CEBU, Philippines — Priland Development Corporation will build a P2 billion commercial and office development project in partnership with Mandaue City government.
This two-tower project, which is targeted for completion in the next six years, is located on a 7,800 sqm lot along Mantawi Avenue.
Priland President Ramon Carlo Yap said this project is one of the many developments that will be unveiled by the company as the economy is making a stride moving towards calling COVID-19 into an endemic.
"As the economy slowly gets back on its feet, we join the momentum as we see the potential of Mandaue as a highly urbanized city. Many businesses are now shifting back to normal operations, thus, the need to provide spaces where big companies and startups alike can grow and flourish. We are grateful that the city government has chosen us as their partner for this venture," said Yap, during the ceremonial signing of the joint venture with Mandaue City led by Mayor Jonas Cortes, held yesterday at Oakridge Business Park.
Named Harbor Centre, it will have a PEZA registered and a Grade A Green Building.
In a report released by the Philippine Statistics Authority in December 2021, Services hold the largest share of Mandaue City's economy from 2018 to 2020.
Services, which cover wholesale and retail trade, information and communication, financial and insurance activities, and professional and business services, among others, comprised 62.2 percent of the city's economy.
Aligned with the city’s economic behavior, Harbor Centre will offer mid to high-end office spaces for regional headquarters of commercial brands, business process outsourcing companies, Philippine offshore gaming operators, multinational companies, and startups.
“Priland envisions Harbor Centre to be an economic and commercial hub that will help in the growth and progress of Mandaue City in the coming years," said Yap.
The joint venture is an addition to Priland's real estate footprint particularly in commercial and office spaces.
In 2021, Priland started construction of their vertical projects Paseo Grove and Vertex Central, both having a mix of commercial and residential spaces.
The entire development is expected to generate an estimate of 3,000 jobs, added Yap.
In his speech, Cortes said the City is pursuing an active stance in being a participatory government system, in order to propel growth in the pandemic-bruised economy.