Metro Gaisano’s real-estate arm, Taft Properties, bared plans to build a 20-hectare waterfront township in Cebu, in partnership with Hongkong Land, a regional real-estate developer and investment firm.
“This partnership will help jump-start Mandaue City’s transformation into a dynamic lifestyle hub,” said Jack Gaisano, chairman of Taft Properties.
“With Taft Properties’s local
expertise and Hongkong Land’s international experience, this alliance will bring in new standards in design and construction that will keep and preserve the local culture and tastes,” Gaisano added.
“A portion of the development will be allotted for open spaces, such as a central linear park, al-fresco establishments and a waterfront promenade. Culturally sensitive commercial and recreational development will bring economic and civic vitality to the area,” Tan Wee Hsien, Hongkong Land head of residential property for South Asia, said in the same statement.
Taft Properties is part of Vicsal Development Corp. of the Gaisano group, which also operates the
Metro and Pacific Mall chain.
Hongkong Land is one of Asia’s leading property investment, management and development groups.
The firm owns and manages almost 800,000 square meters of prime office and luxury retail properties in key Asian cities, principally in Hong Kong and Singapore.
Hongkong Land is also developing a number of residential projects in cities across Greater China and in Southeast Asia.
The company’s assets and investments are managed from Hong Kong by Hongkong Land Ltd. Hongkong Land is a member of the Jardine Matheson Group.