This article was initially featured in SunStar Philippines by Katlene O. Cacho on September 24, 2024.
ANOTHER luxury residential tower is set to be built in Cebu City.
On Tuesday, Sept. 24, 2024, niche luxury developer Shang Properties Inc. introduced Shang Bauhinia Residences, its first project outside Metro Manila.
Located on Bauhinia Drive, Gov. Cuenco Avenue, Cebu City, this latest investment in Cebu’s property scene features a 52-tower residential condominium that will offer two brands in one tower—the Shang Bauhinia Residences and The Signature Units at Shang Bauhinia Residences.
Shang Bauhinia is expected to be completed in the second half of 2031.
“We are excited to make our mark in Cebu,” said Wolfgang Krueger, executive director at Shang Properties. “Cebu is not new to us; our sister company, Shangri-La Hotels and Resort, built the first Shangri-La Resort in Mactan, which has provided unparalleled luxury vacation experiences to Cebuanos for decades. We look forward to introducing our distinguished brand of redefined luxury living to this dynamic city.”
“Cebuanos appreciate quality and elegance. We are dedicated to delivering an elevated living experience that aligns with the tastes and preferences of the Cebuano community,” he added.
Maria Rochelle Diaz, executive vice president for commercial at Shang Properties, noted that factors such as Cebu’s strong economy, increasing population, consistent property appreciation, significant infrastructure development and limited quality and developable land contributed to their decision to reinvest in Cebu since establishing Shangri-La Resort in Mactan in 1993.
Shang Bauhinia will have a thousand units, including four garden units and a penthouse.
Rise of upscale development
Rose Morales, senior director for group sales at Shang Properties, believes Cebu is ready to “embrace luxurious living,” as demonstrated by the influx of high-end brands in the area.
“These luxury brands wouldn’t be here if there were no market for their products,” she said.
Cebu’s sustained healthy economic growth is driven by robust tourism, information technology-business process management and overseas remittance industries.
In recent months, Cebu has seen condo launches in the upscale to luxury segments. According to Colliers Philippines, price points for upscale units in Cebu start from P12 million to P19 million, while luxury units are priced at P20 million and above.
Joey Roi Bondoc, research director at Colliers Philippines, noted that the supply of upscale and luxury residential projects in Metro Cebu is relatively small compared to Metro Manila. However, demand is likely to be driven by local and overseas-based Cebuano investors seeking attractive investment prospects that serve as viable hedges against inflation.
“Just like in Metro Manila, we see these investors banking on the capital appreciation potential of these upscale and luxury residential developments,” he said.
2 in 1
Shangri-La’s first residential project in Cebu features two residential brands.
Shang Bauhinia Residences offers studio to two-bedroom units ranging from 35 to 104 square meters. Owners of these units will have access to Bauhinia Podium amenities.
The property boasts an expansive podium level covering 3,800 square meters, filled with amenities including a lush outdoor resort pool, gardenscapes, wellness and fitness facilities, as well as flexible co-working spaces.
The Signature Units at Shang Bauhinia Residences, located on the upper floors of the tower, offer larger unit sizes. Two-bedroom units range from 110 to 124 square meters, while three-bedroom units range from 188 to 221 square meters.
Owners of these units will have private lift access and exclusive access to the Signature Lounge, which features an infinity pool deck, a modern gym, a sauna, and private entertainment venues.
Shang Properties held a groundbreaking ceremony for the project in the second quarter of this year. Next year, the company will open its sales gallery in Cebu Business Park.
Shang Bauhinia Residences is designed by P&T Group, CASAS + Architects Inc., and FM Architettura.
