AboitizLand to build residential, BPO facilities at Mandaue recla

CEBU, Philippines - Aboitiz Land Incorporated is set to develop its 15-hectare property at the Mandaue North Reclamation Area, to establish a new integrated development that will include BPO buildings, hotels, and residential facilities.

AboitizLand Inc. vice president for marketing and sales Manuel U. Arbues II announced that this project, which will start next year, is another commercial development to be introduced by the company, after the Mactan Export Zone II.

Although, the master plan of the project is already completed, it is still subject for the company’s board approval.

This project is one of the two to three projects that will be introduced by the company in 2011, excluding the expansion ventures on its existing residential developments.

According to Arbues, the company has to take advantage of the booming commercial real estate industry in Cebu, specifically in providing more BPO-ready buildings.

Part of the plan is to invite a hotel developer to locate in the area, as well as building series of mid and high-rise towers for condominiums and BPO markets.

Aside from the integrated development project, Arbues said Aboitiz Land will also unveil several pocket-residential developments that mostly provide condominium units.

Next year, the company will launch its 4-hectare Condominium project in Canduman area that will offer a “country club residential concept” in Cebu.

Also, another project will be introduced next year, to be called North Bacayan, which is adjacent to its high-end residential project—Pristina North.

According to Arbues, the company is bullish on the real estate industry in Cebu, considering that it remained unfazed despite the global economic crisis.

Recently, the company launched the Pristina North Residences project, which offers house and lot choices to buyers in the chic Pristina North subdivision located in Bacayan, Talamban.

“The economy especially in Cebu is better now. People have more money. There is a strong demand for middle-range to high-end residential developments,” said Arbues.

These high-end town houses with lot cuts measuring to as big as 191 square meters will be pegged at P8 million to as high as over P10 million.

Arbues added that the company will formally announce the details of its new projects for 2011 in the next few months.