United States group, Cebu partner to develop P4B seaside project

CEBU, Philippines – American hotel management company Starwood Hotels & Resorts Worldwide has partnered with homegrown developer AppleOne Properties Inc. for the development of a multi billlion seaside project in Mactan Island.

The partnership will be carried out via the newly established subsidiary of AppleOne Properties, the AppleOne Mactan Inc.

AppleOne Mactan Inc. president Ray Go Manigsaca said that the entire development of the five-hectare seaside project in Punta Engaño, Lapu-Lapu City  will cost the company an estimated investment of P4 billion.

The multi-billion-peso project officially broke ground yesterday.

Starwood Hotels & Resorts Worldwide will open its first branded residences property in Southeast Asia in this Mactan project, a big comeback for the Group’s luxury brand Sheraton whose Sheraton Hotel in Manila closed a few years ago.

Starwood will build a total of 250 luxury resort rooms  and 186 residential units for its The Residence at Sheraton Cebu Mactan Resort  targeted to complete in the first quarter of 2019, with the residential units scheduled for turnover to owners a year after.

“We felt strongly about Cebu in both property development and tourism [business],”  said Charlie Dang, Starwood Hotels and Resorts regional vice president for South East Asia.

The Residence at Sheraton Cebu is so far the first branded residences to be managed by the company in southeast Asia, an indication of its strong confidence in the fertile business potential for luxury living in the Philippines, specifically Cebu.

“We are excited with this auspicious start of our partnership with Starwood Hotels & Resorts Worldwide Inc. as we believe the project would boost local tourism as well as bring the hospitality industry in the region to a higher level,” added Manigsaca.

The project, according to Cyndy Tan Jarabata, president of Tajara Leisure and Hospitality Group,  will introduce a new residential lifestyle not just in Mactan but the whole of Cebu.

Tajara Leisure and Hospitality Group is AppleOne Mactan’s exclusive marketing partner. (FREEMAN)