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Wednesday, October 29, 2003
Cebu Holdings plans to launch ‘ideal’ residential project: exec
By Jessica B. Natad
AYALA Land Inc. (ALI) affiliate Cebu Holdings Inc. (CHI) has partnered with a Cebuano firm in the development of a residential project in Metro Cebu that will be launched next year.
CHI president Rene Almendras described the development as “the most ideal place to live in,” but gave no other details.
During the Cebu launching of ALI’s one-year celebration of its 15th anniversary at the Ayala Center Cebu Friday, Almendras also said ALI had been slowly broadening the market reach of its mall developments by building non-high-end malls, the first of which will be located in Fort Bonifacio.
“Ayala’s non-high-end malls will be like the Tutuban malls. Ayala’s direction is going to broad market,” he said.
CHI will “someday build” one non-high-end mall in the Visayas, he added.
As regards the South Reclamation Project (SRP), Almendras said CHI had initial discussions with the Cebu City Government for possible projects that CHI might venture into.
“We are studying the market. There are offers for us (CHI) to do something.
But we will see what we can do. Generally, ALI is looking at the tourism aspect in the country. ALI is also anticipating the change in lifestyle, which will be very different from today,” he said.
Part of the activities of ALI’s 15th year celebration will be the donation of three classrooms to a public school in Pung-ol, Sibogay, Cebu.
Almendras said CHI will start the construction of the classrooms next month. They will be finished by June.
(October 29, 2003 issue)
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