Cebu Business Park: Cebu's premier

district
By Tanya T. Lara | Updated February 27, 2011 - 12:00am
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The place to be: Cebu Business Park at the heart of Cebu is the souths premier business, commercial and
leisure district. It is a 50-hectare mixed-use development by Cebu Holdings Inc. and Ayala Land and declared a
special economic zone. CBP has dedicated 30 percent of its land area to open spaces, allowing for pocket
parks and breathing space between the buildings.
MANILA, Philippines - What started as a 50-hectare property in Cebu a few kilometers from the small
downtown shops and the citys ports, from a smattering of residential enclaves and commercial zones, is now
the Cebu Business Park (CBP), the countrys most dynamic and fastest-growing business, commercial and
residential district.
Developed by Cebu Holdings Inc. (CHI), an affiliate of Ayala Land, Cebu Business Park was declared by the
government as a special economic zone and it could very well be the model for how business and residential
districts should be developed in the countrys key cities.
This is where all the action is, so to speak, and there is a thin line dividing business and pleasure in CBP. This
is where power lunches are held, where dinner with the family are shared, where luxury and everyday items are
bought, where the Cebuano elite stroll about enjoying their day, where some of the countrys top companies are
located.
Cebuanos bring their visitors here to show them what their city is all about, how far they have come, how
business is thrivingand also just to take pleasure in shopping.

Water therapy: Fountains and ponds are prominent features in Ayala Center Cebu's The Terraces.

One cant help but compare CBP to the Makati Central Business District. With a population of two million (four
million for the entire province), Cebu City is home to old businesses and a new generation of entrepreneurial
people.
Just like Makati CBD where banks have located their headquarters, BPOs and offices are growing, malls and
commercial spaces are thriving, and premium residential communities are being built, Cebu Business Park is a
dynamic community that integrates the commercial, residential and leisure aspects of the city and the region.

Lifestyle Feature ( Article MRec ), pagematch: 1, sectionmatch:

In CBP, you can be working in your office and just cross the street to have lunch or a meeting in the regions
premier mall, Ayala Center Cebu. Home to a number of homegrown brands (with some of them having
successfully gone national, like Bos Coffee), luxury stores, and restaurants that offer cuisines from around the

world, Ayala Center Cebu is a favorite place for families to converge. While the malls architecture has some of
the well-loved features of Ayala Lands Greenbelt development, Ayala Center Cebu has its own charm,
particularly evident in The Terraces. You have Rustans and SSI stores here, plus the regions top chain
Gaisano, and shoppers favorite local and imported stores, and Cebuano brands.
The Cebu Business Park was launched in 1989 with Cebu Holdings offering 100 commercial lots for sale while
still retaining spaces for its own development. The very first building to rise was the Cebu Holdings Center, an
office condominium nine stories high, followed by Ayala Center Cebu, Mariott Hotel and City Sports Club.
Today, the Cebu Holdings Center is one of the shortest building in CBP as the three main avenues Cardinal
Rosales Avenue (formerly Visayas Avenue), Mindanao and Luzon Avenues are now flanked by office and
residential towers. Like the Ayala Land master plan for Makati CBD, CBP is dedicating 30 percent of the
property to open spaces. Property values in the business district have grown steadily in such a short time.
Cebu Holdings Inc. president Francis Monera says, Ayalas vision for the Cebu Business Park is an
integrated mixed-use community that creates value for its investors, in addition to being an excellent location
for business or a home . It was created at a time when there was yet no central business district south of
Manila, so the Cebu Business Park was a perfect fit for Cebu Citys vision of a high-growth zone. It
spearheaded Cebus investment offensive embodied in the Ceboom phenomenon and created opportunities
for uptown Cebu to become the new business and commercial district.

Avenues of power: Cebu Business Park has three main avenues - Cardinal Roces (formerly Visayas), Mindanao
and Luzon Avenues.

