Cebu’s South Road Properties (SRP) is one of the most awaited developments in the booming Cebu City. The South Road Properties (SRP) site comprises 300 hectares of waterfront land registered with PEZA as a Special Economic Zone. The SRP was planned to provide additional reclaimed land beside the east coast in Cebu City. The SRP is envisioned to catalyze the massive development of Cebu as a major investment and leisure destinations in Asia.
Aerial View of Cebu City’s South Road Properties
Here’s a summary of proposed projects in Cebu South Road Properties:
SM Seaside City Complex
The SM Seaside City Complex is a massive project developed by SM Prime Holdings, the largest shopping mall and retail operator in the Philippines. SM is one of the first developers to build their landmark project in the South Road Properties (SRP) in Metro Cebu. With a total land area of 304,100 square meters, the SM Seaside City Complex will feature hotels, a conference and convention center, a church, residential buildings, community facilities, and a new supermall, which will be the focal point of the whole development. Drawing design inspiration from the nautilus shell, Arquitectonica conceptualized the mall component of the SM Seaside City to have expanding, concentric arcs radiating from a central multi-purpose space. It will also be characterized by modernity on the exteriors, while the interior is inspired by nature. The mall is expected to have a gross floor area of 291,043 sqm, which will slightly bigger than the existing SM City Cebu. A 100 meter Iconic Viewing Tower at the center of the mall, a “cube” adorned with dancing LED lights, and an expansive roof garden will be built as added attractions.
photos from Architectonica
Citta di Mare by Filinvest
Competing head on with SM Seaside City at the newly reclaimed South Road Properties of Cebu City is Citta di Mare by Filinvest Land. Citta di Mare, or “City by the Sea,” is a master-planned community, which aims to capture the charm of resort living. The 50.6-hectare lot of Citta di Mare is divided into two sections by the Cebu South Coastal Road. The 106,148sqm waterfront area will be transformed into the Il Corso, a lifestyle strip / mall that will offer a range of seaside leisure activities. While the 390,484sqm section on the opposite side, will be developed into a residential resort town composed of themed residential communities anchored by the Piazza, an Italian-inspired common amenity area. Amalfi Oasis, the first residential project to be developed at Citta di Mare, is inspired by the Italian coastal towns along the Amalfi Coast.
photos from Citta de Marre SRP Website by Filinvest Land
South Road Properties (SRP) Upcoming Developments
Aside from the 30-hectare SM Seaside City development and the 50-hectare Citta di Marre, there’s still a lot of space left for future investments. Some of the other proposed developments in the SRP include:
- International Movie Studios by Bigfoot Entertainment – the first of its kind in the Philippines. Bigfoot also plans to set up at the SRP its Executive Hotel, with 85 world-class, fully-serviced suites, a gym and spa, a cafe and business center.
- University of the Philippines in the Visayas (UPV) Cebu College Campus - Phase 1 of the project will be the construction of a Computer Science building. UPVCC-SRP Campus will offer MBA and computer science programs in Phase 1. Phase 2 and 3 will offer programs in Product Design and Communications Design.
- Bus Rapid Transit System (BRTS) – a high-efficiency public transportation system that allows hassle-free transfers between major points within the site. The SRP BRTS will connect with a planned citywide BRTS.
text from Cebu City Government Website
Reportedly, the Cebu City Government is waiting for SM Seaside City and Citta di Mare to finish construction before finalizing any leasing agreements with additional investors. The move is based on the prediction that land values in the SRP will triple within the next three years.