Cebu Holdings, Inc. is a leading full-line property developer in Cebu City, Philippines engaged in real estate development, sale of residential and office condominium units, sports club shares, and lease of commercial spaces.


Our Company

CHI is a leading full-line property developer with headquarters at Cebu Business Park, Cebu City.

The company is engaged in real estate development, including sale of residential land, office units, sports club shares, and lease of commercial spaces.

For 29 years, our business has allowed us to transform 143 hectares of land into integrated, masterplanned and mixed-use eco-zones and business parks, launch 4,567 residential lots and condo units, and lease 137,121 square meters of retail and 105,394 square meters of office spaces.

A more comprehensive discussion of our corporate governance practices, including our ownership structure, are found on pages 70 to 111 and 15, 86 and 119 of this report.


Our Businesses

Estate Development and Management

  • Cebu Business Park
  • Cebu I.T. Park
  • Gatewalk Central
  • Seagrove
  • SRP Development


Residential Subdivision and Condo Sales

Ayala Land Premier

  • Amara
  • 1016 Residences
  • Park Point Residences
  • The Alcoves


  • Solinea Towers 1, 2 and 3
  • Sedona Parc


  • Avida Towers Cebu 1 and 2


  • Amaia Steps Mandaue


Office Condominium Sales

  • BPI Cebu Corporate Center (via affiliate Solinea, Inc.)


Office Space Leasing

  • eBloc Towers 1, 2, 3, 4
  • Ayala Center Cebu Tower
  • Tech Tower
  • Central Bloc Towers (under construction)



  • City Sports Club Cebu
  • Cebu City Marriott Hotel (via affiliate Cebu Insular Hotel Co., Inc.)
  • Seda Hotel at Central Bloc (under construction)


Retail Space / Land Leasing

  • Ayala Center Cebu
  • The Walk
  • eBloc Towers Retail
  • Garden Bloc
  • Garden Row
  • Central Bloc (under construction)
  • Gatewalk Central Mall


Company History

In 1988, the provincial government of Cebu offered to sell via public bidding a 44.6 hectare piece of prime land previously leased to Club Filipino. The proceeds from the auction would be used as a counterpart funding by the provincial government for infrastructure and development projects. The floor price for the property was pegged at P220 million or approximately P493 per square meter.

A consortium of investors consisting of Ayala Land, Inc., Bank of the Philippine Islands, Kuok Philippines Properties, Inc., A. Soriano Corporation and the Philippine Long Term Equity Fund submitted the highest bid of P551 million or approximately P1,235 per square meter for the property.

Soon after winning the bid, Cebu Holdings, Inc. (CHI) was formed to act as the holding company of the consortium. On December 9, 1988, CHI was registered with the Securities and Exchange Commission with the primary purpose of engaging in the real estate business.

In 1990, CHI increased its total land holdings to approximately 50 hectares with the acquisition of a 5-hectare property adjacent to the Club Filipino property.

Pursuant to project management agreement dated January 10, 1989, CHI appointed Ayala Land, Inc. (ALI) as project manager for the development of the property of CHI in Cebu City of approximately 50 hectares, for a fee based on certain percentage of gross proceeds or revenues derived from the sale or lease of any portion of the developed property. The agreement provides that Ayala Land, Inc. shall undertake, among other things, the necessary functions and activities to develop the property into a multi-use complex consisting of office areas, shopping and entertainment centers, hotels and high density residential areas.

In its development of the Cebu Business Park, the Company transformed raw land into a masterplanned fully-integrated community by constructing roads and facilities required for the installation of water, drainage, sewerage, telecommunications and power systems. Certain areas in Cebu Business Park are reserved as open spaces for parks and common uses. In addition, the Company imposes certain restrictions on the construction of buildings on office lots it sells to ensure that the general character and value that it seeks to create for the property’s development are maintained.

The Company was listed in the Manila and Makati Stock Exchanges on February 14, 1994. The offering made available to the public 222.2 million shares of CHI stock.

In July 1995, after the terms and conditions of the tender offer were submitted for ratification of the stockholders, CHI acquired 76.26 percent of the outstanding shares of stock of Cebu Property Ventures and Development Corporation (CPVDC) for cash (P1.90 for every CPVDC share) and an exchange of the Company’s shares of stock (one CHI share for every 1.69 CPVDC shares) pursuant to the tender offer. About 51.5 percent of the tendered CPVDC shares was paid in cash. This was financed through a P700M long-term loan. A total of 201,957,581 shares were issued by the Company to CPVDC stockholders who opted for the share tender.

The tender offer enabled CHI to intensify its development efforts in Cebu while availing itself of CPVDC’s prime land resources. With the developments mentioned above, the Company’s ownership structure has also undergone changes. At present, CHI’s ownership profile include shares of Ayala Land, Inc., PCD Nominee Corp. and the public.


Ownership Structure

CHI is a company engaged in real property ownership, development, marketing and management.

