures that date back to its glory as the “Queen City of the South.”
Traveling outside of the city is the best way to discover the welcoming countrysides and undiscovered treasures that Iloilo has to offer. The province of Iloilo is home to a large number of cultural and natural resources that are well interesting to explore. Iloilo is a popular stopover for travelers on their way to the beaches of Boracay and the neighboring provinces. Aside from the city’s own set of tourist destinations, Iloilo acts as an entry point to the Western Visayas province and is also a popular destination.
Why invest in Iloilo City?
The city of Iloilo serves as the provincial capital of Iloilo in the Philippines. It acts as a port of entry to Panay Island due to its advantageous position at the very center of the Philippine archipelago. It is a heavily urbanized town that serves as the region’s center for business, trading, financial, educational, and democracy. With Iloilo’s investment opportunities, all potential investors should come to Iloilo City. Because of its consistent economic growth and much improved climate for business and investment, the city has emerged as the South’s premier location for commercial and financial transactions.
Iloilo City has an abundance of resources, skilled workers, cultural and historical attractions, and a strategic location, all of which combine to make the city the go-to location for conferences, incentive trips, seminars, and events, as well as for Iloilo investment opportunities. The environment for investment is quite helpful in terms of opportunities for businesses. Investors from all over the world have expressed their trust and confidence in Iloilo City as a result of its improved economic landscape. Iloilo City offers a wide range of opportunities and suitable places in which to make investments that are certain to yield profitable returns. Iloilo investment opportunities cover a wide range of industries, such as information technology, residential and property investment, educational, tourism, infrastructures, packaging materials, beach resorts, and more. Iloilo City’s perspective is currently establishing itself as a new economic regional hub investment in the Philippines, and this development is happening very quickly.
10 Reasons Why You Should Invest in Iloilo City
The uniqueness of Iloilo City lies in the fact that one can still make investments in both commercial and residential projects, making it a prime location for such ventures.
Here are the top 10 reasons why you should invest in Iloilo City:
- Location-Wise, The location of Iloilo City is Highly Strategic.
Iloilo serves as an entry point to the Visayas, more specifically to the significant provinces and cities that are located in close proximity to it, such as Aklan, Kalibo, Bacolod City, Antique, Guimaras and Roxas. Iloilo is strategically located and an excellent spot for business investors who are looking to expand their operations beyond the metropolitan area of Metro Manila. Iloilo City has one of the most competitive economy in the country as a result of its prime location, accessibility, and infrastructure developments. The economic, cultural, educational, and industrial capital of Western Visayas, Iloilo City serves as a hotspot for business opportunities travelers and medical healthcare tourists. Several thriving businesses, including business process outsourcing also known as (BPO), finance, banking and retail, are based in this politically independent and sovereign local government. One famous restaurant based in this area is the iconic Mang Inasal.
- Iloilo Province is Known for its Abundance of Agricultural and Marine Resources.
Because of the numerous fisheries in the Visayan Ocean Sea, the northern areas of Iloilo have a thriving fishing sector that contributes significantly to the local economy. In addition, the agricultural industrial center areas of Iloilo are responsible for the production of a diverse range of agricultural goods, including rice, corm sugar, pineapples, bananas, and a variety of other fruits and vegetables, and also high-end crops. Given that its waters are rich in nutrients and act as a breeding ground for some of the world’s finest fish and other forms of marine life, Iloilo is a clean and safe environment that is a rich source of marine products.
- Iloilo is Western Visayas’ Center of Education
Iloilo is the educational and instructional center of Western Visayas. It is also the location of some of the most prestigious educational institutions in the Philippines, including schools and college universities. Among the prestigious major schools are found in Iloilo like University of the Philippines (VISAYAS), Central Philippine University (CPU), University of Iloilo, Iloilo science & technology university and The University of the Philippines High School in Iloilo is also located on the same campus as the University of the Philippines Visayas. With 19 colleges spread all throughout city and approximately 17 state college and university campuses distributed throughout the provinces, provide a diverse range of academic specializations and the information and skills necessary to support local employment and promote economic progress.
