Cebu business hubs get ‘facelift’By Theresa S. Samaniego
Philippine Daily Inquirer
CEBU CITY—Business hubs in this city are in for an overhaul.
Ayala Land Inc. and its affiliate, Cebu Holdings Inc., are embarking on a P7.5-billion major redevelopment project that will integrate two existing hubs—the Cebu IT Park and Cebu Business Park—into an urban ideal akin to two of the most iconic business centers in Metro Manila—Makati and Bonifacio Global City.
According to ALI, these two districts demonstrated how the company was able to strategically lay out business, commercial, leisure and residential developments, along with open spaces and lush parks that arguably, heighten the cityscape—mirroring as well the thriving urban hubs in renowned cities like Hong Kong, Singapore, New York and London.
After all, business hubs will no longer be defined by office buildings and commercial zones. These are now slowly transforming into city centers—clusters of leisure and residential developments for the present-day urbanite.
Burgeoning global hub
In a press briefing here, ALI officials revealed that the 74-hectare development, which will be called Cebu Park District, will further affirm the character of Cebu City as a burgeoning global hub.
Once completed, it will serve as home to leading business and commercial conglomerates in the area, thus creating a destination that would allow urbanites to enjoy a space that espouses both convenience and recreation.
The fusion of both parks is actually just one of the facets that will define the company’s venture in the Queen City of the South because in the last two to three years, ALI together with CHI, have already invested a hefty P10.5 billion to develop and revitalize Cebu Park District’s overall masterplan.
Such a huge undertaking, according to ALI, has produced great results that are practically noticeable in its landscape that continues to thrive in terms of business, commercial, leisure and residential aspects.
One of the main highlights of the P7.5-billion redevelopment integration project will be the expansion of Cebu Business Park’s lifestyle centerpiece—Ayala Center Cebu.
“This distinctive lifestyle destination is regionally recognized for housing different premier shopping and dining options to serve the gustatory desires of both locals and tourists. Given its function, it basically completes and balances the urban experience in Cebu’s urban hub,” said ALI president and CHI chair Antonino Aquino.
“However, the expansion that involves the investment share of Ayala Land Premier (ALP), will broaden the basic intent of its masterplan,” Aquino added.
Presenting a new living concept that will mark the beginning of sophisticatedly modern and integrated living within the premier shopping, dining and entertainment destination itself, ALI through Ayala Land Premier is expanding its footprint in the region through Park Point Residences.
First of its kind
The 38-story residential tower will be the first-of-its-kind in ALP’s residential portfolio in the region, as it is the first living space that will rise on top of the mall’s soon-to-be-developed wing, which will house a new Rustan’s department store and the expanded Rustan’s Supermarket.
“Given its location, future residents will experience sophistication and convenience at the same time, as Park Point Residences will offer private access to the soon-to-rise destinations in Ayala Center Cebu,” noted ALP head Jose Juan Jugo.
“While the idea of living a sophisticated lifestyle is not new to Cebuanos, the newest residential development will further the experience through replicating globally designed lifestyles in major cities worldwide, as Park Point Residences will be set right at the heart of an exciting urban enclave,” he further noted.
With a total of 255 one- to three-bedroom units, the iconic residential tower will offer a vast view of Cebu’s vibrant cityscape, as well as the expansive sea that borders the city. And with the breadth of casual and fine-dining and premium retail outlets right outside the property, urban achievers who keep their lives aligned with the city’s fast-paced lifestyle will find a home complementing their aspirations in Park Point Residences.
Prior to Park Point, ALP had introduced back in 2010 a pioneering living concept in Cebu, through 1016 Residences.
The said residential tower, which is set to be turned over third quarter of 2014, aims to bring a country-club living experience to its future residents, as it will offer direct access to City Sports Club of Cebu.
“Most of the thriving cities across the globe demonstrate or envision offering a lifestyle that is defined by expediency and refinement, coupled with options that allow urbanites to breathe and relax despite the fast-paced setting,” Jugo said.
“That is basically what the expansion of Ayala Center Cebu and the rise of Park Point Residences will replicate in the coming years—a pensively masterplanned urban center and residential enclave that will reinforce the innate sophistication and urban convenience of Cebu,” Jugo concluded.
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