GRAND Land Inc., the property arm of the Gaisano Grand Group, bared plans to expand its portfolio to resort and hotel development in Cebu.
Kicking off the expansion is the 30-storey Grand Tower, a hotel and office project, across SM City Cebu’s North Wing in the North Reclamation Area.
The hotel, according to its president Ryan Bernard Go, will be managed by Dusit International. It will have 295 rooms carrying the four-star brand Dusit Princess. The company will invest P2 billion for the project.
“We want to expand on tourism (projects). We hope to develop hotels and resorts in the north or south of Cebu,” Go told reporters yesterday at the sidelines of the opening of the Grand Tower showroom in SM City Cebu.
The project is not the group’s first venture into hotel developments. The company owns a hotel in Davao and Bacolod under the Grand Regal Hotel brand.
Office spaces
Next month, Go said Grand Land will formally sign its partnership with Dusit International. He said the partnership may extend to more Grand Land hotel projects.
Hotel rooms in Dusit Princess Cebu will be sold as condominium units. Meanwhile, office spaces will be available for purchase.
Tourism, for Go, is one of the most vibrant sectors today, especially in Cebu. In previous interviews with the official, he said the company sees huge potential in the expansion of the Mactan-Cebu International Airport.
In the third quarter of this year, the company will break ground on the Grand Towers. Hotel operations will commence in the middle of 2019. Upon operation, Dusit Princess Cebu is expected to generate at least 300 jobs.
Other projects
Currently, Go said that the company’s land bank remains substantial in Cebu, allowing Grand Land to inject more projects in the province. The official, however, did not specify the location of these undeveloped properties.
At present, Grand Land has five existing projects: flagship project Grand Residences in Banilad in Cebu City, Amani Grand Mactan in Lapu-Lapu City, City Homes in Mactan, Mandaue, and Minglanilla, and City Homes Premier in Mandaue, which equates to a multi-billion peso investment within Metro Cebu alone and accounting for roughly 4,300 houses and condominium units combined upon completion.
Aside from the mall, the company has also expanded its presence in Davao with condominium project Amani Davao in Buhangin, Davao City.
It will soon launch a socialized housing project in Lapu-Lapu City, adopting a walk-up condominium format priced at P400,000.