Freeman Cebu Business

Within 5 yrs in Minglanilla, Industrial park in the south to generate 100T local jobs

Grace Melanie L. Lacamiento - The Freeman

CEBU, Philippines - About 100,000 employment opportunities will be made available in the local job market once the 100-hectare reclamation and industrial park in the municipality of Minglanilla, Cebu will be completed in less than five years.

The "Minglanilla Reclamation and Industrial Park" is considered to be the first-of-its-kind public-private partnership with the local government unit and the Ming-Mori Development Corporation that is aimed to address the shortage of Cebu in terms of economic zones.

Unlike the Mactan Export Processing Zone where companies are more engaged into heavy industries, the proposed project shall attract at least 50 local and foreign direct investors that are mostly inclined to light and semiconductor industries.

Ming-Mori Development Corporation chairman Jose Soberano III said that the reclamation project will have five phases and will be located at the coastal barangays of Tulay and Calajo-an.

He also said that Minglanilla could be now considered as the industrial gateway to the South once the project will be pushed through.

To date, he said that they are still working out on the plans and will be undergoing a process of bidding with the public reclamation authority.

He added that they hope to start the project by the second quarter of next year.

He said that the project is strategically located with the emergence of the connecting road to South Road Properties that could provide companies with the access and proximity to the metropolitan area.

Soberano who is also the president and chief executive officer of Cebu Landmasters, Inc. said that the homegrown real estate developer is a multi-product company that serves across all sectors in the market, ranging from residential developments for the middle and low market segments, economic and socialized housing, and commercial and office projects.

"And now, we're planning to come up with an industrial estate. With our direction, there is still a room for growth," he said.

He cited that the increasing demand felt in the real estate industry at present could be attributed to the vibrant economic growth of the province, growing net disposable income of people, higher liquidity and low interest rates and easier financial access of the market with the banking sector.

Following the success of its Midori Plains project in Tungkop, Minglanilla that is currently sold out, the developer also plans to introduce a highland feature of house and lots in a 8.8-hectare hilltop property in Tunghaan, Minglanilla. This newest modern and mid-housing development in the South is named as the Velmiro Heights that will be officially launched by the end of September.

Soberano particularly lauded the support and cooperation of the local government unit of Minglanilla to cater to real estate developers like CLI in order to promote the municipality as the residential capital in southern Cebu.

It was also last May that CLI broke ground on its flagship full office project and fourth vertical development, the Park Centrale. It is a 19-storey office building with one-level basement which is located at Cebu IT Park and is projected to be finished in less than two years. 

Soberano further revealed that they are eyeing the northern part of Cebu particularly Mandaue, Consolacion and Liloan for upcoming residential, commercial and industrial projects.

He also shared that they are laying out their expansion plans in the major cities of Visayas and Mindanao regions that include Bohol, Cagayan de Oro, Bacolod, Iloilo, and Davao which could formally start in the middle of next year.

CLI started to build a name in its first residential project in Balamban in 2003. This month, the homegrown real estate developer celebrates its 10th year anniversary in the business. — (FREEMAN)

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