P2.5-billion establishment to rise in Cagayan de Oro

MANILA -- Mindanao’s gateway city Cagayan de Oro will soon be home to a boutique hotel and posh shopping mall as AyalaLand Hotels and Resorts Corp. (AHRC) has jumpstarted the projects recently.

Set to be operational by 2012, the 150-room hotel is part of the 3.7-hectare mixed-use development area called Centrio.

The project is made feasible in partnership with the Floirendo-led Anflo Management and Investment Corp. (Anflocor), which has a stake in fruit export, real estate, hospitality and financing, among others.

AHRC said the shopping mall aims to address basic needs of the residents, as well as offering a fresh retail and entertainment concept for those who frequent the bustling city.

Initial investment is estimated at P2.5 billion for the mixed use land, which is expected to generate 10,000 jobs for Mindanao’s premiere economy.

“The hotel has been designed to offer a stylish and warm hotel experience. At the same time, it will provide easy and convenient access to restaurants, shops, cinemas and other retail outlets,” Ayala Land Inc. (ALI) vice president Al Legaspi said of the eight-storey boutique hotel.

Some of the amenities also include function and meeting rooms, an executive lounge, a business center, indoor and al fresco restaurant, a fitness gym and swimming pool. (Virgil Lopez/Sunnex)

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