Ayalas, Aboitiz Group invest P26B in new Cebu CBD
Ayala Land Inc. and AboitizLand are shelling out P26 billion to build a 17.5 hectare business district and lifestyle destination in Mandaue City, Cebu.
The project called Gatewalk Central will include office buildings, residential options, parks, an Ayala mall, and other retail selections.
The Ayala Mall, which will feature Landmark department store as its anchor, will open in 2019.
Gatewalk Csntral will also have a wide mix of popular global and local brands, family dining, entertainment concepts, and BPO office space.
Development cost for the first phase of the project is estimated at P10 billion.
The project is estimated to generate 1,300 jobs during construction and 9,000 jobs once operating.