Homegrown real estate developer Priland Development Corporation will build a P2-billion office and commercial project in Mandaue City following the signing of a joint venture agreement with the local government led by Mayor Jonas Cortes.
Named Harbor Centre, the two-tower development will rise on a 7,800 sqm lot along Mantawi Avenue with its construction scheduled to begin by 2024.
The PEZA-registered Grade A Green Building will house leasable office and commercial spaces as a response to the foreseen demand as businesses gear up for post-pandemic recovery.
“As the economy slowly gets back on its feet, we join the momentum as we see the potential of Mandaue as a highly urbanized city. Many businesses are now shifting back to normal operations, thus, the need to provide spaces where big companies and startups alike can grow and flourish. We are grateful that the city government has chosen us as their partner for this venture,” said Priland President Ramon Carlo Yap.
In a report released by the Philippine Statistics Authority in December 2021, Services hold the largest share of Mandaue City’s economy from 2018 to 2020.
Services, which cover wholesale and retail trade, information and communication, financial and insurance activities, and professional and business services, among others, comprised 62.2 percent of the city’s economy.
Aligned with the city’s economic behavior, Harbor Centre will offer mid to high-end office spaces for regional headquarters of commercial brands, business process outsourcing companies, Philippine offshore gaming operators, multinational companies, and startups.
“Priland envisions Harbor Centre to be an economic and commercial hub that will help in the growth and progress of Mandaue City in the coming years,” said Yap.
The joint venture is an addition to Priland’s real estate footprint particularly in commercial and office spaces. In 2021, Priland started construction of their vertical projects Paseo Grove and Vertex Central, both having a mix of commercial and residential spaces.