Cebu Holdings Inc. president Aniceto Bisnar Jr. (extreme left) says bright prospects remain for Cebu economy during their recent stockholders meeting. Also in photo are CHI board members Augusto Bengzon (middle) and Bernard Vincent Dy (right). /Irene R. Sino Cruz
CEBU CITY, Philippines—Cebu Holdings Inc. (CHI) will be investing at least P10 billion in various projects in the next five years, said CHI president Aniceto Bisnar Jr.
“We would like to continue our growth path since we are already present in at least five estates. We have Cebu Business Park, Cebu IT Park. Then we have the Gatewalk development in Mandaue, our Seagrove development in Lapu-Lapu (City) and also our SRP property south of Cebu,” Bisnar said in an interview.
The five mixed-use estates would allow Cebu Holdings to continue to develop projects for leasing, for our retail, for our hotels, he explained.
According to Bisnar, the company invested around P4.2 billion in terms of capital expenditure on various projects last year.
The company broke ground for a new development at the Cebu IT Park. The Flats is a new co-living concept with 455 units to cater to the growing community. It is scheduled to open in 2021.
The construction is also ongoing at the 2-hectare superblock in Cebu IT Park. The Central Bloc will include a regional mall, another Seda Hotel and two office towers. The regional mall and one of the two office towers will open this year.
On the other hand, the Gatewalk Central development in Subangdaku, Mandaue City is a 17.5-hectare master planned estate that will include office buildings, residential spaces and family-friendly parks.
Cebu Holdings has invested P1.1 billion in the project in 2018.
Meanwhile, the company also plans to develop Seagrove, a mixed-use resort estate with an eco-fun boardwalk concept along Mactan’s bayside coast.
Cebu Holdings is now undertaking land development of the 13-hectare Seagrove project in partnership with Taft Property Venture Development Corp.
In his speech during the recent stockholders’ meeting, Bisnar cited the bright prospects in Cebu’s tourism, retail and overall economy.
“And as we continue to celebrate milestones, Cebu Holdings will commit to its record of finding new sources of growth, and to do so as a leading advocate for sustainable land development,” he said./dcb