By
Richmond S. Mercurio (The Philippine Star) | Updated March 26, 2015 - 12:00am
MANILA,
Philippines - Property powerhouse Ayala Land Inc. (ALI) is returning to the
Cebu property market with an P8 billion investment for a new mixed-used
development.
ALI
said it recently broke ground for Central Bloc, a 2.2-hectare development at
the center of Cebu IT Park which will be composed of office, retail and hotel
components.
ALI
president and chief executive officer Bobby Dy said Central Bloc’s start of
construction is a landmark event in ALI’s history as Cebu City was the first
area outside of Metro Manila where the company started developing mixed-use
projects.
“It highlights our commitment to support Cebu
City. We envision Central Bloc to be a refreshing hub where business and
leisure converge,” Dy said.
ALI
said a mall in Central Bloc which would have approximately 43,000 square meters
of gross leasable area is set to open in the first quarter of 2018.
“Envisioned to be a refreshing and hip
hangout, Ayala Malls Central Bloc will help make Cebu IT Park the hub of
convergence for a younger and more active market segment,” the company said.
Likewise,
a 12-story Seda hotel which will have 214 rooms and will feature a roof deck
bar is slated to open by the third quarter of 2018.
“It will also be the first Seda hotel to cater
to long-staying guests with its 58 apartment suites,” ALI said.
Two
BPO office towers will also be part of the development, designed for 24/7
operations.
Upon
completion in 2019, the two BPO buildings are expected to generate about 14,000
jobs in the sector.
“With
Central Bloc, Ayala Land reinforces its commitment of developing masterplanned
estates such as Makati, Bonifacio Global City and Cebu Business Park,” ALI
said.
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