NEWBIE property developer ABC Prime is developing a three-tower mixed-use project in Cebu City’s downtown area, adding to the expanding skyscraper boom in the city.
The first 23-story residential and retail building of its maiden project, Arc Towers located on N. Bacalso Ave. corner V. Rama St. will be completed by the end of 2022.
“Future developments will include a hotel and offices,” said chief operating officer (COO) Amelia Leonardo in an interview Wednesday, Jan. 8, 2020, at the groundbreaking of the project.
“For the first tower, we expect it to be fully delivered by 2022,” the official said.
The first residential building will have a total of 697 units once completed.
The 8,852-square-meter property will also see the rise of another two towers in the future.
The second will still be residential and commercial while the third will be a hotel development with office spaces, Leonardo said.
While she did not cite specific plans, the COO hinted that the company is looking at building more projects in Cebu in the future.
“We’re not limiting our plans,” she said.
Leonardo noted that Cebu is more promising as a property market than Manila especially for newbie developers, saying Cebuano buyers are more keen on “quality than the name.” “That’s why we chose Cebu to launch our maiden development,” she added.
Arc Towers, designed by design firm LPPA and master planned by global architecture company Broadway Malyan, will be constructed in phases.
The 23-story first tower is designed to have a lobby, retail shops, al fresco restaurants and parking area.
It will likewise house a podium parking, resort amenities, premium and standard residential units, sky garden with a gym, study lounge and conference rooms.
Arc Towers boasts of its proximity to key establishments, malls, hospitals and schools. These include key city landmarks such as Robinsons Cybergate, Chong Hua Hospital, Vicente Sotto Memorial Medical Center, Cebu Institute of Technology-University, University of San Jose-Recoletos and University of San Carlos South Campus.