P5-B Worth of New Projects to Boost Cebu Property Sector
CEBU CITY, Cebu - Ayala Land, Inc. (ALI) and its subsidiary Cebu Holdings Inc. (CHI) will inject some P5-billion in fresh investments in various real estate projects in Cebu this year.
Part of its capital expenditure in Cebu will go to the building of the P1.6-billion ACC Corporate Center that will be interconnected with the existing Ayala Center Cebu mall.
"This new investment for Cebu is a testament of ALI's optimism and confidence in Cebu's thriving economy, as shown by the performance of Cebu Park District covering the Cebu IT Park and Cebu Business Park (CBP," Aquino said.
The ACC Corporate Center, to rise on a 3,424-square-meter property, is envisioned to be a 20-storey, Grade A building with office space for business process outsourcing (BPO) locators. It will complete the CBP's "live, work, play" concept.
Also, the ACC building will make CBP development fully-integrated with elements like hotel, retail, residential and corporate offices in place.
The building will have 12 floors devoted to office space with a total gross leasable area of 28,574 square meters, two floors for retail establishments, and six levels of parking.
To accommodate at least 3,000 employees, the building is targeted for completion in the second quarter of 2015.
Aquino said the ACC Center is an ideal office space since it is completely attached to Ayala Center Cebu, and is located near the existing public utility jeepney and public utility vehicle terminal and the proposed city bus rapid transit. …