SM, Ayala eye 5-ha property within MCIA complex

MANILA, Philippines - Local and foreign developers including the SM and Ayala Groups as well as a Las Vegas-based company have expressed interest in developing a five-hectare real estate property within the Mactan-Cebu International Airport (MCIA) complex.

GMR-Megawide Cebu Airport Corp. (GMCAC) is set to bid out the five-hectare portion of the complex for a mixed-used commercial development.

“The development is right across the new terminal. It’s five-hectare, mixed use development. We’ll just provide the property. There will be hotels, gaming and commercial developments,” said GMCAC president Louie Ferrer.

Ferrer said GMCAC would award the lease and development contract to only one bidder.

“We hope to close this in two months,” Ferrer said.

He said the project is interesting because the airport has been attracting a wide mix of local and foreign tourists.

“The airport has been attracting Koreans, Japanese, Chinese among others. They are the market. The development is just across the airport. You don’t have to go out. The hotel is already there.

Megawide through GMCAC made its foray into the airport business in 2014 after it acquired the concession to operate Mactan Cebu International Airport (MCIA), beating bigger conglomerates.

The 25-year build-operate-transfer contract includes the renovation of all landside facilities and the construction of a second passenger terminal.

Ferrer said they have learned a lot since taking over the operations of the Mactan-Cebu Airport, which they can easily apply should they win the five regional airports the government is set to bid out under the public-private partnership scheme.

“We are renovating and at the same time operations are ongoing so we really learned a lot,” he said.

For the five airports, Ferrer said it would be ideal to operate all five because of the “sister airport concept” wherein the airlines and other airport stakeholders will just be talking to one operator instead of several operators.

These regional airports are the P20.26 billion Bacolod-Silay Aiport; P30.40 billion Iloilo Airport; P40.57 billion Davao Airport; P14.62 billion Laguindingan Airport and P2.34 billion New Bohol Airport.