Cebu is considered as the next preferred choice in affordable living, comfortable retirement, business expansions, hospitality, leisure and tourism. Reaching almost 6 million in population, it is the 2nd highly urbanized 1st income city next to Metro Manila. With its growing demand and the vision to become a world-class city and a top global destination, here is a list of major developments that could change Cebu’s landscape in 10 years.
It is important that when a city grows, its supporting infrastructures must complement the demand of its growing populace. Here is a list of anticipated developments that will connect people to their destinations and boost Cebu’s economy especially in the real estate sector.
The first resort airport in the world – Mactan-Cebu International Airport.
Being the 2nd biggest international gateway in the Philippines, it will be undergoing a major expansion to become the first resort airport in the world with a capacity to accommodate 12.5 million passengers per year from its current 4.5 million and with increased direct flights connecting major cities in the world. The expansion project of the new terminal is scheduled to complete in 2018 while the improvement on the existing terminal will be completed in 2019.
The 3rd Mactan Bridge – Cebu-Cordova Bridge.
This 8.25 kilometer tollroad will connect SRP to Cordova town in Mactan. This bridge will help decongest the traffic in the two existing bridges and decrease the travel time for vehicles travelling from southern Cebu to Mactan and vice versa. This promising project is scheduled to start mid-2018 and its facility completed in 2020.
Mass Public Transport – Cebu Bus Rapid Transit System
It will be the first operational bus rapid transit system in the Philippines with its first implementation done in Cebu City and later on expand to Mandaue City, Talisay City, Lapu-Lapu City and soon to be integrated into the 300 hectare South Road Properties, a developing mega-township in Cebu. The first phase spanning 11 kilometers will start from Bulacao to Ayala with segregated busways and terminals along its path. The second phase will reach Talamban with an additional 6 kilometer distance. The project will start end of 2016 and the first route scheduled to be operational by the end of 2018.
Modernization and Relocation of the Cebu International Container Port
Central Visayas has experienced massive economic expansion lately which created the need to relocate the Cebu International Container Port into a bigger 25 hectare property situated in Tayud, Consolacion and decongest the old container port in Cebu City. This project is envisioned to become a modern international container port that can sustain the demands of Cebu’s growing economy. It will start its implementation by 3rd quarter of 2017 and to be completed 2nd quarter of 2020.
- Proposed Cebu-Bohol Friendship Bridge
If the proposed Cebu-Bohol Friendship Bridge is implemented, it will spur big economic impact in both provinces and this will complement the 3rd Mactan Bridge. Cebu and Bohol are well-known for its beaches, natural landmarks and cultural heritage which can spark increased tourism revenues. This bridge is proposed to pass through Cordova town and into Jetafe, Bohol with a 17 kilometer distance and if this will materialize, developers are encouraged to establish villages in Bohol to accommodate the workers in Mactan Economic Zones, hotel chains and world class resorts in Mactan.
- Proposed Iloilo-Guimaras-Negros-Cebu Link Bridge
The plan, tagged to be the most ambitious bridge program in the Philippines, is to connect four islands in the Visayas which is Iloilo, Guimaras, Negros and Cebu. The distance of these bridge-links will range from two to 10 kilometers and this will allow people to travel to Iloilo-Cebu on land. This initiative is part of the administration’s plan to spread the developments and spur growth across the Philippines and decongest Manila. More information will be released next year with the plan to complete this mega project within 6 years.
Commercial & Economic Expansions
Cebu is often regarded as the most strategic location outside Manila to start or expand a business because of its geographical advantage. It serves as the middle ground for businesses connecting all major regions in Luzon, Visayas and Mindanao. This small island with a total land area of 4,943.72 sqm has been a frequent destination of trade and commerce since time immemorial and is considered the 2nd most important urban center in the Philippines. With this advantage, more than 80% of inter-island shipping companies are based in Cebu. In business, let us take a look of upcoming industrial and commercial expansions in Cebu.
- Minglanilla Industrial Park
This 100 hectare industrial park located in Brgy. Tulay and Calajoan is scheduled to employ 75,000 workers by 1st quarter of 2017. The five phase masterplan that will house light industries such as manufacturing firms will have modern commercial support amenities and is considered a landmark development in Minglanilla because it can generate thousand of jobs for people living in the southern part of Cebu.
South Road Properties
It is a 300 hectare reclaimed mixed use development that is set to complete by 2025. It is situated along Cebu City’s east coast and is planned to become a smart city with world class system and facilities that is bound to compete with other modern cities in the world. It is expected to support the growing demand of business offices and commercial spaces and elevate the quality of life of its residents.
Citta di Mare
Citta di Mare which literally means “City By The Sea” combines the experience of city and resort- inspired living that is envisioned to become the new lifestyle capital of Cebu creating the dynamic mix of live, work and play concept. Filinvest, the developer of this township, owns more than 70 hectare tract of land in South Road Properties (SRP) and they plan to build landmarks and various amenities that will catapult Cebu to become a major destination in the world.
- SM Seaside Complex
It is a 30 hectare mixed use complex in South Road Properties with SM Seaside City, dubbed as the 3rd largest shopping mall in the Philippines, as its centerpiece. The mall features a Sky Park on its roof, an Olympic size ice-skating rink, an 18-lane bowling center, a 150 meter tall viewing deck, the iconic 21 by 21 meter “Cube” and with more than 400 retail stores. It also plans to build an Ocean Park and an indoor arena with a 16,000 seating capacity.
- Mandani Bay
Mandani Bay is a 20 hectare master-planned urban community with a mix of residential, retail and office components. Their vision is to transform Cebu into a world class lifestyle destination and this development will be spearheaded by Hong Kong Land which is a well-known developer of state-of-the-art facilities and landmarks in other major cities in Hong Kong, China, Singapore etc.. On top of its quality finishes and premium amenities is its 500 meter marina and boardwalk where occupants can enjoy the sunrise and sunset all day.
- Gatewalk Central - The Dynamic Center of Mandaue
The 17.5 hectare property will feature offices, retail strips, residences, open parks and a new Ayala mall. This upcoming development with the Ayala and Aboitiz brand will generate more than 9,000 jobs once the mall and BPO offices will be operational by 2019.
- The Mactan Newtown
The first township project of Megaworld outside Luzon. It sits on a 28.8 hectare estate and it will become the first cyberpark with access to the famous Mactan beach. Following the live-work-play concept, it will become a premiere address for high-end office towers, luxury condominiums, leisure amenities, retail shops, distinguished school and upscale hotels. By 2021, the township is projected to accommodate an estimated 45,000 workers in the IT-BPO sector.
With this mega infrastructures on the rise and the economic potential of Cebu to become a world class destination for tourism, BPO-IT, manufacturing zones etc…, it is forecasted that other towns and neighbouring provinces will follow or complement this economic boom. In real estate, this equates to a highly active marketplace and a sunshine opportunity for investors. And HotProperty.ph will help connect you to the property of your liking.