Cebu gets $1.8-billion waterside development for business, living, leisure
Philippine property developer Ayala Land in a consortium with its peers SM Prime Holdings and Cebu Holdings is developing a waterside district in Cebu City called South Coast City, the company announced on June 29.
The district will be a sustainable property development on 26 hectares and require an investment of about 90 billion pesos ($1.83 billion), Ayala Land said, adding that it might bring around 100,000 direct and indirect job opportunities for the region.
The project will implement “prime entertainment and commercial concepts” which include nearly two million square meters of built-out area, 30 per cent of which will be for residential spaces and 70 per cent for commercial purposes.
Commercial center, city park, arena: All for Cebu
There will also be a 2.7-hectare commercial center called District Square, a 1.1-hectare park, a convention center, as well as Cebu’s first arena with a capacity for 16,000 people, among others.
The estate is also designed to be pedestrian-friendly, with a 4,000-square meter park lane pedestrian system to connect areas of the commercial center.
BPO companies, tourists targeted
Land development of South Coast City is ongoing and is targeted to be completed in May 2022, while the development of the District Square is anticipated to be finished by June 2022. The new city will be accessible through major highways including Cebu South Coastal Road and the upcoming Cebu-Cordova Link Expressway.
Ayala Land said that in terms of commercial activity, it is primarily targeting business process outsourcing (BPO) companies to set up their offices in South Coast City. Domestic and foreign conference and leisure tourism would also be a core driver of business in the new development.
Rendering of South Coast City in Cebu City Philippine property developer Ayala Land in a consortium with its peers SM Prime Holdings and Cebu Holdings is developing a waterside district in Cebu City called South Coast City, the company announced on June 29. The district will be a sustainable property development on 26 hectares and require an investment of about 90 billion pesos ($1.83 billion), Ayala Land said, adding that it might bring around 100,000 direct and indirect job opportunities for the region. The project will implement “prime entertainment and commercial concepts” which include nearly two million square meters of...
Philippine property developer Ayala Land in a consortium with its peers SM Prime Holdings and Cebu Holdings is developing a waterside district in Cebu City called South Coast City, the company announced on June 29.
The district will be a sustainable property development on 26 hectares and require an investment of about 90 billion pesos ($1.83 billion), Ayala Land said, adding that it might bring around 100,000 direct and indirect job opportunities for the region.
The project will implement “prime entertainment and commercial concepts” which include nearly two million square meters of built-out area, 30 per cent of which will be for residential spaces and 70 per cent for commercial purposes.
Commercial center, city park, arena: All for Cebu
There will also be a 2.7-hectare commercial center called District Square, a 1.1-hectare park, a convention center, as well as Cebu’s first arena with a capacity for 16,000 people, among others.
The estate is also designed to be pedestrian-friendly, with a 4,000-square meter park lane pedestrian system to connect areas of the commercial center.
BPO companies, tourists targeted
Land development of South Coast City is ongoing and is targeted to be completed in May 2022, while the development of the District Square is anticipated to be finished by June 2022. The new city will be accessible through major highways including Cebu South Coastal Road and the upcoming Cebu-Cordova Link Expressway.
Ayala Land said that in terms of commercial activity, it is primarily targeting business process outsourcing (BPO) companies to set up their offices in South Coast City. Domestic and foreign conference and leisure tourism would also be a core driver of business in the new development.
