Arcenas Group president Danny Arcenas said the company is willing to work with hotel developers or condominium developer investors to build hotel or high-rise condominium facilities in the area, which will soon be another landmark in the southern part of the city.
"Hotel developments, as well as high rise condominiums are congested in the northern part of Cebu, or in the uptown area, so far there is no hotel project being built in the southern part," Arcenas said.
"We are willing to work with any hotel or condominium investors. We have a very good location for these kinds of facilities in the 20-hectare estate," Arcenas said, referring to the uphill side of the property.
Currently, the company is spending about P200 million to develop an upscale commercial center within the 20-hectare Arcenas Estate called Paseo Center Cebu.
Arcenas said a hotel development is a viable project in this area, especially that Cebu is desperately needing more hotel rooms to accommodate the increasing number of visitors.
"It seems that the southern part of Cebu is taken for granted. Today, all developments, for commercial facilities are all going northward," said Arcenas.
As of this moment though, he said the focus of the company is to build the commercial center aspect, after that, the company may be able to focus on other project, or may be able to partner with interested condominium or hotel developers.
The 5,000 square-meter Paseo Center Cebu is the initial phase of the three-hectare commercial development of the Arcenas Estate. It is the first large commercial development to be introduced in the southern part of Cebu City that provides one-stop-shop facilities for dining, entertainment, banking and ATM, health and fitness, beauty and fashion, travel and tours, electronics and communications, hardware and appliances, among others.
The first phase of the commercial development will involve the creation of the neighborhood commercial center, where it will house well-known and branded coffee shops, pastry shops, fast food, pharmacy, bakeshop, among others.
The second phase will already include a development of a mini-mall that will have an anchor department store, RTW shops.
Construction of the Paseo Center Cebu will be completed this coming July. Hopefully by September of this year, tenants will be able to commercially open.
"We are the first upscale, mixed-used real property development in Cebu City South. We started to redefine 'southern comfort' with our first venture, Paseo San Ramon. Paseo San Ramon's reputation as a premier residential development has been proven time and again. Its reputation is our benchmark," Arcenas said.