Taft Property Venture Development Corp., the real estate arm of the Metro Gaisano Group, together with international property investment, management and development group Hongkong Land will transform Cebu into a global waterfront destination with the opening of the 1,500-square-meter show gallery for Mandani Bay, the multi-billion peso 20-hectare waterfront township property that will rise in Mandaue City.
The Mandani Bay Show Gallery located at F.E. Zuellig Avenue marks the first completed structure in the entire waterfront township. The developer’s first residential property, Mandani Bay Suites, is slated to finish by 2020 and the full-scale exhibition area is already open for interested buyers. The gallery showcases an experiential display of the scale models of the entire waterfront property as well as the showroom for the studios and units that are available for buyers.
The projected completion for the whole township project is in 15 years in anticipation that all factors of the development will go as planned. Eight phases will be implemented towards completion and 80 percent of the entire property will be for residential use. A total of 25 towers are expected to rise around it, with expansive podium blocks interconnected by footbridges that will connect residents to all the amenities within the property as well as the retail and activity spaces.
During the launch of the Show Gallery last May 19, the Gaisano family celebrated with the partner developers and all the people involved in the project together with Cebuanos who gathered at the exclusive event to witness the festivity auguring the rise of Mandani Bay.
“We strongly feel that the residential demand in Cebu will remain robust,” says Taft Properties chief operating officer Christopher Narciso. According to Narciso, the current developments and lifestyle advancements in Cebu and the development of the property is promising for the Cebuanos and the local economy.
“In the last couple of years, Cebu has been able to achieve higher GDP growth than the national average,” he explains. “Taft Properties, being the local developer here in the last five years, has experienced very strong demand in terms of residential development.”
He adds that given the fundamentals of the Cebu economics, the country, the potential tourism boom and all the infrastructure that’s being put up in Cebu province including the rise of Mandani Bay show a lot of promise.
The joint development venture of Hongkong Land with Taft Properties is by far the biggest property project of the international firm in the Philippines. In Manila, the developer currently has an existing partnership with Ayala Land Inc. for the development of Roxas Land Corp., soon to rise at the former location of Mandarin Hotel in Makati.