BE GROUP moves INTO UPSCALE PROPERTY DEV’T

CEBU’S BE Group of Companies ventures into the upscale property market with BE Uptown Park, a premier mixed-use development along Juana Osmeña St., Cebu City. The project will feature a blend of residential, commercial and hotel components, marking a significant step in the company’s growth and expansion into high-end real estate.

Grand Benedicto, BE Group’s president and chief executive officer, said the BE Uptown Park will have an estimated project value of P4.5 billion. Benedicto described this latest project as the company’s “boldest and luxurious development to date.



” “The BE Group is stepping up to claim its place in this segment, driven by our belief that a homegrown Cebuano developer can. True success in this space is only meaningful when it’s achieved by those who genuinely understand and represent Cebu,” said Benedicto. “BE Uptown Park is more than just a project, it’s a testament to Cebuano’s ambition, talent and pride,” he added.

National developers have broadened their entry and presence in Cebu by launching projects tailored to the upscale market. “They are already here and as a local developer, we want to get a piece of this high-end market. This is a market that is in demand now,” said Benedicto.

Nova Noval, chief operating officer of BE Group, noted Cebu’s remarkable progress since the Covid-19 pandemic. She emphasized that premium brands would not be expanding in Cebu unless they recognized significant growth opportunities on the island. BE’s latest residential project will feature two residential towers, rising 20 and 24 stories high, atop a three-level commercial podium.

Together, these towers will offer a total of 400 units, including three luxurious sky villas, patio suites and a selection of studio, one-bedroom and two-bedroom units. Prices will range from P8 million to P154 million, catering to a diverse spectrum of upscale buyers. BE Uptown Park will mark the company’s first project with a dedicated focus on sustainability.

However, Benedicto noted that they have been incorporating green and sustainable practices into their other developments. “This project will be the next eco icon,” said Benedicto. BE Uptown Park will start construction in the middle of 2025 with completion slated in the first half of 2030.

The project’s hotel component will house AC Hotels by Marriott, the first AC Hotels in the Visayas and Mindanao area. This is also BE Group’s first partnership with an international hotel chain. According to property research firm Colliers Philippines, Cebu’s market for upscale and luxury residential units is poised for growth.

Developers are encouraged to actively assess and stimulate the demand among investors and end-users for these high-end properties. “The supply of upscale and luxury residential projects in Metro Cebu is relatively small compared to Metro Manila. But the supply is likely to be driven by local and overseas-based Cebuano investors looking for attractive investment prospects that are also viable hedges against inflation,” Colliers said.

/ KOC.