PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

ALI redevelops P10-billion Cebu business district

Published on 13 July 2012 [ ]
Written by Madelaine Miraflor

Real estate giant Ayala Land Inc. and Cebu Holdings Inc. is redeveloping a P10-billion project in Cebu called Cebu Park District (CPD), which is going to be Cebu’s central business district.

Cebu IT Park and Cebu Business Park are now being combined to form CPD.

“Given that both commercial squares are geographically aligned and strategically located at the heart of the city, addressing them as a single destination will solidify and strengthen their potential as business centers,” said Antonino Aquino, president of ALI.

He added that, “Mirroring the synergy of both parks will practically provide a larger environment for business process outsourcing [BPOs] and even for other businesses that will spur growth in the region.”

ALI cited a report in December 2011 that says that the BPO industry is poised to grow dramatically in the coming years, clearly giving a positive impact to Cebu’s economic trajectory.

Recently, ALI launched its P65-billion investment for a central business district that will rise in Quezon City, the largest city in Metro Manila. ALI has partnered with the National Housing Authority in this project.

In June, ALI commenced its P30-billion investment in Bonifacio High Street in Global City, which includes the new Shangri-La Hotel, new Philippine Stock Exchange building and a high-rise residential development called “The Suites.”

CPD residential
ALI will also develop a residential area in CPD since it sees the area as accessible and convenient.

“Only Ayala Land Premier managed to integrate its residential tower in Cebu while Alveo Land’s Solinea complements Cebu’s resort vibe by having stylish living spaces and well-appointed amenities,” said Aquino.

“Avida, on the other hand, furthers the living options through a multi-tower residential complex that are in close proximity to the business and lifestyle centers in the district,” he added.

According to ALI, the rise of these residential areas will bring more urbanity to the area, given that Cebu itself has vigorous living possibilities.

“For this reason, CPD is also bringing open and lush breathing spaces to provide places to relax and to highlight the development’s family friendly impressions amid the usually busy settling of a cityscape,” ALI added.

real estate central philippines
Copyright ©2008-2018