ALI earmarks P90 billionfor mixed-use SRP project

CEBU, Philippines — Ayala Land Inc. (ALI) announced to spend P90 billion for the development of its 26-hectare commercial and residential estate at the South Road Properties (SRP).

Called the South Coast City, this third business district being built by ALI in Cebu City, next to the Cebu Business Park and Cebu IT Park, is seen to generate at least 100 thousand jobs for Cebuanos.

South Coast City, a waterside development, is poised to be the new home of prime entertainment and commercial concepts in Cebu, said Anna Ma. Margarita “Meean” B. Dy, senior vice-president and head of Ayala Land Estates Group during a virtual briefing yesterday, June 29, 2021, to announce the project’s update amid the ongoing pandemic.

Developed by the consortium composed of SM Prime Holdings, Ayala Land, Inc., and Cebu Holdings, Inc., South Coast City aims to contribute to Cebu’s economic recovery efforts by further enhancing the region’s offerings and generating significant employment and investments.

“With the South Coast City, we once again have an opportunity to make a mark and contribute to regional and national progress,” Dy added.

ALI’s 38th mixed-use estate, the South Coast City’s development comes on time with the scheduled opening of the Cebu–Cordova Link Expressway (CCLEX), also known as the Cebu–Cordova Bridge by second quarter of 2022.

“Today our focus is set on a V-shaped recovery for our business and economy. We believe that our vision of ‘enhancing land and enriching lives for more people’ is now relevant more than ever, as we continue to build spaces that not only raise the quality of life for many, but also generate livelihood and employment for a great number of Filipinos,” Ayala Land president and CEO, Bobby Dy said.

“As one of the country’s fastest developing hubs, we believe this development will not only put Cebu on the spotlight as a destination of future growth – but will likewise elevate experiences and opportunities for Cebuanos and visitors alike,” he added.

A PEZA registered estate, it will feature a commercial center (also known as District Square), a 1.1-hectare park, an Arena, a convention center, and other recreational facilities that will cater to different age groups and varied interests.

The estate stands only 50 meters away from SM Seaside City Cebu; two kilometers from the Cebu South Bus Terminal; four kilometers from the Cebu City Seaport; and just 11 kilometers from Mactan Cebu International Airport.

Strategically positioned to link North and South Cebu with Mactan, it is highly accessible through major highways including the Cebu South Coastal Road and the upcoming Cebu-Cordova Link Expressway or CCLEX (3rd Mactan Bridge). It’s also in proximity to other landmarks such as the SM Seaside City Cebu, Cebu Ocean Park, UP Cebu SRP Campus, Alta Vista Golf Course, and other residential and retail developments.

“With this blank slate, we can create something Cebu has not seen before: a best of both world’s scenario. A contemporary development with the latest urban innovations with seaside views, and Cebu’s beaches just a short drive away,” Dy added.

South Coast City will have urban innovations that are new and refreshing to the Cebu landscape. As with other Ayala Land estates, its design will integrate sustainable features such as an inclusive pedestrian and bike experience, convenient access points and transit options, dynamic wide open spaces and a 1.1-hectare park. This tree-covered oasis is complemented a wide array of shopping and dining concepts and covered walkways with scenic views and features.

Within South Coast City is District Square, the only waterside commercial lot offering in Cebu. District Square presents a one-of-a-kind opportunity for business growth among investors, corporations, and entrepreneurs. It covers 2.7 hectares with 11 commercial lots for sale, all ranging from 1,777 to 2,601 sqm.

A 4,000 sqm park lane pedestrian system will connect the main areas of the commercial center, thus promising convenient foot travel among professionals even during the busiest days. This will amplify the unique Cebu metropolitan coastal experience – a premier integrated estate, in a waterside setting.

South Coast City will also be the venue for Cebu’s first-ever Arena, which will soon open as a place of convergence for many of the region’s highly celebrated events. As the country continues to adapt to the new normal standards, the Arena is being constructed as the future go-to destination for safe recreation and events.

The land development construction of South Coast City is underway and scheduled for completion in May 2022. 

Meanwhile, the block development construction of District Square is already more than halfway through and is targeted to be completed by June 2022.