Cebu City – Riding the Rising Dragon
A place rich in history and full of promise, Cebu City is among the
Philippines’ fastest-growing areas. A precolonial trade center, it was
the first large settlement that was visited by the Spanish explorer
Ferdinand Magellan in 1521 and subsequently became a jump-off point for
Spanish expeditions to the rest of the archipelago. Cebu City’s
location in Central Visayas has made it a modern-day trade, commercial,
industrial, and educational center for the southern Philippines.
From Sea to Mountain
Most of Cebu City lies on a narrow coastal plain that rises abruptly to
the Cebu central mountain range to the west. Because of its strategic
location, it is the transportation hub that connects the Visayas to the
rest of the country, with large seaports and an international airport
calling the city home.
Cebu City has many business establishments in the downtown area and
near the seaports. Up-and-coming business centers in Cebu City include
the Cebu Business Park, which hosts the regional headquarters of major
banks, airlines, and logistics companies; the Cebu IT
, which is a
prime location for BPO firms; and the South Road Properties, which is
now the site of an SM Premiere mall.
At least eleven universities have campuses in the area. These include
the University of San Carlos, one of the country’s oldest educational
institutions; the University of the Visayas, the University of Southern
Philippines Foundation, Southwestern University, and the University of
the Philippines Cebu.
Buying a Condo in Cebu City
The recent surge in BPO and IT companies has resulted in a demand for
residences nearby; real estate developers have taken advantage of this
demand by building condominium buildings all over the city. Popular
projects on ZipMatch are Calyx
. One can buy
a condo in Cebu City for as low as P1.113 million to as high as P42
million. Tenancy rates are high; thus, there has never been a better
time to invest in a condo in Cebu City.