ALI to fork out P90B for seaside commercial development

Property giant Ayala Land Inc. is investing P90 billion to transform a 26-hectare property in Cebu into a lifestyle and entertainment destination in the Visayas region.

Located along Cebu South Coastal Road in South Road Properties (SRP), the waterside development to be called South Coast City will comprise a commercial center known as District Square, a 1.1 hectare park, an Arena, a convention center and other recreational facilities.

District Square covers 2.7 hectares with 11 commercial lots for sale, ranging tom 1,777 to 2,601 square meters.

The block development construction is already more than halfway through and is targeted for completion by June 2022.

The project is also in partnership with ALI subsidiary Cebu Holdings Inc. and SM Prime Holdings Inc. of the Sy family.

“With the South Coast City, we once again have an opportunity to make a mark and contribute to regional and national progress,” said Anna Ma. Margarita “Meean” B. Dy, senior vice-president and head of Ayala Land Estates Group.

A 4,000 sqm park lane pedestrian system will connect the main areas of the commercial center, pedestrian network will link the main areas of the development and will connect to a 1-hectare park, which will be one of the main attractions of the estate.

ALI said the P90 billion investment, which covers expenditures for land and project development over a 20-year period, reflects its confidence in Cebu’s booming economy.

South Coast City will also be the home of Cebu’s first-ever Arena which is envisioned to be the go-to destination for safe recreation and events.

SOURCE: Bilyonaryo

Categories: ayala land, south road properties