Ayala Land Set to Spend ₱90 Billion for New Cebu Project

On Tuesday, Ayala Land expressed its intentions to spend around ₱90 billion for its new development setting its eyes on Cebu. The massive real estate company is looking to partner with SM Prime Holdings and Cebu Holdings for the project.

According to Ayala Land’s latest virtual briefing, South Coast City will be a 26-hectare “waterside” development for mixed-use purposes located within the South Road Properties in Cebu City.

Senior vice president and head of Ayala Land Estates Group Meean Dy also said that the development will benefit from the Cebu-Cordova bridge once it has been completed. It promises to offer sea-side views while also being in close proximity to Cebu’s beaches.

“With the South Coast City, we once again have an opportunity to make a mark and contribute to regional and national progress,” said Dy.

“With this blank slate, we can create something Cebu has not seen before: a best of both worlds scenario. A contemporary development with the latest urban innovations with seaside views, and Cebu’s beaches just a short drive away,” she explained further.

Ayala Land plans to incorporate contemporary design and sustainability in the development highlighting pedestrian lanes, bike lanes, and wide-open spaces.

The project will also have a commercial center called District Square, a 1.1-hectare park, residential areas, a convention Center and Cebu’s first-ever arena.

District Square will be a 2.7-hectare area with 11 commercial lots for sale, which will look to tap businesses and investors. It’s expected to generate around 100,000 jobs upon completion, according to Ayala Land Estate Visayas head Iris-Josef Mediana.

“Today our focus is set on a V-shaped recovery for our business and economy. We believe that our vision of ‘enhancing land and enriching lives for more people is now relevant more than ever, as we continue to build spaces that not only raise the quality of life for many but also generate livelihood and employment for a great number of Filipinos,” said Ayala Land president and CEO Bobby Dy.

Ayala Land hopes to complete land development by May 2022.

Source: ABS CBN