Ayala Land develops waterside district in Cebu
By Keren Concepcion G. Valmonte
AYALA Land, Inc. is developing a 26-hectare sustainable waterside district in Cebu called South Coast City with SM Prime Holdings, Inc. and Cebu Holdings, Inc.
“[It is] a contemporary development with the latest urban innovations while at the same time capitalizing on seaside views and having Cebu’s beaches just a short drive away,” Senior Vice-President and Head of Ayala Land Estates Group Anna Ma. Margarita B. Dy said during a media briefing on Tuesday.
The project located within South Road Properties will have nearly two million square meters (sq.m.) of built-out area, 30% of which will be for residential spaces and 70% for commercial centers.
It will feature a 2.7-hectare commercial center called District Square.
The center will have 11 commercial lots for sale, ranging from 1,777 sq.m. to 2,601 sq.m. The block development construction of District Square, which is more than halfway through, is aimed to be completed by June next year.
South Coast City will feature a 1.1-hectare park, a convention center, and Cebu’s first arena, among others.
The estate is also designed to be pedestrian-friendly, with a 4,000-sq.m. park lane pedestrian system to connect areas of the commercial center.
“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,” Ayala Land President and Chief Executive Officer Bernard Vincent O. Dy said.
The land development construction for South Coast City is ongoing and is slated for completion by May 2022.
Ayala Land will be spending P90 billion for its developments in the estate, which it said might open up to 100,000 job opportunities for the area.
“In terms of employment, one of the biggest drivers for Cebu is actually BPOs (business process outsourcing) at least for the commercial hubs, there’s tourism but for us, it’s really the BPOs,” Ayala Land Estates Visayas Head Iris Josef-Mediano said, adding that BPO firms have remained resilient in their existing estates.
South Coast City is accessible through major highways, such as Cebu South Coastal Road and the upcoming Cebu-Cordova Link Expressway (CCLEX).
SM Seaside City Cebu Mall, Cebu South Bus Terminal, Cebu City Seaport, and Mactan Cebu International Airport are said to also be within reach from the estate. It is also near Cebu Ocean Park, UP Cebu SRP Campus, and Alta Vista Golf Course.
On Tuesday, shares of Ayala Land at the stock exchange declined by 1.50% or 55 centavos to close at P36.15 each.