Employees of companies around and near Cebu IT Park will have something to look forward to as Ayala Land Inc. invests on a new P8-billion project in the area.
Under the name, Central Bloc, the mixed-use development will have office, retail and hotel components.
Central Bloc will feature a 5-level mall that can occupy about 500 shops, a supermarket, cinemas, 2 bpo towers, 12-storey Seda hotel and a 1-storey retail component connecting to The Walk.
As to why such development is being done in Cebu, Bernand Dy, Ayala land president and CEO said in his interviews that Cebu City was the first city where ALI began developing mixed-use projects outside Metro Manila.
Central Bloc is expected to open in the first quarter of 2018 while the Seda Hotel might be available by the third quarter of 2018.
The traffic woes that this development may bring will be remedied by opening two more access roads in the Banilad area. This is part of Cebu Holdings Inc.'s development agreement with the Cebu provincial government.