Public and private sector executives have hailed the Cagayan de Oro City Council’s recent approval of Masterson Mile North, a condominium project of Pueblo de Oro Development Corporation, in Uptown Cagayan de Oro.
Approved by the 20th City Council through City Ordinance No. 2024-515 on July 22, 2024, the project will feature five residential towers ranging from 22 to 26 floors with a total livable space of 11,649 square meters and 1,006 saleable units.
The upcoming landmark is designed by international architects Gensler from Singapore and Casas+ Architects, a testament to Cagayan de Oro’s growth towards becoming a world-class urban center.
Said John A. Asuncion, Local Economic and Investment Promotion Officer (LEIPO) of the Oro-Trade and Investment Center (Oro-TIPC): “Starting the second half of 2023, you can see projects from the private sector groundbreaking here and there. Makita nila ang sincerity, not just willingness, of LGU to assist investors.”
“Coming from the private sector (actually I still consider myself part of the private sector), we are creating this positive business atmosphere to which makita ug ma feel sa mga businessmen,” he added. “This is not a one man’s job nor a single office lang. It’s the entire bureaucracy, and it starts with the Office of the Mayor.”
“The Cagayan de Oro LGU’s endorsement is a welcome move, jumpstarting Metro Cagayan de Misamis’ economy and attractiveness as the logistics, services and educational center for Northern Mindanao,” said Engr. Elpidio M. Paras, Promote Normin Foundation President.
“Promote Normin fully supports the planned five tower condominium development of Pueblo de Oro as available land in the Uptown area is already diminishing. Masterson Mile North’s strategic location near the two campuses of Xavier University Grade School and High School and the ongoing development at the new XU Manresa site will certainly be attractive to students and their families who come from nearby provinces in Region X,” he noted further.
The Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber) was likewise effusive in its endorsement of the landmark project.
“The Oro Chamber is delighted to announce its wholehearted support for the recent approval by the 20th City Council of the Masterson Mile North condominium project. This approval marks a pivotal moment in our city’s urban development and growth,” said Oro Chamber President Dr. Jesus Jardin in a press statement.
Jardin cited how the Chamber has been a proactive supporter of the project since its inception when PDO applied for land classification in 2022, recognizing its transformative potential, understanding its promise to significantly enhance our local economy, infrastructure, and community living standards.
The group further stressed its initiative in organizing the Cagayan de Oro Investment Forum, held on October 5, 2023, at Edsa Shangri-La Hotel in collaboration with the Local Government Unit of Cagayan de Oro (LGU-CDO) which provided a valuable platform to present the Masterson Mile North project to investors and stakeholders.
The enthusiastic response and strong interest it garnered at the forum underscored the broad-based confidence in this development’s potential, the chamber added.
Booming Uptown
The bullish real estate prospects could best be seen in the Pueblo de Oro Township’s Business Park where no less than three more major projects are continuing to expand or undertaking greenfield developments.
Citadines by Ascott Ltd.
Billed as the Premier International Brand of Hotels & Serviced Apartments, Citadines by Ascott apart-hotel will have 196 serviced residences in Città Alta (“high city” in Italian) the tallest of the seven buildings of Primavera City, the seven tower, mixed use, four phase development of Italpinas Development Corporation (IDC) located in the Pueblo Business Park. Città Alta is a 32-story mixed use condotel projected for completion in 2028.
Radisson Blu Hotel and Residences, Cagayan de Oro
In contrast, the co-located development Radisson Blu Hotel and Residences, Cagayan de Oro is a greenfield project which will become the first 5-star hotel and internationally-branded mixed-use development in Metro Cagayan de Oro.
Perfectly positioned on one of the main roads in the city, this 717-key project is being undertaken by Cebu-based property developer AppleOne Group, Inc. which is expanding its portfolio beyond Visayas for the first time by partnering with Radisson Hotel Group to build this project.
The company is the developer behind Sheraton Cebu Mactan Resort in Cebu, as well as business and lifestyle hub in Cebu, the Mahi Center where Fairfield by Marriott Cebu Mactan is nestled.
In December last year, the company broke ground for JW Marriott Panglao Island Resort and Residences in Panglao, for the first 5-star luxury hotel and residences in Bohol province. AppleOne Group also owns and operates the Apple Tree Resort and Hotel in Opol, Misamis Oriental.
A yet unnamed third hotel to be constructed by a local hotel and restaurant company with decades of experience in the business, is also set to expand in yet another property in Pueblo Business Park.
“The Masterson Mile North condominium project is a testament to PDO’s visionary approach and the collaborative efforts of the Oro Chamber and LGU-CDO,” the Chamber statement further stressed.
“This project promises to significantly upgrade the urban landscape of Uptown CDO, providing state-of-the-art housing solutions, and driving economic growth in our city. Oro Chamber anticipates another showcase of this kind during the Housing and Construction Congress and Expo on November 12-14, 2024 at Limketkai Mall.”
“The Oro Chamber remains steadfast in its mission to support initiatives that foster sustainable development and elevate the quality of life in Cagayan de Oro. We extend our congratulations to Pueblo de Oro Development Corporation on this significant milestone and eagerly anticipate the positive impacts the Masterson Mile North project will bring to our community.”
As Cagayan de Oro capitalizes on its strategic location as the gateway to Northern Mindanao, its growth is sustained by an influx of businesses and migrants attracted by the LGUs ease of doing business, the availability of a skilled workforce, and the numerous infrastructure project rising within the city and Northern Mindanao.
The presence of prestigious educational institutions and residential developments further enhance Cagayan de Oro’s desirability as a robust and livable city, evidenced by its ranking as the Philippines’ Top 7 Most Competitive Highly Urbanized City (HUC) in the 2023 Cities and Municipalities Competitiveness Index. (RMB)
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