The company was registered with the SEC on December 9, 1988, with an authorized capitalization of P1.0 billion. As of December 31, 2017, its authorized capital stock is at P 3.0 billion.

Mission and Vision Statement

We shall be the premier real estate company in the region, creating and enhancing integrated, masterplanned, and sustainable mixed-use developments through a customer-focused and empowered team of professionals.

We ensure the trust and confidence of our stakeholders with sustainable growth while improving the quality of life of the communities we serve with passion and integrity.

Core Values

• Focus on Customer
• Bias for Results
• Entrepreneurial Drive
• Teamwork
• Concern for People
• Empowerment of People
• Pursuit of Excellence
• Love of God
• Responsibility to the Community
• Enhancement of Quality of Life


Group Corporate Structure

Group Corporate Structure
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Company’s Organizational Chart

Organizational Structure
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Membership in Associations

Business and Management

Ayala Business Club Cebu, Inc.
Cebu Business Park and Cebu I.T. Park Neighboring Barangays Alliance
Cebu Business Park Association, Inc.
Cebu Chamber of Commerce and Industry
Chamber of Real Estate and Builders’ Association, Inc.
Geoplan Cebu Foundation, Inc.
International Council of Shopping Centers
Management Association of the Philippines
Philippine Quality and Productivity Movement – Visayas
Philippine Retailers Association
Philippine Chamber of Commerce and Industry
Financial Executives Institute of Cebu, Inc.

Sustainability Reporting

Global Reporting Initiative GOLD Community

Environmental and Ecosystems Conservation

Philippine Business for the Environment
Cebu Uniting for Sustainable Water Foundation


Joint Message from the Chairman and the President

Cebu Holdings, Inc. sustained its growth path in 2017 as we focused on the continuous expansion and enhancement of our mixed-use estates in key cities in Metro Cebu. Through strategic partnerships, we have been able to move faster to build new economic districts that will extend the gains of property development to more communities.

Our company has expanded its footprint across the province of Cebu and is now actively managing and developing four estates. Aside from Cebu Business Park and Cebu I.T. Park in Cebu City, we are now in Gatewalk Central in Mandaue City and Seagrove in Lapu-Lapu City. We are also present in Liloan through our seaside residential community, Amara.

Creating and constantly evolving our mixed-use estates is our way of delivering on our commitment to foster economic growth and create livelihood opportunities for Cebuanos. We take pride in knowing that over 91,000 jobs were created by over 200 local and foreign companies within Cebu Business Park and Cebu I.T. Park. In 2017, we also noted over 3,000 small business providing ancillary services such as food, transportation, and accommodation around the estates.

In the same year, we grew our net income by 11 percent to P753.4?million and revenues by 14 percent?to P3.1 billion. Our performance was driven by solid contributions from our leasing business, which accounts for 69 percent of the total revenue.


Cebu Business Park and Cebu I.T. Park

Property development and commercial leasing remained robust as we enhance our existing estates, Cebu Business Park and Cebu I.T. Park.

Ayala Center Cebu, located at the?heart of Cebu Business Park, continued to enjoy high occupancy rate of 97 percent, as well as increasing merchant sales. The mall was also recognized as Shopping Center of the Year – Large Category in 2017 by the Department of Trade and Industry and the Philippine Retailers Association for its initiatives to constantly improve the retail experience.

We completed Tech Tower which added 16,214 square meters to our total leasing portfolio and finished the BPI Cebu Corporate Center—an iconic project in partnership with Alveo Land that offers office units for sale.

Property sales also improved as we sold units of Ayala Land Premier’s 1016 Residences and Park Point Residences, as well as Alveo’s Sedona Parc also in Cebu Business Park.

In 2018, Cebu Business Park will be home to the first Seda Hotel in Cebu. The homegrown hotel brand by Ayala Land will have 301 rooms and will become a central convergence place for business travelers.

Meanwhile at Cebu I.T. Park, we are currently constructing Central Bloc,?a stacked two-hectare development which will showcase a regional mall offering close to 50,000 square meters of retail space, two more o ce towers and another 214-room Seda Hotel.


Gatewalk Central

The construction of Gatewalk Central in Subangdaku, Mandaue, is on full speed and on target, as we expect this mixed-use estate to open its first phase in 2021. The 18-hectare mixed-use estate will offer a dynamic and highly-energized lifestyle experience with modern residential and commercial components. It will feature a regional mall which will add a total gross leasable area of 115,000 square meters to our retail portfolio upon its completion.



The year 2017 was highlighted by the launch of our newest mixed-use estate in Punta Engaño, Lapu-Lapu City. Located near Cebu’s airport and seaports, the 14-hectare Seagrove?is expected to become an exciting bayside, eco-fun destination, adding a new dimension to the leisure and tourism industry in Cebu.

Its initial phase includes the development of the first Holiday Inn Resort in the Philippines, as well as?a boardwalk promenade with retail and entertainment concepts. We?will be pouring in about P4 billion?in investment for land cost and development, as well as the hotel and retail components during this period.


