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Multi-billion Property Project Launched in Subangdaku

Multi-billion-property-project-launched-in-Subangdaku

ALI-Aboitizland’s Gatewalk Central conceptualized to be Mandaue City’s new business center

Mandaue City will soon have an Ayala Mall, Avida Towers and more office spaces for business process outsourcing companies with the launching yesterday of the multi-billion joint venture project between Ayala Land Inc. (ALI) and Aboitiz Land in Barangay Subangdaku.

At least P10 billion has already been invested for the initial development of the 17.2-hectare mixed-use property called Gatewalk Central, which will feature office buildings, residential areas, parks and retail stores including the Ayala Mall.

Aniceto “Jun” Bisnar Jr., president of Cebu Holdings Inc., an affiliate of ALI, said that P10 billion had already been invested for the initial development of project in the first three to five years.

“It’s about time that Mandaue City should have a dynamic first-class facility to support its economic growth,” said Bisnar during a media briefing at Cebu City Marriott Hotel, a few hours before the ground breaking ceremony and launching of Gatewalk Central at the project site which is a former football field in Barangay Subangdaku.

Patrick Reyes, chief operating officer of AboitizLand, said that the partnership with ALI was made possible through the creation of a joint venture company called the Cebu District Property Enterprise Inc. (CPDEI).

Reyes said that although the land was owned by AboitizLand, CPDEI opted to buy it.

He said that the football field was originally more than 16 hectares, and they later purchased the rest of the area through the help of ALI.

GATEWALK CENTER GROUNDBREAKING/JUNE 6, 2016: Cebu Gov. Hilario Davide III; Outgoing Mandaue City Mayor Jonas Cortes; Bobby Dy, President and CEO of Ayala Land, Inc.; Andoni Aboitiz, AboitizLand Board / President CEO (from L-R) lead the groundbreaking ceremony of the Gatewalk center at barangay Subandaku Mandaue City.(CDN PHOTO/JUNJIE MENDOZA)

GATEWALK CENTER GROUNDBREAKING/JUNE 6, 2016: Cebu Gov. Hilario Davide III; Outgoing Mandaue City Mayor Jonas Cortes; Bobby Dy, President and CEO of Ayala Land, Inc.; Andoni Aboitiz, AboitizLand Board / President CEO (from L-R) lead the groundbreaking ceremony of the Gatewalk center at barangay Subandaku Mandaue City.(CDN PHOTO/JUNJIE MENDOZA)

Cebu Gov. Hilario Davide III, (from left) Mandaue City Mayor Jonas Cortes, Dy, and Aboitizland president Andoni Aboitiz lead yesterday’s groundbreaking ceremony. (CDN PHOTO/JUNJIE MENDOZA)

Carol Mills, head of Ayala Land Offices, in a separate interview, said after the project launch that the Avida Towers will be the first development that has a 1,800 gross leasable area in Gatewalk Central.

Another eight-story high office building will also be built on top of the Ayala Mall, which will have a gross leasable area of around 20,000 square meters.

She said that the Ayala Mall will also open in 2019 and will feature Landmark Department store and will offer a wide mix of popular global and local brands, family dining and entertainment concepts.

The Gateway Central envisioned to be the “Dynamic Center of Mandaue” in Subangdaku.

One of the advantages of the mixed-use development is access to three national roads — Lopez Jaena St., M. Logarta St. and Ouano Avenue.

The project will also reinforce ALI’s masterplanned estates with at least 20 percent green and open spaces like the Cebu Business Park and the Cebu IT Park.

Aside from that, Gateway Central will also have an entry boulevard, an “experiential hub of social activity and cultural movement,” the Esplanade, a 20-meter-long open space that will act as a “major pedestrian corridor.”

Source: Apple Ta-as | Cebu Daily News

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