Property investments continue to pour into Mandaue City
MANDAUE City continues to attract more investors as more property developments continue to sprout in the city.
Mario Ocleasa, Mandaue City Planning and Development officer, said in an interview yesterday that they attributed these development to Mandaue City’s location, which is now starting to be maximized.
Mandaue, a 40-minute drive from downtown Cebu City and barely 30-minute ride from the Mactan Cebu International Airport, carries with it the tagline “Heart of the Metro”.
“We want Mandaue to become a destination, dili lang agianan sa mga sakyanan ug sa mga tawo. That’s why we are developing a system nga maka-benefit sa mga tawo ug sa mga investors (We want Mandaue to become a destination, not just a mere passageway for vehicles and people. That’s why we are developing a system that will benefit both the people and the investors),” Ocleasa said.
He cited the city’s strong implementation of the Zoning and Classification Ordinance program as a major factor that drives investors toward the city.
Under the ordinance, the city is clustered into five planned unit development zones.
The zoning is designed to ease the planning and designing of land uses in Mandaue City.
Ocleasa reiterated that the city government’s consistent effort to reach out to investors and proprietors is also a big help in pulling economic opportunities toward the city.
“Our LGU and the businesses in Mandaue have a strong connection. Ato silang paminawon kung unsa ilang mga gikinahanglan.In return, maminaw pud sila sa atong mga regulations nga ipatuman (We listen to what these business owners need; in return, they also listen to and follow our regulations),” Ocleasa added.
Furthermore, Mandaue City has one of the lowest tax rates in the country.
The low real property tax rates were initiated by former mayor Jonas Cortes in his aim to make the city a major commercial hub of Cebu province.
The newly opened Toyoko Inn Cebu in A.S Fortuna Street is proof of the city’s promise as an investment destination.
The 18-storey hotel have 582 guest rooms and amenities similar to a luxury hotel but at a lower price.
Toyoko Inn Cebu is a project of the Toyoko Inn Co., Ltd and Everjust Realty Development Corp.
Justin Uy, Everjust Realty Development Corp. chairman, said that the cost of the building of the Toyoko Inn Cebu reached P1.2 billion, excluding the hotel amenities.
Toyoko Inn Cebu is the 266th branch of Toyoko Inn hotel chain globally.
Aside from Toyoko Inn Cebu, two big property projects are soon to rise in the city.
Gatewalk Central in Barangay Subangdaku and Mandani Bay’s third tower in F.E Zueling Avenue are among the upcoming developments of the city.
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