Seeing more demand for more mixed-use developments in Cebu, Ayala Land, Inc. (ALI) signed a joint-venture with local developer Aboitiz Land, Inc. for a 15-hectare mixed-used project in Subangdaku, Mandaue City.
In a joint press release, Ayala Land, Inc. said it will develop and operate the property which they envisioned as another “city center” in Cebu.
“The partnership brings together Ayala’s track record in developing master-planned, sustainable communities and AboitizLand’s vast and deeply-rooted real estate experience in Cebu, for the development and operation of a 15-hectare city center in Subangdaku, Mandaue City in Metropolitan Cebu,” the statement wrote. The development is targeted for launching next year.
This project will be Ayala Land’s fourth major mixed-use district in Metro Cebu.
It already developed and currently operates Cebu Business Park and Cebu IT Park, and recently announced their partnership with another local developer Vicsal Group for a 12-hectare development in Mactan.
This will be the 20th project for AboitizLand which developed 19 projects in Cebu consisting mostly of integrated residential communities, commercial pockets and industrial parks such as Pristina North, The Persimmon Towers, Ajoya, Mactan Economic Zone 2 (MEZ2) and Pueblo Verde which recently launched The Outlets.