New projects expected in Cebu Business Park, IT Park
CEBU Holdings Inc. of the Ayala group expects more developments in their twin properties—Cebu Business Park and Asiatown IT Park—within the next two years.
“Current buildup at Cebu Business Park has accelerated in the past few months,” said CHI president Francis O. Monera.
Six projects are ongoing with two more for bank and office spaces set to start within the year.
Upon completion, these six projects will bring in a total of over 118,000 square meters of gross floor area in the park for office, residential and commercial purposes.
The six ongoing projects in the area includes Ayala Center Cebu phase 2B expansion, 1016 Residences of Ayala Land Premier, Sedona Parc of Alveo, Calyx Residences of Innoland Development Corp., Avalon of Primary Homes Inc., and another mixed-use office and residential building at Cebu Business Park.
Ayala Center Cebu, the commercial and lifestyle strip of the Cebu Business Park, is undergoing a major expansion project which will add over 36,000 square meters of leasable space.
The expansion is set to be completed in 2013. It will introduce “cosmopolitan shopping in Cebu” and strengthen Ayala’s position as the premier leisure and lifestyle destination in Cebu, for shopping, dining and entertainment, Monera said.
An average of 107,200 people visit the mall on weekends, based on company data.
Monera said they expect the number to increase dramatically with the opening of the new wing in 2013. This will host high end international brands.
Construction is ongoing in the 24-story 1016 Residences, which will have 109 units of country club living set for completion in 2014. The 21-story Sedona Parc will offer 114 units of designer park living.
Cebu Business Park and Asiatown IT Park are both declared business and IT economic zones by the Philippine Economic Zone Authority.
Monera said they expect Cebu Business Park to become another location for outsourcing companies .
“We expect the same vibrancy in Cebu Business Park and we feel that we must continue to invest in these two properties. We are taking advantage of these two banner districts where we expect the growth of Cebu will be concentrated,” Monera said. Reporter Aileen Garcia-Yap