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Cebu Holdings to invest in more estate development, leasing portfolio in next five years

Tuesday April 14, 2020

Cebu Holdings Inc. is planning to invest in additional real estate development and increase its leasing portfolio in the next five years. CHI president Aniceto Bisnar Jr. made the announcement during the annual stockholders meeting held virtually for the first time Tuesday morning, April 14, 2020. “CHI will continue to invest more on properties and leasing projects, a strategy that has contributed massively to the rise in the company’s consolidated assets,” Bisnar said. The company’s projects in the pipeline will bring in an additional 77,000 square meters of office and almost 63,000 square meters of retail space. This will bring CHI’s portfolio up to over 473,000 square meters of total leasable space in the next five years. CHI’s projects in key areas in Metro Cebu are also under construction. These include Gatewalk Central with Aboitizland in Mandaue City, Seagrove with Taft Properties in Lapu-Lapu City, and the 26-hectare development at the South Road Properties in partnership with SM Prime Holdings, Inc. “These new estates are in key locations in Metro Cebu to catalyze inclusive growth with groundbreaking developments. As we have done in the past 30 years, we aim to transform land and help shape Cebu’s economic and social landscapes to make a life-changing impact on the community,” Bisnar said. Bisnar also highlighted the CHI gains in its revenue and net income for the year 2019. The company’s 2019 revenue reached P4.8 billion, 29 percent higher than the previous year. More than half of revenues came from its leasing portfolio, which is composed of malls and office buildings. On the other hand, its net income by yearend 2019 nearly doubled at 93 percent from P857 million in 2018 to P1.7 billion, the first time its net income breached the billion-peso level. CHI, an Ayala Land subsidiary, is the developer of Cebu Business Park and Cebu IT Park. Its projects include Ayala Center Cebu and the newly-opened AyalaMalls Central Bloc, as well as the eBloc Towers which house major BPO and IT investors in Cebu. In 2019, CHI spent P1.62 billion on capital expenditures to develop new projects and enhance activities of its existing projects. Its projects include the 45,000-square meter AyalaMalls Central Bloc, launched in December of 2019. On top of the mall is the 214-room Seda Central Bloc Cebu, which soft opened last February. Two BPO office buildings with a total of 72,000 square meters of GLA will also be located within the two-hectare stacked superblock. CHI’s ongoing construction projects include the co-living spaces called The Flats at Cebu Business Park and Cebu IT Park. Upon completion in 2022, these will offer 852 affordable co-living units for lease at strategic locations within these major business districts. On the other hand, CHI has implemented measures to address the situation under the enhanced community quarantine. These include continued wages for the company’s employees, rent relief for retail merchants affected by the malls’ temporary closure, and enhanced security and sanitation within its properties. CHI is also tapping seamstresses from a neighboring barangay to make PPEs to donate to local hospitals, in coordination with the group, #SOSCebu. The seed money for this initiative comes from voluntary donations from CHI employees. “We are confident that we have systems in place to quickly respond to these changes, and strong financial fundamentals as well to sustain the business through this extended disruption. We remain hopeful that the situation will normalize by 2021, and we are ready to get back in stride as soon as possible,” Bisnar said. “We have before us the opportunity not only for growth, but also to make renewal possible and to offer hope, for all of the communities we serve,” he added. /rcg (CEBU DAILY NEWS)

Seda Central Bloc Cebu opens

Monday March 9, 2020

Ayala Land’s homegrown hotel brand Seda opened its second property in Cebu City that is expected to cater to the growing demand of business and travelers in Cebu. The Seda Central Bloc Cebu, a 214-room hotel, is a retail, office, and residential tower  located at the Ayala Malls Central Bloc right at the heart of the Cebu IT Park. According to Seda’s senior group manager Andrea Mastellon, the new hotel will cater to the business process management (BPM) managers, including young professionals who will be staying long-term, and the broader market of leisure travelers in the city. Seda Central Bloc’s serviced residences will cater to the BPM, while its hotel rooms are targeted for the leisure travelers. Units inside the Seda Central Bloc Cebu will have an area of 28 square meters, while its studio to three-bedroom units have an area of 30 square meters to 90 square meters. (CEBU DAILY NEWS)  

