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THE Ayala Group is booking P39 billion for Cebu over the next five years, an amount needed to finance its commercial, retail, residential, and leisure expansions.

Ayala Land Inc. (ALI) Visayas-Mindanao Group vice president Aniceto “Jun” Bisnar Jr. shared the information in a press conference yesterday for its newest project Seagrove, a mixed use leisure development, in Punta Engaño in Lapu-Lapu City.

“In the next five years or so, the whole Ayala group will invest around P39 billion in Cebu alone. That’s a sign of confidence of the Ayala Group in the Cebu economy,” he said.

The amount is 179 percent higher compared to the Ayala Group’s investment in Cebu in the past five years, which totaled P14 billion.

The amount will finance the construction and developments of Seagrove, a joint venture with Taft Properties that will feature a 14-hectare mixed-use leisure development in Punta Engaño, Lapu Lapu City; the 15-hectare Gatewalk Central in Subangdaku, Mandaue City, a mixed-use development under a joint venture with Aboitiz Land Inc.; and the Central Block in Cebu IT Park that will house an integrated mall, hotel, and office tower concepts.

The capex will also finance Ayala Land’s residential projects like Alveo, Avida, and Ayala Land Premier.

“We see that Visayas and Mindanao regions, especially Cebu, will be a critical area for future growth,” said Bisnar, who also sits as president of Cebu Holdings Inc.

The Ayala Group has been in Cebu since 1988, and has developed the Cebu Business Park, Ayala Center Cebu, and the Cebu IT Park.

It has nine existing estates in the Visayas and Mindanao. To expand its presence in Southern Philippines, Bisnar said the company is open to possible joint ventures with local companies moving forward.

Sun Star Daily | November 10, 2017 | JEANDIE O. GALOLO

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LISTED-PROPERTY developer Cebu Landmasters Inc. (CLI) remains unfazed by reports of condominium sales slowdown in Cebu saying that the market is not fully saturated compared to Metro Manila.

“The glut is not felt in the middle and economic segment here,” said CLI president Jose Soberano III at the sidelines of Casa Mira Towers Labangon topping-off last Wednesday.

“I don’t believe there is a slowdown because we are still developing and not a fully matured economy yet. There is still room for growth,” Soberano added.

Earlier, consultant Enrique Soriano warned that the country’s property sector is already on its overextended run for almost three years now from the usual 10-year cycle.

He advised new players in the property sector to think twice before pouring in investments in condominium development, saying Cebu’s supply is already enough.

“There is already a slow uptick in the condo sector and it is further slowing,” said Soriano. “Condominium is no longer a good business for new players.” According to Soriano, close to 4,360 condo units are sold in Manila at any given month. Cebu is equivalent to 10 to 13 percent of Manila’s volume.

Colliers Philippines said it still expects over 17,000 units to be completed between now and 2020.

In demand

However, Casa Mira Tower’s sales performance has been “impressive.” According to Soberano, the project, which has 798 units, has been sold out, with more buyers still waiting in line in case some unit owners back out.

The Casa Mira Towers in Labangon is the first vertical project of CLI’s Casa Mira series. The two towers stand 17 storeys and 19 storeys.

“The market’s strong response towards Casa Mira Towers is due to the project offering more features and amenities but with a price that starting families and young professionals can easily afford,” said Soberano.

He added that having the right price, right unit size, location and brand have helped them survive the competition in the condominium segment, which is being flooded by a lot of players, both new and old.

Casa Mira Towers offers roof deck amenities, swimming pool, fitness gym and, lounge, 24-hour security, reception and lobby, property management services and a retail arcade at the ground floor.

Soberano said they target to deliver the units to homeowners in the third quarter of 2018.

Coming soon

Following the success of Casa Mira Towers Labangon, Soberano announced they will soon launch Casa Mira Towers Guadalupe, the fifth of the Casa Mira series, which will have about 800 units.

The Casa Mira series already has two horizontal projects—Casa Mira Linao in Minglanilla and Casa Mira South in Naga. CLI will launch Casa Mira Coast in Sibulan, Negros Oriential soon.

November 09, 2017 | KATLENE O. CACHO | Sun Star Cebu

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THE GOTIANUN family-led Filinvest Group is investing P1.5 billion to develop a lifestyle resort that targets the younger generation, a market segment that is quickly growing in the hospitality industry sphere.

Filinvest Hospitality is building Grafik Cebu, a 308-room resort on a 2.8-hectare property located in Duawon Beach Lapu-Lapu City. Construction will begin this year and is slated for completion by 2020.

Grafik Mactan is the flagship brand under Filinvest’s Grafik chain. It will be managed by Filinvest’s own hospitality management company, Chroma. Grafix is Filinvest’s third property in Cebu Province and the second in Mactan, after Crimson Resort and Spa.

“This is a testament to our belief in the strong economy of Cebu and strong tourism potential that still has to be reached,” said Francis Gotianun, assistant vice-president at Filinvest Hospitality, during Grafik’s groundbreaking ceremony over the weekend.

Gotianun said the location of Grafik Mactan in Duawon holds a special place in the family’s heart, as it was where they would go on beach vacations. “This property here has been known to us for a very long time,” said Gotianun.

About the experience

“While it doesn’t have a white beach, it has beautiful saltwater lagoons. People will love the views out to the sea and the rugged nature of the location,” he said.

Grafik Mactan will have two signature restaurants, three bars and multiple pools. It will also offer resort services that would appeal to the millennials’ preference for a customized experience.

“The resort will be for the young and young at heart who are into casual and fun accommodations,” said Gotianun.

“We feel that this segment is underserved. We wanted something that is less formal but causal and fun. We wanted to revolutionize how people enjoy resort developments,” said Gotianun.

Upon the start of operations, Grafik will provide over 400 jobs in Mactan Island.

James Montenegro, country manager at Chroma Hospitality, described Grafik as a way to revolutionize fun. “With the Grafik brand, we are challenging the hospitality industry. We are challenging the norm. We will be doing things that other hotels are not doing,” he said.

Montenegro said they are looking at offering rooms that will have no minibar and no cable TV because they want their guests to bring their own content, to go out of their rooms, and experience the atmosphere of the hotel. This has yet to be finalized, though.

“We will have our own internal radio station to bring in the music. With the Grafik brand, we want to bring in the music and brand and to help our guests experience it all together…We are also bringing in new dining concepts, such as a modern cafeteria. We are trying to give guests a different experience,” said Montenegro.

“In Grafik we say: vivid life, vivid expressions and vivid experiences,” he added.

Room rates at Grafik may play between P5,000 and P6,000. “Millennials know the value of money and they will pay for a unique experience. People say they now collect more experiences than things. We are putting in a lot of spaces for them to create those memories,” said Gotianun.

Sun Star Cebu | November 13, 2017 | Kat O. Cacho

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