Real estate giant Ayala Land Inc. is spending close to P90 billion for its share of a new estate at the South Road Properties in Cebu City which it will be jointly developing with SM Prime Holdings Inc.
In a press briefing, ALI Senior Vice President and Ayala Land Estates Group Head Anna Ma. Margarita B. Dy said the South Coast City is a 26-hectare waterside development poised to be the new home of prime entertainment and commercial concepts in Cebu.
Developed by a consortium of SM Prime, ALI, and ALI’s subsidiary Cebu Holdings, Inc., South Coast City aims to further enhance the region’s offerings and generating significant employment and investments.
“With the South Coast City, we once again have an opportunity to make a mark and contribute to regional and national progress,” Dy said.
Located within the South Road Properties, the mixed-use estate will feature a commercial center, a 1.1-hectare park, an arena, a convention center, and other recreational facilities which cater to different age groups and varied interests.
The estate stands only 50 meters away from SM Seaside City Cebu Mall; 2 kilometers from the Cebu South Bus Terminal; 4 km from the Cebu City Seaport; and just 11 km from Mactan Cebu International Airport.
Strategically positioned to link North and South Cebu with Mactan, it is highly accessible through major highways including the Cebu South Coastal Road and the upcoming Cebu-Cordova Link Expressway or CCLEX (3rd Mactan Bridge).
“With this blank slate, we can create something Cebu has not seen before: a best of both worlds scenario. A contemporary development with the latest urban innovations with seaside views, and Cebu’s beaches just a short drive away,” Dy added.
As with other Ayala Land estates, South Coast City’s design will integrate sustainable features such as an inclusive pedestrian and bike experience, convenient access points and transit options, dynamic wide open spaces and a 1.1-hectare park.
Within South Coast City is District Square, the only waterside commercial lot offering in Cebu. It covers 2.7 hectares with 11 commercial lots for sale, all ranging from 1,777 to 2,601 sqm.
South Coast City will also be the venue for Cebu’s first-ever Arena, which will soon open as a place of convergence for many of the region’s highly celebrated events.
“Today our focus is set on a V-shaped recovery for our business and economy. We believe that our vision of ‘enhancing land and enriching lives for more people’ is now relevant more than ever, as we continue to build spaces that not only raise the quality of life for many, but also generate livelihood and employment for a great number of Filipinos,” ALI President and CEO Bobby Dy said.
He added that, “As one of the country’s fastest developing hubs, we believe this development will not only put a spotlight on Cebu as a destination of future growth – but will likewise elevate experiences and opportunities for Cebuanos and visitors alike.” The land development construction of South Coast City is underway and scheduled for completion in May 2022.
Meanwhile, the block development construction of District Square is already more than halfway through and is targeted to be completed by June 2022.