Mandani developer files for PEZA accreditation

CEBU, Philippines — The developer of 20-hectare Mandani Bay township, HT Land Inc., is currently applying for accreditation from Philippine Economic Zone Authority (PEZA).

This is to boost its office component offering, noting the high demand for office rental in Cebu, said HT Land Inc., project director Gilbert Ang.

In a press conference, Ang revealed that Mandani Bay is responding to the current pulse of the Cebu market, specifically in providing office spaces that offer fiscal incentives from PEZA.

Besides the residential and condo-hotel offerings, Ang said HT Land Inc., is also accelerating and increasing its inventory for office spaces.

The project’s 25-floor Tower 4 shall largely cater to office tenants.

Meanwhile, the project which is a joint venture between the Gaisano Group and Hong Kong-based HT Land, reported good take up of its residential condominium units.

Of the 500 units the company initially opened for selling last Aug.8, it’s Tower 2 has sold 350 units valued at P1.7 billion.

Ang attributed the fast sales take up of the residential to the strong appetite of local and regional buyers to invest on property in Cebu, either for personal use of business purposes.

There are about 1,342 residential units offered in Tower 2. What set Mandani Bay’s residential units, Ang explained is that all the residences in this tower are semi-furnished and generous in space.

Mandaue Bay is a 20-hectare township developed by Hongkong Land and Gaisano-led Taft Properties at the North Reclamation Area in Mandaue City.

HongKong Land is a listed leading property investment, management and develop group, which also has a number of mixed-use projects under development in cities across Greater China and Southeast Asia, including a luxury retail center at Wangfujing in Beijing.

Taft Properties on the other hand, shares the strength and stability of Metro Gaisano retail chain, its sister company, both of which form part of Vicsal Development Corporation. (FREEMAN)