Ayala Central Bloc opens today

Friday December 6, 2019

Ayala Malls Central Bloc opens today with majority of its tenants to welcome the Christmas shopping season. The five-storey shopping mall, located at the heart of Cebu IT Park in Lahug is Ayala’s fifth regional mall in Visayas and Mindanao, and the second for Cebu. The mall is integrated within a building with a hotel (Seda Hotel) and spaces ready for BPO offices. It features four specialty zones: “Food Choices”, “Trading Bloc”, “Wellness”, and “Service Avenue”, a Chapel. It has four cinemas, an indoor and outdoor activity center, and the outdoor “Corte Garden”, and a Trading Bloc which houses start-up and homegrown retailers, and other fresh and new shopping experience features. “There’s a lot of things to expect in our new mall. We have a lot of specialty stores opening, as well as homegrown brands. We are targeting a different market here so the tenant mix is carefully chosen,” said Ayala Malls Visayas and Mindanao operations head Clavel Tongco in an earlier interview. Because the mall is catering to different market set-up, its operation schedule is from 11 in the morning to 11 in the evening. The Central Bloc development will have 45,000 square meters of retail gross leasable area (GLA) and an office GLA of 72,000 sq.m. Central Bloc is developed by Central Bloc Developers, Inc., which will also give rise to two new BPO office towers within the area. (THE FREEMAN)

Ayala Malls Central Bloc opens Friday

Thursday December 5, 2019

A new shopping experience will be available as the P4.6-billion Ayala Malls Central Bloc opens its doors on Friday, December 6. Cebu’s newest shopping mall is part of the Ayala Central Bloc, the 3-hectare superblock that also includes a hotel and two office buildings for business process outsourcing companies. It is owned by the Central Block Developers Inc., which is jointly owned by Cebu Holdings Inc. (55 percent) and Ayala Land Inc. (45 percent). The mall, which has a gross area of 45,000 square meters, has four levels of shops that feature both local and foreign brands. The total investment for the entire development reached P9.5 billion. What makes it different from other shopping malls is the Trading Bloc, which provides physical space for online sellers. Janra Montilla, marketing associate manager for AyalaLand Malls Inc., said that the Trading Bloc, located at the mall’s second level, would offer spaces to online sellers. The Trading Bloc would provide online and startup sellers the opportunity to market their products at a physical store, Montilla said. About 70 merchants have contracted to occupy the bazaar-like spaces of minimum 12-square-meter space for one year. The mall has around 300 tenants, 100 of these located at carts and kiosks, Montilla said. The shops on the ground floor will feature comfortable and stylish fashion options. At the second floor, shoppers can find more fashion options as well as specialty shops. The third floor shops offer products for basic needs and for hobbies. The shops at the fourth floor would showcase the latest trends in digital world. Two major mobile phone brands would open their first concept store in Cebu, said Montilla. Food Choices is also located at the 4th level. The mall has four cinemas, one of which has reclining chairs, located at the fifth level. Mall hours will be from 11 a.m. to 11 p.m. but food outlets at the periphery has the option to open 24 hours. Meanwhile, Seda Hotel would open January next year.  One of the two office towers is scheduled to open this month or January 2020 while the second office tower is projected to open by the second or third quarter in 2020. (CEBU DAILY NEWS)

Cebu Holdings addresses market need with shared living spaces–The Flats

Friday October 4, 2019

The developer of Cebu Business Park and Cebu I.T. Park, Cebu Holdings Inc. (CHI), has started the construction of its latest market-driven product, The Flats, to address the growing demand for shared living spaces in the city. The project, which caters to working professionals and the millennial consumer segment, will open in Cebu Business Park and Cebu I.T. Park in 2021. The Flats serves those who want to live closer to where they work, avoiding long commutes to free up more time to recharge and enjoy life which is a growing concern for many Cebuanos. The Flats in Cebu I.T Park will rise along JM Del Mar St. and will have 455 units. It will be a short walk away from Central Bloc, the latest Ayala Mall which will be opening in the last quarter of this year. The Flats in Cebu Business Park, on the other hand, is located along Mactan Road and will have 397 units. Both projects offer well designed co-living units that can accommodate a maximum of four tenants. Each unit offers innovative storage solutions and a private bathroom giving tenants the privacy they need while living with others. Support areas for basic retail amenities such as laundry shops and convenience stores will also be made available. The Flats was initially launched by CHI parent company Ayala Land in the Makati Central Business District and Bonifacio Global City. Committed to building sustainable communities, the Flats is a purposeful approach to address the growing needs of the new generation. It is now envisioned to complement the diverse residential and commercial developments in the two most progressive districts of Cebu.  

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