CEBU, Philippines — Strongly known for its strong penetration in retail trade, the Metro Gaisano Group is now venturing into the lucrative tourism industry, starting with hospitality development.
Taft Property Venture Development Corporation (Taft Properties) will soon develop a hotel facility within its 1.5 hectare mini-township development located on the corner of Cardinal Rosales Avenue and Pope John Paul II Avenue near the Cebu Business Park, called Taft East Gate.
Myra Lynn Gilig, the company’s vice president and deputy chief executive officer (COO) said the company is putting a hotel component in its integrated project, which may be managed by a branded international hotel chain.
This early, the property development arm of the Gaisano family’s Vicsal Development Corp., has initially entered the hospitality business by opening some units of Horizon 101 development along Mango Avenue as serviced apartments to cater the growing accommodation demand in Cebu.
The entire development is anchored within the 10-year master plan, which consists of four towers consisting of retail components, residential, office buildings, serviced-apartments, and a hotel.
Taft Properties started the project in 2018. Next year, the retail component will be opened which will jumpstart the creation of an integrated community within the main business district.
In recent years, local developers have been forging partnerships with international hotel brands in Cebu.