Real estate giant based in the Philippines, Ayala Land Inc. will spend close to P90 billion for its third business district in Cebu that will be located at the South Road Properties (SRP) in Cebu City, which is being carried out in partnership with SM Prime Holdings and Cebu Holdings.
In a media briefing on Tuesday, June 29, 2021, Anna Ma. Margarita Dy, senior vice president and head of Ayala Land Estates Group, said the continued investment in Cebu reflects the group’s confidence to “move ahead” after more than a year of expansion pause due to the Covid-19 pandemic and to reiterate its commitment to “stay in Cebu for the long haul.”
Dubbed the South Coast City, this 26-hectare waterside development is poised to be the new home of prime entertainment and commercial concepts in Cebu.
“With the South Coast City, we once again have an opportunity to make a mark and contribute to regional and national progress,” Dy said.
Of the 26 hectares, 70 percent will be dedicated to commercial use while the rest will be allocated for residential projects. Ayala Land said the estate is only 2 kilometers away from the Cebu South Bus Terminal, 4 kms from the Cebu City Seaport and 11 kms from the Mactan Cebu International Airport.
The developers said they would integrate contemporary design and sustainability in the estate which would feature pedestrian and bike lanes as well as wide-open spaces.
Meanwhile, land development of South Coast City is underway and scheduled for completion in May 2022.