Cebu: A true home of luxury, a true home for Shang Properties
Cebu City’s ongoing transformation underscores its status as one of the premier investment hubs in the Philippines.
“The last time that I’ve been here was back in 2020, but the pandemic happened,” Sheila Lobien said to an audience of over 280 Cebuano real estate agents, brokers and investors who gathered on Aug. 10 at the posh Shangri-La Mactan in Cebu. “[It’s only been] four years and I can’t recognize anymore the city.”
Lobien, CEO of Lobien Realty Group Inc., was among the speakers at the latest leg of INQTalks entitled, “Cebu: A True Home of Luxury”. This forum was a collaboration between Inquirer Property and Shang Properties Inc. (SPI), which is set to contribute to the evolution of the Queen City of the South with its first residential development here called Shang Bauhinia Residences, soon rising along Banilad district’s Bauhinia Drive.
This project, according to Shang Properties EVP-Commercial Maria Rochelle Diaz, marks the company’s commitment to sustain its growing pipeline to capture and make a difference to its target market.
“In 2024, Shang Properties is shaping the future as we make new milestones and expand our footprint in the Queen City of the South—Cebu. The Shang brand has always been a household staple to most Cebuanos. With the entry of Shangri-La Mactan in 1993, Shang or Shangri-La has been close to the hearts of the people of Cebu,” Diaz said in her opening remarks.
“We have broken ground [for Shang Bauhinia Residences] in the second quarter to mark a milestone and the start of something beautiful and meaningful to the Cebuanos,” she added.
A logical choice
And there was no doubt that Cebu is a logical choice for Shang Properties, said Diaz and speakers at the event.
Lobien explained that Cebu showed strength in tourism, business process outsourcing, and overseas remittances—three pillars of the Philippine economy. Central Visayas, whose capital is Cebu City, also outperformed the country in terms of per capita GDP growth rate. She pointed out that the per capita GDP of Cebu City was higher by over P100,000 compared to the rest of the country.
Architect Anne Marie Cuizon, Assistant Department Head of the Cebu City Planning and Development Office, explained the charm of her city: “No. 1, it’s very significant historically… We’re actually at the center of our country, and we are blessed with the mountains and the coastlines.”
Future initiatives are also set to improve the city, Cuizon added. These include updating the comprehensive land use plan, improving public transportation through new roads and modes of transportation, and delineating historic, economic and creative districts.
Enterprising, discerning
Other Cebu locals in the panel—VSA Architecture and Design Studio principal architect Jason Chua and First Metro Securities Brokerage Corp. relationship officer John Anthony Borga—further cited how enterprising and discerning the Cebuano people have become.
“Maybe if you were asking me this like 10 years ago, it would be a different scenario,” Borga said. “Now as we’ve noticed people know how to spend their money more. It may not be noticeable with how we do things, how we spend; but in terms of property and investments, we could see a downpour.”
“[Cebuanos have become] discriminating not just in terms of price, but in terms of quality,” said Chua. “Maybe 10 years ago, we would… educate [people] more in terms of what quality really means because it was more just associated with the price. But now, clients come in and already have that desire for quality products, quality developments and quality real estate.”
Undeniably bright future
Shang Properties, this early, is incredibly excited to be part of the dynamic Cebu property ecosystem, said Shang Properties marketing director Jayme Uy.
“The growth and potential we see here are truly inspiring, and we are committed to contributing to this vibrant market with innovative developments that reflect the unique culture and aspirations of Cebu,” Uy said.
“The future of the Cebu property industry is undeniably bright. With the ongoing investments, developments and a community of forward-thinking professionals, I have no doubt Cebu will continue to rise as one of the most sought-after locations in the country,” she added.
Shang Properties wanted to both leverage and fuel that promise through its up and coming 50-story Shang Bauhinia Residences which, in the words of Diaz, “is set to make a mark with well-appointed residential units, superb amenities to provide the comfort of luxurious living.”
Chua was initially unfamiliar with SPI but, when he scanned the developer’s portfolio, he became convinced it would introduce genuine luxury living to Cebu.
Asked why Shang Properties should be trusted to deliver on its promise, Lobien added: “[The Shang brand] always exudes luxury, attention to detail. When you look at their iconic properties in Metro Manila and other parts of the world… they’re beautiful and classic… You want to buy properties that are like that.”
