Cebu's Bright Future Anchored with 4th Largest Mall in The World
BRIGHTEST FUTURE AWAITS “CEBOOM”, QUEEN CITY OF THE SOUTH
World’s 4th largest mall & airport upgrade will anchor change in Philippines 2nd largest population center
Cebu, PHILIPPINES (Mar. 14, 2013) – As Metro Cebu’s population increases steadily past 2 Million, Cebuanos can count on some major new developments that will shape the cityscape well past 2020. When SM Seaside City Cebu rises in the South Road Properties next year and joins the planned (eventual) expansion of Mactan’s Cebu International Airport, it will mark two of the most involved and celebrated advancements the Visayas have ever experienced.
For its part, SM Seaside City Cebu will be the crown jewel of the “Queen City of the South”. The 25% completed development will feature four levels in a distinct circular shape that will accommodate some 800 food and retail outlets including international brands. In addition, the mega-mall will feature a five-theater Cineplex and IMAX theater, SM Bowling and Amusement Center and an Ice Skating Rink. One of the most iconic features of the development will be the rise of a 150 meters observation tower offering panoramic views of Cebu. At a total space area of 409,000, SM Seaside City Cebu will rival the feel of SM’s Mall of Asia in Manila and is set to become the 4th largest mall in the world.
Cebu Holdings Inc. is also making a lasting commitment to the economic welfare of Cebu by adding onto its existing Ayala Center Cebu property. Phase 2-B Project will realize the master development plans of Ayala Center Cebu and The Terraces, costing upwards of P2 Billion. The new upscale wing is set to debut in late 2013 and will feature sophisticated, international luxury brands.
Another celebrated addition to Cebu’s retail and active lifestyle space will be Megaworld Corporation’s Mactan Newtown development in Lapu-Lapu City. Bringing its work-live-play-learn concept to Mactan Island, Mactan Newtown will feature a state-of-the-art movie theater, new retail and food options for the surrounding area and two large-scale township projects – One Pacific Residence & 8 Newtown Boulevard.
Can you imagine the world’s fastest circuit-racing cars zooming through the streets of Cebu at over 350 km/h? It is not a reality yet, but if former Cebu City mayor and current congressman Thomas Osmena has his way, Formula One or “F1” racing could become a reality in Cordova in future years. Osmena is keen on developing Cordova on Mactan Island as an official 3rd district of Cebu City. This proposal would come with grand plans of a third bridge connecting Mactan Island and Cebu City.
At the center of all the excitement and prospect of Cebu’s future is the much talked about expansion of Mactan-Cebu International Airport. The Philippine National Government will embark on a public-private partnership to construct a P5.8 Billion passenger terminal building. The stand-alone new terminal will be in addition to the existing terminal, which is also set to receive a hefty renovation/expansion. Bidding is currently underway and MCIA officials hope to break ground in 2014 for a vastly more convenient and efficient airport by 2016.
All of this rapid new change and development points to a continued boom in Cebu’s economic infrastructure. Already enjoying prominence as one of the top Future Cities of Asia, Cebu continues to prosper from a high demand in tourism that will only advance in the coming years. Real estate, shipping and foreign trade are all contributing to round out the picture of Cebu’s future – a very bright and exciting future indeed.