Saturday, July 2, 2011

Iloilo City’s tallest bldg breaks ground

By: Tara Yap

“IF there is no Injap Sia, there is a need to invent him.”

This was how Iloilo City Mayor Jed Patrick Mabilog described the significance of Mang Inasal founder Edgar Sia II to the city during the groundbreaking ceremony of the 21-storey Injap Tower in Mandurriao district Thursday.

According to Mabilog, the soaring structure is another contribution of the 34-year-old Sia that will further boost the economic confidence of Iloilo City.

“This will serve as a new landmark that signifies the rapid growth of the city,” Mabilog said.

Mabilog foresees that the structure will address concerns of investment locators, particularly in the field of business process outsourcing (BPO), that the city does not have business infrastructures with the exception of shopping malls.

“This will surely attract investors,” Mabilog added.

The 21-storey structure of Injap Land Corporation is poised to become the city’s tallest building. It will feature 202 condo units with furniture and appliances. It will have three floors open for commercial establishments while the 21st floor is a fine-dining restaurant that offers a magnificent view of the city.

Mabilog also emphasized the P25-million donation of Sia to construct the City Community College in Molo district, which will give underprivileged Ilonggos a chance to obtain a college education. It is set to be turned over to the city government by November of this year.

Mabilog said that Sia should serve as an inspiration to the younger generation of Ilonggos, especially entrepreneurs who can contribute in the socio-economic growth of the city.

While a native of Roxas City, “Injap”, as he is fondly called, started his famed chicken barbecue chain business in Iloilo City in 2003. Last October 2010, fast food giant Jollibee purchased 70% of Mang Inasal for $68 million.

Sia was recently named by the prestigious Forbes Magazine as the youngest Filipino billionaire in the list of the Philippines’ 40 richest people. Sia has a net worth of $85 million.

Source: The Newstoday


Post a Comment