THE city of Cagayan de Oro in Misamis Oriental will see a number of key developments in the property sector in 2017, according to local business monitor CDODev.
In a New Year’s Eve update, CDODev highlighted a number of commercial and residential projects the northern Mindanao city is looking forward to seeing completed this year.
Two key projects that are scheduled to open in 2017 are the SM CDO Downtown Premier, which will be the second large mall in Cagayan de Oro, and the Seven Seas Waterpark and Resort. The SM facility is due to open in July. The Seven Seas complex was originally due to open in 2016, but some construction delays have forced the developer to postpone the opening to some as-yet unspecified date this year.
Cagayan de Oro will also see one new hotel project possibly completed in 2017. The New Dawn Pension Plus is expected to top off sometime this month or in February, and should be ready for business near year-end.
Other significant developments include the expected mid-year opening of a CityMall in the Bulua neighborhood; the opening of an expanded store in Cogon and renovation of a second store at the Carmen Public Market by homegrown retailer Ororama; and the anticipated construction of the ACE Medical Center, which reportedly was granted all the required permits this year. And finally, a new community fish port is scheduled to open later in the year in the Bonbon area.
Within the city proper, 2017 will see significant progress on three major projects. Ayala Land’s Avida Aspire Tower 1, a 29-story condominium project, will become Cagayan de Oro’s tallest building when it tops off sometime late in the year.
In the downtown Limketkai Center, the Loop North Tower, the first condominium development in the commercial center, is also expected to top off this year.
2016 also saw the start of construction of Cebu Landmasters’ MesaVerte Residences, which will be a complex of three 15-story buildings containing studio and one-bedroom condominium units. According to the developer, “significant progress” is expected on the first tower in 2017.
Further from the city center, Cebu-based Contempo Property Holdings Inc. (CPHI) announced it will launch its low-cost housing brand Sunberry Homes in CDO in 2017. Alveo Land is also preparing to start construction of a 100-hectare mixed-use development in Tablon, although few details have been provided so far.