Taft Properties has partnered with top Asia property developer Hongkong Land to transform a 20-hectare waterfront property along the Mactan Channel in Mandaue City into the world-class lifestyle destination Mandani Bay.
Taft Properties president and chief operations officer Christopher Narciso said the mixed-use township will involve 20 towers, a grand harbor and boardwalk, as well as a large strip of greenery that cuts through the center of the property.
Mandani Bay recently opened its 1,500-square meter Show Gallery, the first structure to rise in the property. A press statement said the gallery is an architectural masterpiece borne out of a collaboration among international architects, engineers, and designers
The development is Hongkong Land’s third joint venture and biggest project in the Philippines, according to company representative Finn Carew. He said the two-tower cluster Mandani Bay Suites, which features studio to three-bedroom units, will be the first residential enclave built on the property.
For Taft, Mandani Bay is the fulfillment its dream to have a world-class community here in Cebu, Narciso said. At the same time, the residential, retail, and office components of the development seeks to address the frustrations of Cebuanos related to traffic and parking.
Carew said Mandani Bay is Hongkong Land’s first major commitment in the Philippines.
“What’s special about Mandani Bay is that a lot of attention is being paid to it, from the design and architecture to the construction components. It is such an iconic project and the first of its kind in the Philippines,” he added.
Carew likened the project to such international developments as the Thames River in London, Manhattan in New York, the Sydney Harbour, Victoria Harbour in Hong Kong, and the Marina Bay in Singapore.
Mandani Bay targets
Long-term projects like Mandani Bay will have most of the developments launched after 10 years and see complete build-up in 20 years, said Narciso, adding he sees a bright future for the property sector in Cebu.
Philippine economic trends also show that the property market can only go up in the medium term, added Carew. He said a change in government administration shouldn’t affect the sector too much.
Gilbert C. Ang, Mandani Bay project director, said that they considered what Cebuanos like when they designed the township. He added that they can expect their top four passions of culture, creativity, adventure, and water to be incorporated in the development.
According to Ang, the residential component of the project caters to a wide range of clients, from starting to established families. This is in line with their target to attract local Cebu residents and foreigners to make their home in Mandani Bay, which will be made up of 80 percent residential, 15 percent commercial, and five percent office spaces.