Innoland to build P7-B Iconic hub in Metro Cebu
A SEVEN-BILLION three-tower project will soon rise in the heart of Cebu City, a project which local developer Innoland Development Corp. expects to become an iconic hub in the city.
“Innoland takes on higher ventures as it unveils the next iconic hub in the heart of Cebu Metropolis,” said Crystal Chloe Ong-Chua, internal vice president for sales and marketing during a press briefing on Wednesday.
Charles Vincent Ong, Innoland chief operating officer, said the company’s total investment for the three-tower project called Montage is P7 billion.
One Montage, the first tower, will be constructed at a 1.3-hectare property where Magellan Hotel once stood, according to Ong-Chua.
The tower will have 28 floors. Four floors, from lower ground floor to 3rd floor, will be used as retail spaces, which will carry local and international brands. Nineteen floors, 9th to 28th floors, will be allotted as office spaces. There will be seven parking levels, two at the basement and from 4th to 8th floor.
One Montage will have a total leasable space of 2,995.67 sq. m. for retail space. The second floor will have an alfresco area. On the other hand, the office space will have a total leasable area of 42,001.11 sq.m.
The tower will have 589 parking slots, eight sets of escalators, a common elevator for all floors, five low-zone elevators, six high-zone elevators as well as two retail passenger and one service elevators to serve the lower basement to the 3rd floor retail areas.
The first tower is scheduled for turnover in the first quarter of 2019, Ms. Ong-Chua said.
The company will be seeking Leadership in Energy and Environmental Design (LEED) classification for the three-tower development, Ong said.
Meanwhile, the company will also build a 45-floor tower on a 6,111-sq.m. property along Malugay St., Makati City, just within the business district.
Altaire
Innoland will invest P6 billion for Altaire, a Grade A, green efficient building. It will offer upscale office spaces to companies looking for international-standard working environments.
Innoland’s first ever project in Makati City, called Altaire, will have a 58,273 sq.m. leasable office area and a 984 sq.m. leasable retail area. It is estimated to be completed in 2021.
The project is designed to look more like an upscale hotel rather than a typical office building, while still maintaining 84 percent building efficiency, the company said.
The word Altaire is derived from the 12th brightest star in the night sky and the brightest star in constellation Alpha Aquila. Its features include two elevators, one for high and a second for medium levels.
Innoland Development Corporation is an established real estate business in Cebu City registered under the Philippine Securities and Exchange Commission in August 2005.
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