Worldwide Central Properties officials led by its founder Lina Ong (3rd from left) and Ascott Limited officials led by Arthur Gindap (2nd from right) announce their partnership for The Suites project. (CDN PHOTO/CHRISTIAN MANINGO)
Cebu property firm ties up with The Ascott for The Suites
A HOMEGROWN property developer is planning to spend around P1 billion for its luxury condominium project in Cebu City which is targeted to be completed in 2021.
“That is what we aim at Worldwide. We want to spur commercial development in Gorordo,” said Sharon Ong, Worldwide Central Properties, Inc.’s vice president for marketing, in a press conference on Thursday.
Ong was referring to Worldwide’s The Suites at Gorordo Ave. and its partnership with The Ascott Limited for The Suites at Gorordo, a project seen to bring about commercial growth in the area.
The Suites is a 28-story condominium project with 160 residential units and 150 serviced apartments. It will be built on a 1,000-square meter lot at the corner of Gorordo Avenue and Archbishop Reyes Avenue in Cebu City.
A serviced apartment is a fully furnished apartment for both short-term and long-term stays, providing hotel-like amenities.
Ong said they are positive that once the project rolls out, more commercial and business establishments will also rise in the area.
She said Worldwide, the developer of Sundance Residences in Banawa, Cebu City, went into the serviced apartment market due to the growing number of tourists in Cebu.
“We went into this market because of the surge in domestic and international arrivals here,” she explained.
For the first five months of 2016, Cebu already logged 1.5 million in domestic and foreign tourist arrivals, making up the bulk of figures for Central Visayas.
Arthur Gindap, Ascott regional general manager for the Philippines and Thailand, said Cebu is the “story outside and aside Manila.”
He said they’ve been trying to penetrate the market for six years before their partnership with Worldwide and that they plan to do more projects here.