REAL estate giant 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.
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.
It is strategically located along the SRP and can be accessed via the new Cebu–Cordova Link Expressway which is expected to be completed by 2022.
Developed by a consortium of SM Prime Holdings, Ayala Land Inc. and Cebu Holdings Inc., this Peza-accredited business district aims to contribute to Cebu’s economic recovery efforts by further enhancing the province’s offerings and generating significant employment and investments.
Of the 26 hectares, 70 percent will be dedicated to commercial use while the rest will be allocated for residential projects.
“With this blank slate, we can create something Cebu has not seen before: a best of both worlds’ scenario. A contemporary development with the latest urban innovations with seaside views, and Cebu’s beaches just a short drive away,” Dy said.