Aniceto Bisnar Jr., Cebu Holdings Inc. president, says the planned resort hotel at the Seagrove development in Punta Engano, Lapu-Lapu City is estimated to cost around P1.5 billion. | Irene R. Sino Cruz
CEBU CITY–Another resort hotel will soon rise in Lapu-Lapu City.
Cebu Holdings Inc. President Aniceto Bisnar Jr. said that the land development is almost complete for the Seagrove project that is located at a coastal property in Barangay Punta Engano.
The 14-hectare Seagrove development is a project of Ayala Land Inc. (ALI) and Cebu Holdings Inc. (CHI), in partnership with Taft Properties Inc.
“Our Seagrove development will put up another hotel, possibly a Holiday Inn resort hotel, together with some boardwalk retail development integrated into our open space,” Bisnar said.
He noted that the project would require a sizeable investment, adding that the hotel alone would cost around P1.5 billion.
According to the CHI website, the Holiday Inn Resort will serve as the development’s main anchor with waterside retail, entertainment and outdoor recreation components.
The coastal boardwalk retail strip will have a view of the mangrove forest and several lagoons and will feature a pedestrian corridor.
CHI also bared that the total investment for the project is estimated at P35 billion. Of this amount, P4 billion will be allocated for its first phase.
Seagrove is also expected to generate 13,000 jobs throughout its development cycle. / dcb