SEAGROVE, a P35-billion joint- venture leisure project of Ayala Land Inc. (ALI) and the Metro Gaisano Group’s Taft Properties Inc., was unveiled last Friday in Mactan Island.
The project is expected to generate 13,000 jobs.
In an official project-unveiling ceremony held at the Shangri-La’s Mactan Resort and Spa, the joint- venture project of the two conglomerates, which gave birth to Taft Punta Engaño Properties Inc. (TPEPI), commited to support the tourism industry in Lapu-Lapu City in Mactan.
TPEPI President Meean Dy said the development will be the first modern ecotourism destination in Cebu, setting its 40-hectare mangrove forest as its ecotourism flagship showcase.
The joint venture will initially spend about P4 billion in the next three years to complete the first phase of the coastal-leisure estate project. This will host the first boardwalk retail, Holiday Inn Hotel, a lagoon swimming pool and other amenities, such as more boardwalks and a pedestrian spine.
Cebu Holdings Inc. (CHI) President Aniceto Bisnar Jr. said the first phase of the development alone would already provide at least 2,000 jobs. This particular phase is set to be completed by 2020.
“We believe in introducing pioneering concepts and that is why we are very excited for Seagrove. We are introducing something the market has not seen before and it will complement the various existing facilities in Mactan,” said Edward Gaisano, chairman and president of Vicsal Development Corp. and director of TPEPI.
Seagrove will be the fourth estate developed by ALI through CHI in Cebu. It joins the Cebu Business Park, Cebu IT Park and the Gatewalk Central—a project currently ongoing in partnership with Aboitiz Land Inc. in Subangdaku, Mandaue City.
Seagrove is envisioned to bring various attractions that will bolster Cebu’s tourism economy even further.