Sustainability and Innovation

As we accomplish our goals as a company, it is important that the values of innovation and sustainability are well-established in our operations.

Our mixed-use estates strive to become models for sustainable development and introduce innovations in line with the four?focus areas of Ayala Land, namely Site Resilience, Pedestrian Mobility and Transit Connectivity, Eco-efficiency and Local Economic Development.

We plan and design our developments to make it more resilient to changes in the environment by creating a healthy balance of green open spaces and built-up areas.

As we prepare for our bayside development, Seagrove, in Lapu-Lapu, we initiated environment protection activities such as coastal cleanups with employees and coral reef studies to determine possible areas for nursery and rehabilitation sites in the area.?We likewise collected wildings and seedlings of existing native and endemic beach forest tree species which we will propagate and use for future landscaping requirements.

We also introduced innovations?that push for pedestrian mobility?and transit connectivity, such as the completion of new bus stops within Cebu Business Park and Cebu I.T. Park, serving passengers of a scheduled bus service that travels to Northern and Southern Cebu.

In the management of our estates,?we constantly strive for efficient resource use and effective waste management. In 2017, we invested in various improvements including a new wastewater treatment facility to serve the growing community in Cebu I.T. Park.

Our efforts in line with sustainability were featured in a publication of?the United Nations Development Programme and the Philippine Business for the Environment. The book called Transformational Business cites Cebu Business Park as the top example of how large-scale infrastructure in provincial capitals can bring inclusive economic growth while driving business forward. According to the book, “CHI has poured in over P55 billion in land and infrastructure investments to grow and expand Cebu Business Park and Cebu I.T. Park—now two of the leading economic hubs in the south.”

It also cites our shared-value program, Agbayay para sa Kalikupan, as a “sustainable solid waste management model that bridges waste management with entrepreneurship, and CSR with inclusive development.”


Committed to Nation Building

As a result of meaningful collaborations, CHI has lived up to its promise as a catalyst for progress in the Visayas, driven mainly by local talent. Through our mixed-use estates, we concretize our commitment to nation- building and sustainable development.

As we celebrate our 30th anniversary in 2018, we are inspired to create communities that will contribute to?the development and future progress of Cebu and the Visayan region. We are setting up the platform to establish new operational frameworks that will increase our ability to respond to an ever-changing market, starting with the company’s planned merger with its subsidiary, Cebu Property Ventures and Development Corp. We are optimistic that with these advancements, Cebu Holdings is well-positioned for growth to deliver better value to you, our shareholders.


Where We Operate

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2017 Sustainability Performance Highlights

2018 Sustainability Performance Hightlights

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CHI’s Value Creation

As a real estate company creating and enhancing integrated, masterplanned, and sustainable mixed-use developments, we ensure that we continue to create value for all our stakeholders and the society.

Our Capitals

In order for us to deliver value, we depend and draw from various capitals. We recognize that we may have negative impacts on these capitals. It is thus in our best interest to minimize and manage such negative effects, while enhancing the value of our capitals, through our value-creation processes.

These capitals are:

  • Natural capital – the environmental resources that we use and which all other capitals draw from;
  • Intellectual capital – our knowledge base and our brand;
  • Human capital – our employees, their skills, and competencies;
  • Social and relationship capital – our relationships with society and our stakeholders;
  • Manufactured capital – our man-made assets; and
  • Financial capital – the funds that we use to build and provide services.



Because of the outputs stemming from our business model, we contribute to an improved quality of life in society. By imputing investments with our focus areas in mind, we create sustainable and masterplanned estates. These attract investors and locators, both local and foreign, which impute new money into our economy. By locating in our developments, these businesses thrive through foot traffic, further giving the local community the opportunity to develop ancillary businesses – leading to an improved quality of life for all.


Our Key Activities, Risks and Outputs

Drawing from our capitals, we do three key activities to create value. These are (a) strategic land management, (b) leasing for malls and offices, and (c) investment and equity holdings.

Through strategic land management, we ensure that we have enough land to build on for the future. To ensure site resilience and reduce risks against disasters and other unforeseen site conditions, we have a strict due diligence process in place. We also build good relationships with private land owners and local government to ensure that we comply with regulations. Because of this, we have developed 143 hectares of masterplanned estates with 14 projects under construction.

We lease our malls and offices to key locators that enhance economic development and job creation of the localities where we are. We currently have 66 locators with 91,805 workforce. We employ several management systems to ensure product and service quality, and reduce security and safety risks that our stakeholders, especially our customers, are exposed to. We also engage our merchants, build and sustain good relationships with them to increase our ability to attract and retain them, and influence them on our values and sustainability principles and practices. As a result, we decreased electricity intensity by 10.95 percent and water intensity by 11.74 percent from our malls and offices.

As a holding company, we constantly engage with our operating companies and monitor their performance. Our operating companies have historically reflected strong investment portfolios year-on-year.

CBP Sustainability Performance
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