Real estate conglomerate Ayala Land Inc. (ALI) has integrated its two major developments in Cebu — the Cebu Business Park (CBP) and the Cebu IT Park (formerly the Asiatown IT Park) — into one brand, now known as the Cebu Park District.
ALI President and chairman of the Cebu Holdings Inc. Antonino Aquino said the new brand aims to further promote more business and information technology (IT) developments in the area, thus uplifting the image of Cebu’s twin business districts as a “complete destination in itself, complementing each other as a premier district of business, leisure and living in the region.”
During the recently held launching of the Cebu Park District, Aquino assured stakeholders that the new brand will reinforce ALI’s footing in the real estate industry in Southern Philippines.
Together, the CBP and Cebu IT Park cover some 74 hectares.
He likened the CBP and the Cebu IT Park to that of Makati and Bonifacio Global City, which have similar integrated developments. He exuded optimism that the company can replicate the success of their developments in Manila to their existing projects in Cebu.
“Cebu Park District is a testimony to the company’s proven track record of building integrated cities that offer diversity, vibrancy, and dynamism. Already recognized as the city’s leading destination for shopping, dining, and recreation, on top of being a thriving business hub, efforts are now underway to integrate CBP with Cebu IT Park,” Aquino said.
The Cebu Park District, which is the home of many IT-related, commercial and residential developments, is envisioned to be an integrated urban community, a mixed-use and integrated living concept where the live-work-play equity comes to life.
ALI and Cebu Holdings Inc. have invested over P10 billion in the last 22 years. Aquino said the company will be investing over P10 billion more for new developments in Cebu over the next five years.
Six buildings are under construction and two more developments are expected to begin within the year at CBP. Cebu IT Park, on the other hand, continues to see rapid development with seven buildings under construction.
According to ALI, CBP and Cebu IT Park today compose the biggest twin master-planned developments in Southern Philippines and are both certified as business and IT economic zones by the Philippine Economic Zone Authority.
ALI believes with the accelerated build-up, Cebu Park District will be able to provide more opportunities for employment and entrepreneurship. CBP and Cebu IT Park have over 35,000 workers, a figure that’s expected to grow by 20 percent next year.
Published on Manila Bulletin online on Dec 2 2011.