Mandani Bay to turn over 1,200 units by April

CEBU, Philippines — Seaside township development Mandani Bay is set to turn over a total of 1,200 residential units by April this year.

This will start to create a community within the 20-hectare development, which will in turn determine what future developments the company will pursue in the masterplanned project in the next few years, said HT Land Inc., project director Gilbert Ang in an interview.

These over a thousand residential units are located in the towers being built within the township, Ang said.

To assure security, Mandani Bay owners are not allowed to offer their units for AirBnB purposes, or short term lease.

About 80 percent of the condominium owners are local, 90 percent of whom are Cebuanos.

Last year Mandani Bay announced its move to respond to the current pulse of the Cebu market, specifically in providing office spaces that offer fiscal incentives from Philippine Economic Zone Authority (PEZA).

Besides the residential and condotel offerings, Ang said HT Land is also accelerating and increasing its inventory for office spaces.

The project’s 25-story Tower 4 shall largely caters to office tenants.

Mandani Bay is a 20-hectare township developed by Hongkong Land and Gaisano-led Taft Properties at the North Reclamation Area in Mandaue City.

  Hongkong Land is a listed leading property investment, management and develop group, which also has a number of mixed-use projects under development in cities across Greater China and Southeast Asia, including a luxury retail center at Wangfujing in Beijing.

Taft Properties on the other hand, shares the strength and stability of Metro Gaisano retail chain, its sister company, both of which form part of Vicsal Development Corporation.