CEBU Landmasters, Inc. (CLI) and the Archdiocese of Cebu broke ground for mixed-use development Patria de Cebu at Cebu City’s heritage trail, the listed property developer disclosed to the exchange on Monday.
Patria de Cebu’s groundbreaking is said to be “timed to also celebrate the 500th year of Christianity in the Philippines.”
The 21,000-square meter (sq.m.) project was named after and inspired by a Catholic recreation center in the 1950s and will be located in front of the Cebu Metropolitan Cathedral.
“The final design of Patria de Cebu is a result of a collaboration between the Archdiocese of Cebu, CLI and key stakeholders. It is a celebration of Cebuano history and culture in today’s setting,” Jose R. Soberano III, CLI chief executive officer, said.
The collaboration will cover the development and operation of the project for 40 years.
Project architect Jose Pedro C. Recio envisions the development to “visually bridge the old and the new,” with baroque influences featured in its design.
The main Patria building will be retained in the final design, which was approved by the National Historical Commission of the Philippines.
“[The] new practical structure will be integrated while preserving the heritage of the main Patria building that will have dining, entertainment and office hub while showcasing a large central interior plaza for cultural and other gatherings,” CLI said.
Patria de Cebu will use 4,320 sq.m. of the development for dining and entertainment spaces, while some 4,400 sq.m. will be allotted for office spaces.
The remaining area will be taken up by 182-room international hotel Mercure Cebu Downtown, which will be operated by French multinational hospitality group Accor S.A.
Mercure Cebu Downtown will include amenities such as a ballroom, meeting rooms, a restaurant, executive floor lounge, swimming pool, and a rooftop bar. The hotel is set to open in 2024.
Shares of Cebu Landmasters at the stock exchange went up by 1.25% or P0.07 on Monday to close at P5.67 each. — Keren Concepcion G. Valmonte
