Cebu remains a hot market for AboitizLand

We think Cebu is a very hot market and it continues to be. We want to continue to expand our footprint there as we also go national.

The Aboitiz Group that owns property firm AboitizLand is expanding its development footprint in Cebu where it first shot to national prominence.

Property developer AboitizLand Inc. bared optimism for 2020 as it looks to develop projects across its commercial, residential and industrial segments primarily in its base province, Cebu.

The real estate arm of the Aboitiz Group said among the projects slated for construction is a 1.2 hectare multi-tower condominium project in Mandaue city, which it will develop through a joint venture with Visayas-Mindanao developer Cebu Landmasters Inc.

AboitizLand first vice president of operations Rafael Fernandez de Mesa said the development, intended as a mixed-use complex targeted toward the mid-market segment, will feature about three to four towers.

“We’re still in the planning stages. We will probably be able to launch it towards the end of next year. The property is acquired and planning is underway,” De Mesa said at the sidelines of a briefing in Makati on 6 November, Wednesday last week.

AboitizLand is also developing a 15-hectare mixed-use project in Mandaue via a joint venture with Ayala Land Inc. The project, dubbed Gate Walk Central, will launch its first residential condominium soon after the establishment of a mall within the lot, De Mesa said. Details of the project will be disclosed by the first quarter of 2020.

Within the National Capital Region, the company has also recently signed a partnership agreement with integrated micro studio developer Point Blue for the construction of micro studios for rent in Metro Manila.

“By the end of the year, we’ll have six buildings in the periphery of Bonifacio Global City and Makati Central business district. We’ve also acquired a number of properties already. We’ll have a total of 2,000 units in a couple of years,” de Mesa said.

Meanwhile, AboitizLand is looking at opening a new commercial block possibly for the integration of BPO buildings in its Batangas integrated township, LIMA. The developer is also planning another BPO building within the Mactan Economic Zone II in Cebu.

Asked why the company pursues expansion in the province even as it also eyes developments in provincial locations such as Central and Southern Luzon, De Mesa said the Cebu market remains “hot.”

“We think Cebu is a very hot market, and it continues to be. We want to continue to expand our footprint there as we also go national.”