Bobby Dy, Residential Business Group Head, & Ayala Land Senior Vice President says, Cebu continues to be
a key growth area for our country. Part of Ayala Lands vision is to be a bigger part of the development in and
around Cebu with CBP at the forefront into a true regional hub for commerce, leisure and residence.
Enter Ayala Land Premier (ALP), the company behind luxury residences in Makati such as as The Residences
at Greenbelt and the upcoming Park Terraces, and One Serendra in Bonifacio Global City.
In Cebu, the address to be is 1016 Residences, located beside the City Sports Club and just across the
Marriott and Ayala Center Cebu. 1016 Residences is set to be the most prime residential address in Cebu, and
it will rise right at the CBP. In terms of quality and design, 1016 Residences will be the equal of prime
residential condominiums in the United States and Europe, and priced for the value-conscious Cebuano
lifestyle. Cebu has arrived, and 1016 Residences is there to validate it.
Land prices in CBP are growing exponentially. When CBP was launched 22 years ago, land price was valued
at P700 to P1,500 per square meter. Today, it is worth over P30,000 per square meter. Cebu Business Park is
the most valuable piece of real estate in the entire province. It is also the biggest parcel of land with such a
value.
1016 Residences is right in the middle of this prized real estate and with the Ayala Land Premier brand behind
it, nothing will beat this address.

Delightful design: A favorite part of Ayala Center Cebu is The Terraces, with over 80 dining options and an
open space in center that's used for events and strolling.

Yes, Cebuanos are ready for condo living, says Bobby Dy. Land prices are rising fast, and this means that
high quality living spaces have become more scarce. This in turn, means that living closer to the center of the
city will require developing vertically through condominiums. This is what Makati started experiencing in the
1960s, and it has already started happening in Cebu because of rapid development.
With 1016 Residences as the most prestigious address in Cebu, CBP is prepared to become a magnet for
value, says Dy. Both locals and expats will place greater value in CBP properties because this is what mixeduse developments are all about. The key to bringing this vision into fruition is expert master-planning by only
the top-tier designers, both local and international.
The economic upturn has changed the pace of the real estate industry in Cebu the past year, says Francis
Monera. As a developer, we also continue to look for opportunities to expand the business and to continue to
be relevant by evolving with the changing market needs.

CEBU BUSINESS PARK

Cebu Business Park is a 50-hectare masterplanned development in Cebu City, Cebu, Philippines.
Cebu Holdings, an affiliate of Ayala Land, is currently responsible for the development of Cebu
Business Park. Prior to the development of theIloilo Business Park, it is the single largest urban

development project in the Philippines outside of Metro Manila.[1]Integrating business, residential,

sports, recreation and leisure facilities, the centerpiece of the business park is the 9-hectare Ayala
Center Cebu shopping mall, which draws 60,000 shoppers daily.[2][1]

CONTENTS

History 1
Businesses 2
Residential 3
Gallery 4
See also 5
References 6
External links 7

HISTORY
In the late 1980s, the Cebu provincial government sold its 45-hectare property used as the Club
Filipino Golf Course to the Ayala Corporation.[3] The development features for the Cebu Business
Park were incorporated into the 1990 zoning ordinance of Cebu City. Land development work on the
business park was completed in 1992.[3]

BUSINESSES
As one of Cebu City's premier business and commercial district, Cebu Business Park houses
several companies ranging from business process outsourcing to industries. Among them are Innove
Communications, Vivant, Taft Property, SGV & Co., Joaquin Cunanan &
Co./PricewaterhouseCoopers, Regus, Jinisys Software, Taiheiyo Cement and Cathay Pacific. The
business park is also home to local and foreign banking and financial institutions such
as HSBC, Citibank, Chinatrust Bank,BDO, Metrobank, UCPB, RCBC, Security
Bank, PSBank, Chinabank, Exportbank, Asia United Bank.[4]

RESIDENTIAL
Cebu Business Park hosts residential areas such as Ayala Land developments mostly within the
immediate vicinity of Ayala Center Cebu. 1016 Residences, a 27-story condominium building, [5] offers
109 exclusive two to three-bedroom units. There are also limited edition penthouse units with price
ranging from 10 million to 45 million. The development features landscaped gardens, a kiddie
play area, lobby lounge, roof deck and a sports facility.[6] There is also Park Point Residences, a 38story condominium building offering 255 one- and two-bedroom units to three-bedroom penthouse
units.[7][8] Alongside the two developments is the more recent The Alcoves, another luxury
condominium spanning two residential blocks and scaling up to 37 stories featuring one- to three-

unit bedrooms.[9] Other developments include 21-story Sedona Parc[10] and three-towered Solinea,
[11]
residential projects by Alveo Land,[12] and a subsidiary of Ayala Land.

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., Santiago Land Development, the real estate arm of the Bank of the
Philippine Islands, First Metro Investment Corporation, PCD Nominee Corp. and the public.