Hongkong Land and Taft Properties today jointly announced that their premium mixed-use joint-venture project in Mandaue City, The Philippines, will be named “Mandani Bay”. The project will be developed in phases and is anticipated to take 10 or more years to complete. It occupies a waterfront site of approximately 20 hectares with a prominent location between Mactan Island and Cebu Business Park, the home of Cebu International Airport and the major commercial areas in Cebu City.
Mr Robert Wong, Executive Director of Hongkong Land, said, “’Mandani’ is the ancient name for Mandaue, which is fitting for our project because it links Mandaue’s heritage with its bright future. Hongkong Land and Taft Properties intend to transform this part of Mandaue into a modern, yet culturally sensitive lifestyle destination. ‘Bay’ is also appropriate as it highlights the waterfront nature of this project. While Mandani Bay will be primarily residential it will also comprise retail and office components that will come together to form a mixed-use urban community. Hongkong Land has strong confidence in the future of Cebu and the Philippines and we believe this project will contribute positively to the city.”
Mr Jack Gaisano, Chairman of Taft Properties, said, “The key attractions of this master-planned project are its unique design features, the site’s strategic location and its extensive water frontage. The project will also be built around several distinctive characteristics aimed at creating an attractive community in line with international standards.”
The project is expected to leverage the combination of Taft’s intimate knowledge of the Cebu market with Hongkong Land’s international experience to provide a new benchmark for residential communities in Cebu.