- Iloilo’s Reasonably Priced Business Expenses
Because it is so simple to manage a business in Iloilo, the city is becoming an increasingly popular location for commercial enterprises. The process of getting a permit for a business now takes as little as 30 minutes, which is significantly less time than it took a decade ago, when there were 27 procedures to finish before a permit could be obtained. As for the business, electricity is a must. Luckily the PEDC or Panay Energy Development Corporation runs a coal-fired power plant with a capacity of 164 megawatts right in the middle of Iloilo City. In 2015, it underwent expansion by adding a producing facility with an extra 150 MW, and in June of 2016, it went into operation.
The construction of power installations on Panay Island has resulted in a more stable supply of electricity throughout the entire regional hub, which in turn has led to lower prices for electricity. Iloilo City has begun the process of achieving improvement in terms of the effectiveness of the city’s power distribution.
- In Iloilo, The Cost of Living is Much Cheaper
Living expenses in Iloilo are roughly 37 pecent less expensive than in Manila. Apartment rent in Iloilo is also between 50 to 70 percent less expensive. There are up to two or three times more affordable housing invest options than in Manila. Iloilo offers a 13 to 24 percent price reduction on food in supermarket and dining establishments.
- The Culture and Lifestyle Advantage in Iloilo
The roadway infrastructures in Iloilo City provide a high quality and are rather spacious. Its controllable traffic congestion provides a much lesser hassle as well as less stress on everyday commutes from home to their work places or other places and destinations. Because it is a thriving centre of the local economy, it has a lot of people living and working in the city. The well-lit and recently extended Iloilo River Esplanade is one of the cleanest and most stunning places for enjoying a quiet evening stroll, It is a clean and safe environment that is perfect for jogging or running, and for other similar activities. Because of its many activities and programs that are designed to make biking more accessible, Iloilo City has been given the title as “Biking Capital of the Philippines.” It features one of the longest integrated bike lanes and cycle road system in the region, which contributes to the effort to reduce carbon dioxide emissions and promotes a green, more sustainable, relaxed and friendly lifestyle . As a result of the variety of first-rate medical facilities in the area, which are run by both the public and private government agencies, the province and city of Iloilo have emerged as a focus for medical in the Philippines.
Iloilo City is home to some of the most historically significant artifacts in the Philippines, such as the countless mansion and historical landmarks that can be found throughout the city’s major streets. It is known as the “City of Mansions” due to the fact that it is the location of more than 240 famous traditional house and mansion. The designs and architecture of these houses are primarily influenced by Spanish and American Colonial styles. Many of these mansions are currently used as museums or shrines, and they display the relics and things of wealthy families who formerly resided in the locality. The community of artists and cultural enthusiasts in Iloilo is flourishing, as seen by the city’s many museums of antiquities, public art venues, and diverse creative groups. It serves as the location of the Museum of Philippine Economic History.
- Dynamic and Youthful Workforce
Iloilo is home to a huge population of dynamic and youthful workforce who have a high level of education, a wealth of experience, and a strong work ethic. The city of Iloilo has human resources that are young, capable, and trustworthy. The workforce is fluent in English, has a high capacity for learning new skills, and is deeply embedded in a culture that is global oriented.
Because of the high caliber of its workforce, Iloilo enjoys the lowest overall cost of labor when measured against other areas around the country.
- Iloilo has a Strong Economy
The local economy of Iloilo is thriving, and the city’s middle class enjoys one of the highest earnings among the middle classes of the country’s main cities. The amount of money that people working in fields such as nursing, shipping, and information technology send back to their home countries is increasing on an annual basis.
- Enhanced Municipal Facilities and Infrastructures
Businesses are able to expand their customer bases all the way to more remote locations as a result of improvements made to key major roads, such as the widening and redeveloping of roads.
Because the Iloilo International Airport and ship ports operate in accordance with the standards that are generally recognized around the world, they are able to draw a large number of tourists, who in turn contribute significant sums of money and investment to the economy of the region.
- Iloilo City’s Perspective as One
And lastly, Despite the difficulties and achievements Ilonggos have faced over the years, one thing hasn’t changed: their determination to improve their city and continually make it stronger than it has ever been. Ilonggos, which included farmers, office local government employees, and local officials, are driven to achieve greater social and economic success.
This is the chance that everyone has been looking forward to. With so many Iloilo investment oppotunities, truly Iloilo is a worthy place to invest! If you are interested in investing in a condominium property in Iloilo, Asterra is an excellent choice for you! Asterra ILOILO is a soon-to-rise project that offers affordable and modern looking condominium investment that is perfect for families and young professionals!
Written by : Keanu Sasis