Mactan Island, once known primarily for its pristine beaches and resorts, is now emerging as one of the most vibrant business and leisure hubs in the Philippines. Recent insights from Megaworld and Colliers, during their property briefing, revealed how Mactan is steadily evolving into a go-to destination for investors, tourists, and businesses alike. Here’s a closer look at why Mactan is poised for tremendous growth.
Strategic Infrastructure Developments
A key driver of Mactan’s booming appeal is the ongoing and future infrastructure projects that significantly improve connectivity and accessibility. The completed Cebu-Cordova Expressway and the upcoming Cebu-Mactan 4th Bridge are crucial in linking Mactan Island to mainland Cebu, cutting down travel time for commuters and enhancing logistics for businesses. These infrastructure projects are expected to raise property values and attract even more investments into the area.
Additionally, the Bus Rapid Transit (BRT) system, which is set to be completed by 2025, will traverse key commercial districts, further easing transportation challenges in the region. Improved accessibility is a massive boon for both businesses and the growing residential communities on the island.
Growth in the Leisure and Tourism Sector
With the rise in domestic tourism, as noted by Colliers, Mactan has been welcoming more visitors than ever. The combined annual capacity of Terminals 1 and 2 at the Mactan-Cebu International Airport has surged to 12.5 million, fueling the rise in demand for hotels and resorts. Currently, Mactan boasts 17,000 hotel rooms as of the end of 2023, and this number is expected to increase as more hospitality brands set up shop on the island.
From luxury hotels to budget-friendly accommodations, Mactan caters to a wide range of tourists. The island’s world-renowned beaches, dive spots, and thriving cultural scene only add to its growing allure. It’s not just a place for relaxation; Mactan is rapidly becoming a central point for international events and conferences, further boosting its economy.
A Hub for Business and Investment
Mactan isn’t just about leisure. The Mactan Economic Zones (MEZ 1 and MEZ 2) and other special economic zones have been attracting foreign direct investments, with 324 firms contributing to the island’s growing economy. In 2023, these zones generated USD 2.3 billion in exports and provided jobs to over 67,000 people, with more opportunities expected as companies continue to expand.
Megaworld’s developments, such as The Mactan Newtown, are prime examples of how mixed-use townships are setting the trend in real estate. These integrated communities seamlessly blend residential, commercial, and leisure spaces, offering the live-work-play lifestyle that many professionals are seeking today. This development is perfect for businesses looking to set up offices in a strategic and scenic location while employees enjoy the conveniences and amenities nearby.
Strong Real Estate Prospects
Colliers’ market update also highlighted Mactan’s booming residential market, particularly in condominiums and house-and-lot developments. With the growing influx of businesses and tourists, demand for residential properties is steadily increasing. Several new condominium projects, including the highly anticipated Positano Mactan and Pearl Global Residences, have already reported strong sales.
Mactan’s real estate market is also benefiting from the overall economic recovery in Cebu. The area offers attractive price points compared to Metro Manila while still providing access to top-notch infrastructure, making it a hot spot for both investors and homebuyers.
Conclusion: The Future is Bright for Mactan
Mactan’s transition from a leisure-focused island to a thriving business and residential hub is well underway. Backed by robust infrastructure projects, an influx of tourism, and a growing business landscape, it’s clear that Mactan is one of Cebu’s brightest gems. For investors looking for the next big opportunity, Mactan offers the perfect combination of business potential and lifestyle perks.