Cebu South Road Properties (SRP) is dubbed as the new business center in Cebu City where several townships will be built in the near future. The developments are already ongoing. So far, there are 3 major developers in the SRP, namely: Filinvest, SM, and SM-Ayala.
What do we expect from the South Road Properties in the coming years?
Township: Live, Play and Work. Like the Cebu Business Park and Cebu IT Park, the SRP is designed for mixed-use development where the offices and residential spaces are near leisure and recreational establishments. In real estate, this is called the "Live-Play-Work" lifestyle concept. In short, it is a city with everything.
Well-planned Urban Center. Unlike Cebu Business Park and Cebu IT Park, the South Road Properties is a reclamation area known as the South Reclamation Project. In SRP, urban planners can design a city from scratch: no buildings, no informal settlers, among others. In short, a master-planned business district with a new drainage system, new road system, and alike. It is a city within the city.
Outsourcing Hub. Like Cebu Business Park and Cebu IT Park, the SRP is designed for BPO companies where mixed-used communities are in high demand. Cebu is the second-largest outsourcing hub in the country and one of the most attractive BPO destinations in the world.
Tourism Hub. SRP is also designed to cater to the booming tourism industry in Cebu. Cebu Ocean Park is just one of the tourist (local and international) attractions. This complements the Cebu Safari and Adventure Park in Carmen town in the north and Whale Shark Watching in Oslob town in the south. Cebu was recently recognized as Asia’s 7th best island in The World’s Best Awards 2019 of New York-based magazine Travel + Leisure.
Connectivity. The Cebu-Cordova Link Expressway will connect to the South Road Properties. This is the 3rd bridge that connects Mactan Island to Cebu City and the future iconic tourist attractions in Cebu. This bridge will not only solve traffic congestion but also strengthen the road network system of Metro Cebu. Thus, easy access to Mactan-Cebu International Airport, Mactan Economic Zones 1 and 2, Cebu Light Industrial Park, Newtown, world-class hotels and resorts, among others.
SRP is also connected to Cebu International Port. "The Cebu International Port (CIP), the city’s main port, and all ports handled by Cebu Port Authority (CPA) in the province handled a total of 29.36 million metric tons (MMT) of cargoes in the first six months of 2019, up from 27.84 MMT in the same period in 2018," according to Sunstar reports. The "cargo traffic at the ports of Cebu, a key trading hub in Visayas, registered a 5.46 percent growth in the first half of 2019," the report added.
SM SEASIDE CITY
The SM Seaside City Cebu is the 3rd biggest mall in the country with an area of 430,000 sqm (SM Mega Mall with 474,000 sqm, SM North Edsa with 470,000 sqm) and the biggest mall in the Visayas and Mindanao. This iconic SM Seaside City is a landmark of where to find a good housing project in Cebu.
The SM Seaside City is also designed as a township. Residential and office spaces will soon be available in this development.
SM-AYALA CONSORTIUM
In July 2014, a consortium of Ayala Land-Cebu Holdings Inc. and SM Prime Holdings Inc. won the new landbank at SRP (lot number 8-B-1) with a winning bid of P10 billion. However, each group will develop the area independently with equal sharing of land. “We decided to collaborate rather than doing it on our own because we wanted to make sure that the area will be developed faster,” SM Prime chief finance officer Jeffrey Lim said. “In a way, we also managed the capital expenditures.”
However, former mayor Tomas Osmena opposed the transaction seeking the annulment due to violation of the City Ordinance 2332 in 2012, which requires protection of the SRP from “unlawful and unauthorised transactions and dealings,” and required the specific prior approval from the city council to sell, dispose, transfer or convey any of the properties in the SRP. In 2015, the Regional Trial Court affirmed the sale transaction. In May 2019, the Court of Appeals affirmed the legality of the sale of the property to the consortium for P16.7 billion. Bad politics can be a stumbling block in development. We are looking forward to the master-planned development of the ALI and SM Primes like the SM Seaside Arena and SMX Convention Center. To date, the Cebu City Council is still to approve the Land Development Permit (LDP) of the SM-Ayala Consortium. Under the leadership of Mike Rama, the resolution filed by councilor Philip Zafra will soon be approved.
