The Philippines Seaside Central Business District

This is Cebu's South Road Properties, a 300-hectare reclamation project that is envisioned to be the growth driver of the Visayas Region. It has some of the most amazing constructions being done currently, which we outlined in the video.

Courtesy of Real Estate Land Property, CCLEX, Isla Dela Victoria, Filinvest Group, SM Prime Holdings, Government of Cebu, JICA, Cebu Ocean Park, Cebu Holdings, SRP.

Some footage/thumbnail are for presentation only.

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Music:
The Documentary by bdProductions(envato)

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Summary Script

In 1990, one of the largest reclamation projects in the Philippines was approved. It was a development that was supposed to serve as a light industry zone, but eventually it grew into a massive commercial sector where 5-star resorts and casinos are placed, large convention centers that can fit tens of thousands, and all other substantial developments.

This is Cebu’s famous South Road Properties, a 300-hectare reclamation area that was proposed by the former mayor of Cebu City, Tomas Osmeña.

Soon after that they were able to secure a loan from Japan’s Overseas Economic Cooperation Fund. This assistance was used to finance a study called the Project Formulation for the Metro Cebu Development Project. This research was created so that Cebu will see its economy drive higher. Few years later, after everything had settled in, various projects were submitted to the National Economic and Development Authority. It was a total of 21 road links along with a reclamation project that was located in the south. Further studies were done by the government to determine if they would be feasible, and eventually only 2 projects made it and among the two of those projects the other one is the South Road Properties.

Today, SRP stands as a place where massive developments are held, and over 300 billion pesos worth of projects are on the way! From a gigantic convention, to an underwater park and even an iconic bridge.

To go into detail, we have the SM Seaside, which is known to be the biggest mall in Cebu. With its majestic tower peeking through the clouds and its wavy design pattern of its windows, SM Seaside truly captivates the hearts of local people. Constructed back in 2015, the mall now holds the record of the third largest mall in the Philippines and the ninth largest mall in the whole world. The mall contains more than 700 shops within, making it one of the best shopping experiences.
A marine themed park that will be the largest aquarium in the Philippines will also be constructed and it is called the Cebu Ocean Park, it will be something the city has never seen before as this will offer a Deep tank lagoon where it likewise has a 360-degree viewing tunnel for people to experience a full variety of different colored fishes, and menacing looking sharks. It is definitely an underwater adventure worth taking and is expected to host more and more fine specimens in their aquarium.

Cebu’s largest indoor arena called the Seaside arena is on the move. While this has been proposed way back in 2017 it has failed to be approved due to political issues, but now it is set to be completed by the year 2025. This will be big enough to have a seating capacity of over 16,000 people.

The shoreline development consists of 70 percent commercial and 30 percent residential. These two will generate at least 2 million of direct and indirect jobs, 480,000 jobs will come from business process outsourcing companies that will expand in the area while the remaining number will turn from indirect activities such as those in hotels, residential and other work establishments set to rise in the property.

The projects mentioned are headed by a consortium of the largest enterprises in the country named as SM Prime Holdings, Ayala Land, and Cebu Holdings. They have done effectively in other cities and will do so in this. This project alone will contribute well over 22 billion pesos to the government of Cebu just from permits, taxes and other fees. Meaning that there will be more benefits will be given to the metropolis of where it lies on in the future.
This Seaside development is just one of the 10 key points that the current mayor wants to improve during his term.