aviation industry liberalized and air travel increased in the country, and problems at Mandurriao Airport began to emerge, prompting the national government as well as the city and provincial government's agreement to a proposal to build the current Iloilo Airport outside of the city. Development period In 2007, the new airport in Cabatuan, Iloilo opened, leaving the old airport in Mandurriao open for privatization of the property. Megaworld Corporation acquired the 72-hectare site of the old airport for ₱1.2 billion (roughly $2.5 million) to be developed to become Iloilo City's new central business district (CBD), named Iloilo Business Park. In 2015, the APEC Finance meetings were hosted in the Iloilo Convention Center, which occupies the former site of the airport's passenger terminal (demolished between 2012 and 2013). Aside from Megaworld Corporation, Ayala Corporation, SM Development Corporation, and Gaisano Group of Companies have also invested in the nearby area within Mandurriao. Economy Mandurriao is the center of trade, commerce, finance, real estate, and business process outsourcing in the city, along with Iloilo City Proper. It is the fastest developing district in Iloilo City. Among the four largest mixed-use development townships in the district are Megaworld Corporation's Iloilo Business Park; Ayala Land's Atria Park District; SM Prime Holdings' SM Iloilo Complex; and Gaisano Group of Companies' Iloilo City Center. South of the Atria Park District is the Smallville Business Complex, Iloilo's nightlife capital and a popular dining and entertainment hub. These townships are adjacent to each other, resulting in the formation of a single large CBD in one area being named Iloilo Midtown CBD (New Iloilo Business Center or Iloilo Business Triangle). Mandurriao also has the highest concentration of high-rise buildings in Iloilo City. Besides the high structures, it has a remarkable aesthetic and a reputation as the central amusement hub of the metro. Trade and commerce continue to soar in the district. Business Process Outsourcing (BPO) companies, upscale hotels, residential towers, large malls, parks, and offices are sprouting everywhere within the district. Education Mandurriao has several academic institutions. The most notable ones are namely, Ateneo de Iloilo–Santa Maria Catholic School, Iloilo Scholastic Academy, Santa Isabel College of Iloilo City, St. Joseph School, and Mandurriao National High School, among others. Transportation Mandurriao is mostly served by jeepneys and white-metered taxis. Tricycles and trisikads are also being used as transportation within the district for shorter distances. The Aleosan Transport Terminal (Hibao-an Terminal) in