TEN residential buildings are ready for occupancy for both San Remo and Amalfi, condominium complexes at City di Mare, the 50-hectare urban development at the South Road Properties (SRP).
Filinvest said in a statement that the development of these residential projects had helped attract investment interest and increase the land value at SRP compared to its value prior to the joint venture agreement (JVA).
Filinvest was referring to City di Mare, which is a joint venture project between the Cebu City government and the real estate company and the largest master-planned coastal township in Cebu.
The JV project’s latest developments were shown to members of the Cebu City Council in a recent visit to City di Mare.
“The vision for City di Mare as the new lifestyle capital of Cebu is now taking shape. We thank the City Council for the opportunity to show them the fruits of our partnership,” said Tristan Las Marias, Filinvest senior vice president for Vis-Min cluster.
Aside from the ready for occupancy residential buildings of the condominium complexes in the SRP development project, the councilors were also shown the completed amenity facilities of the two condominium complexes.
These include a clubhouse with a multi-functional hall, function rooms and a grand dining hall, and swimming pools for adults and for kids.
FLI also discussed the plans for Il Corso, the 10-hectare and the only waterfront lifestyle strip in Cebu that would soon offer a wide range of retail brands and a myriad of culinary options on top of the now-popular Central Piazza making for a unique shopping and recreation experience.
According to Filinvest, that being the first investor in the SRP, the development of the City di Mare at the SRP is the fruition of Cebu City Mayor Tomas Osmena’s dream for Cebu to have a residential cluster, an events destination and an attractive lifestyle in one destination.
Osmena lobbied for the creation of the SRP in the early 90s, which was envisioned to boost the massive development of Cebu as a major investment and leisure destination in Asia.
SRP now has a total area of 300 hectares prime property set on reclaimed land along the city’s east coast.
During the councilors’ visit, Filinvest representatives also discussed the Bus Rapid Transit plans and plans for the SRP.