Ayala Land-Cebu Holdings Inc. is the developer of two of Cebu’s prime business and lifestyle districts—Cebu Business Park and Cebu IT Park. Its master-planned estates are key locations for traditional office, business process outsourcing (BPO) office, and shopping center leasing.
CITI DI MARE
The biggest is the Citi di Mare by Filinvest. It is a 50-hectare coastal master-planned township as a lifestyle hub and prime business and residential district in Cebu City. "When Filinvest ventured into township building, we always had in mind convenience, connectivity, efficiency and creating more space for urban essentials. But we didn't want to add another congested city in the country so together with AECOM Singapore, we made sure to follow a mindful, future proof and sustainable way of building," says Filinvest Alabang Inc. vice president for townships Don Ubaldo.
IL CORSO
Il Corso is the biggest waterfront mall in Cebu City. It is a 10-hectare al fresco and waterfront mall which redefines lifestyle destination for shopping, dining, and recreation by the sea. In addition, there is a four-hectare Events Ground that attracts the biggest events like Lifedance and Color Manila Run. It is part of the 50-hectare master-planned coastal township of Citi di Mare by Filinvest Inc.
AMALFI
If you have the budget, we highly recommend the condo units in Amalfi in Citi di Mare.
Paradise in the City. Truly your own patch of paradise, Amalfi boasts of refreshing greens in expansive courtyards typifying the generous amenity of 70 percent open space and low density.
Sublime Pleasures. Indulge in relaxing amenities where fun moments are best shared with loved ones and friends.
• Lap Pool, Kiddie Pool and Lounge Pool with Sunken Deck • Courtyard • Clubhouse • Jogging Path • Bike Lane • Outdoor Recreational Park
TWO BEDROOMS UNIT
Price: P7.4M Reservation Fee: P50,000 Monthly Equity: P57,888/month for 12 months Home Loan: P46,099/month for 20 years Status: Ready for Occupancy (RFO) Units with balcony Area: 53.4 sqm
THREE BEDROOM UNIT
Price: P15.5M
Reservation Fee: P50,000
Monthly Equity: P 125,119/month for 12 months
Home Loan: P 226,294/month for 20 years
Status: Ready for Occupancy (RFO) Units with balcony
Area: 82.27 sqm
Virtual Tour
HOUSING PROJECTS NEAR SRP
Urban planners who truly understand their work will tell you that "a planned city" build from nothing, you look at its periphery because there is the real city where the people reside who are working in the planned city.
Jane Jacobs in "The Death and Life of Great American Cities" wrote: "Cities have the capability of providing something for everybody, only because, and only when, they are created by everybody.” In short, what makes a city a city -- there are many other factors -- is its people.
And so, look at the housing projects near the planned townships in the South Road Properties, either for personal use or for rental business.
Check out these housing projects:
ONE LEXINGTON Price: 4.2M Reservation Fee: 50,000 Monthly Equity: 24,083/month Home Loan: 24,083/month for 20 years
Check details.
SOUTH COVINA ESPERANZA
Price: 3.3M Reservation Fee: 30,000 Monthly Equity: 52,993/month Home Loan: 18,323/month for 20 years
Check details.
SOUTH COVINA LA VERDAD
Price: 5.2M (RFO Unit) Reservation Fee: 30,000 Monthly Equity: 168,583/month for 6 mos Home Loan: 28,657/month for 20 years
Check details.
ROSE PIKE
Price: 5M Reservation Fee: 50,000 Monthly Equity: 79,293/month for 12 mos Home Loan: 27,557/month for 20 years
Check details.
RETIREMENT HOMES
Check out this master-planned community in Minglanilla with scenic sea view and mountain view, lots of opens spaces, lush gardens and natural parks.
For more information about the topic or any inquiries about buying a property in Cebu, please contact us at 0917-811-3530 or send us an email at cebuhousefinder@yahoo.com. We help home buyers to find their dream house at the best price and location… for free!