November 10, 2017 – Ayala Land, Inc. (ALI) and Cebu Holdings, Inc. (CHI) in partnership with one of the most established Cebu real estate developers, Taft Properties, Inc. joined forces to break ground for its 14 hectare leisure development, Seagrove, in Punta Engaňo, Lapu-Lapu City—a seafront resort and commercial development unlike Cebu has seen before.
Fronting a 40 hectare Mangrove forest, Seagrove offers a wealth of natural attractions providing new adventures to tourists, locals, and beachgoers who frequent the island.
In the tradition of Ayala Land’s integrated, mixed-use developments, Seagrove is envisioned to be the country’s next world-class leisure estate featuring diverse product offerings. It will have a mix of several hotels with Holiday Inn Resort as its main anchor, together with water-side retail, entertainment and outdoor recreation components.
Cebu’s first coastal boardwalk retail, a central network of lagoons, an expansive mangrove forest and a nature inspired pedestrian corridor will also anchor the estate. Seagrove will carry the first-of-its kind resort and retail features, fresh dining concepts, and a full range of experiences and services for travelers and locals.
“We are very excited about this partnership and this project. This will be our 24th estate to date, adding to our strong track record of building sustainable communities. Seagrove brings various attractions that will also help boost Cebu’s tourism economy even further and we foresee it being a main tourist attraction for generations to come.” shared Meean Dy, Ayala Land SVP, Group Head of Strategic Land Bank Management and President of the joint venture company Taft Punta Engaňo Properties, Inc. (TPEPI).
The initial phase of the project, which will consist of the boardwalk, support restaurants and shops, a portion of the lagoon, an events ground and the pedestrian corridor is planned to open in 2020.
Also in the first phase, is the entry of global hotel chain, Holiday Inn which will operate their very first resort hotel in the country under their Holiday Inn Resort brand. With nearly 1,200 hotels worldwide today, the Holiday Inn brand is the largest and most recognized hotel brand in the world and will be a welcomed attraction to Seagrove.
“We believe in introducing pioneering concepts and that is why we are very excited for Seagrove. We are introducing something the market has not seen before and it will complement the various existing facilities in Mactan, enriching the experiencing there and affirming Cebu as one of the main leisure centers of the country” shared Edward Gaisano, Chairman and President of VICSAL Development Corp and Director of Taft Punta Engaňo Properties, Inc.
Located within the resort area of Punta Engaňo Road, Lapu-Lapu City, Seagrove is minutes away from the Mactan-Cebu International airport. Those from Metro Cebu can access Seagrove through the Osmena bridge or Marcelo Fernan bridge.
The initial investment for the first phase of the project is P 4.0 B and is expected to escalate to P 35.0 B upon the project’s full completion. The project is also expected to generate 13,000 jobs for the local economy upon full development.