Posted on September 08, 2014 10:50:00
PM [ BusinessWorld Online ]
CEBU CITY -- Filinvest Land, Inc.
(FLI) is considering more residential projects in Metro Cebu as it completes
its 50-hectare mixed-use development here.
Allan G. Alfon, FLI vice-president for
strategic planning in the Visayas and Mindanao, said the company has acquired a
30-hectare property on Mactan Island. Filinvest is also negotiating to acquire
eight hectares to 10 hectares in the southern part of Metro Cebu. Both are
being planned for development into horizontal residential projects aimed at the
middle-income market.
“We still firmly believe that demand
for residential projects is still quite huge in Cebu. We also want to expand
our MRBs (medium-rise buildings). We’re looking for sites now,” Mr. Alfon told
BusinessWorld on the sidelines of the topping-off ceremony for the first two
buildings of Il Corso, a P3-billion lifestyle retail component of the
50.4-hectare City di Mare at the reclaimed South Road Properties.
Mr. Alfon said the Mactan project is
in the planning stage while a market study is being undertaken for the planned
project in southern Cebu to confirm the viability of the product offering.
Jovita R. Polloso, senior
vice-president for commercial centers and retail management, said the company
has set a target to complete the Il Corso mall’s Central Piazza this November
in anticipation of major tourism events in 2015.
The Central Piazza will feature the
first two three-level buildings of the planned 11 structures that will make up
the mall, an amphitheater with 1,000 seats and the grand entrance to the 10-hectare
lifestyle strip by the sea.
To mark the topping-off ceremony
yesterday, Ms. Polloso signed agreements with two Cebu-based restaurant
operators who will put up the first dining outlets in the mall. The Urbina
family behind the Cafe Laguna brand plans to open a seafood and grill
restaurant, its seventh outlet in Cebu, while Marco and Kate Anzani plan to
open a Gusto outlet.
“Our intent is to bring in concepts
that will capture the discerning Cebuano market and pull in the tourists that
abound in Cebu and the region. Working with local food artisans and homegrown
concepts, we aim to provide an experience of the Cebuano warmth and hospitality
while at the same time showcasing a global touch,” Ms. Polloso said.
Il Corso will offer a gross floor area
of 55,471 square meters and is targeted to soft-open in late 2015, with a link
to the 40-hectare residential and office components of City di Mare.
The Cebu mall is among the projects
being undertaken by FLI to catch up on retail and commercial development after
15 years of focusing only on Festival Supermall in Alabang.
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