For Sale ₱236,850,000 - Commercial Lot
Overview
Lot 5 in Seagrove Phase 3 is a 1,579 sqm commercial development parcel located within the Seagrove eco-tourism estate in Punta Engaño, Mactan.
Positioned along Seagrove Drive, the site sits inside a 13.6-hectare mixed-use coastal development jointly developed by Ayala Land and Taft Properties. The estate integrates retail, hospitality, residential components, and a mangrove boardwalk environment designed around experiential tourism.
With a Floor Area Ratio (FAR) of 5, the lot supports mid-rise mixed-use development such as boutique hospitality, condotel formats, retail podiums, or experience-driven lifestyle concepts.
Within the Seagrove masterplan, most commercial parcels have already been absorbed, leaving only a small number of remaining development sites.
Property Snapshot
Location
Seagrove Estate
Punta Engaño Road
Lapu-Lapu City, Cebu
Lot Area
1,579 sqm
Price
₱150,000 / sqm (VAT exclusive)
Indicative Land Value
≈ ₱236,850,000
Development Controls
- FAR: 5
- Site occupancy: 61%
- Maximum curb cuts: 2
- Podium and basement parking allowed
- Required 3-meter arcade zone along the street frontage
- Minimum setbacks:
- Front: 5m
- Side: 3m
These controls allow a podium + tower development format, which is typical for boutique hotel or condotel projects.
Learn more about the Seagrove estate development in Mactan.
Development Capacity
With FAR 5 applied to the lot:
1,579 sqm × FAR 5 = ~7,895 sqm potential GFA
This scale typically supports:
- 6–8 storey mid-rise development
- Hospitality + retail podium
- Residential / condotel tower
The podium frontage requirement encourages active street retail or dining components facing Seagrove Drive.
Location Context: Mactan Resort Corridor
Seagrove sits within the Punta Engaño resort corridor, one of Cebu’s highest tourism-density locations.
Nearby resorts include:
- Shangri-La Mactan
- Sheraton Cebu Mactan
- Dusit Thani
- Crimson Resort
- Mövenpick Resort
Resorts in this corridor recorded average occupancy of around 60% in 2023, with some properties exceeding this level during peak tourism periods.
The estate is also located:
- 0.3 km from Punta Engaño Port
- 2.1 km from Angasil Port
- 5 km from Mactan Cebu International Airport
This proximity makes the area one of Cebu’s most accessible tourism districts.
Estate Concept: Eco-Tourism Mixed-Use Development
Seagrove is positioned as an eco-tourism and leisure estate anchored by a mangrove sanctuary and coastal boardwalk.
The masterplan includes:
- Seagrove Boardwalk promenade
- Town center retail
- Hospitality components
- Residential developments
- Future mixed-use sites
The development emphasizes open-air retail, tropical architecture, and experiential tourism, aligning with Mactan’s resort economy.
Development Concepts Suitable for Lot 5
Given its size and zoning controls, the lot is generally suitable for:
Boutique Hotel or Lifestyle Hotel
A mid-rise hospitality project targeting resort spillover demand.
Condotel Development
Tourism-driven residential units with short-stay rental management.
Mixed-Use Hospitality + Retail
Retail podium with boutique rooms or serviced apartments above.
Experiential Retail Concept
Food hall, rooftop dining, or lifestyle retail linked to the boardwalk.
Learn more about the Seagrove estate development in Mactan.
Constraints and Tradeoffs
This site is not suitable for all development formats.
Potential constraints include:
Existing Hospitality Component in Estate
A hotel component is already planned within Seagrove, which may create internal competition for hospitality operators.
Tourism Demand Sensitivity
Projects reliant purely on tourism must account for seasonal fluctuations.
Mid-Rise Limitations
FAR allows meaningful density but does not support large high-rise hotel projects typical in dense urban CBDs.
Why Some Developers Are Interested in Seagrove
Several structural factors drive interest in the project:
1. Scarcity of titled development land in Punta Engaño
Most coastal parcels in the area are controlled by resorts or large developers.
2. Ayala-managed estate environment
Utilities, road network, and estate management reduce operational uncertainty.
3. Tourism-anchored location
The resort corridor remains one of Cebu’s strongest hospitality markets.
Who This Property Is Best For
This site typically attracts:
- Boutique hotel developers
- Condotel developers
- Hospitality groups seeking small resort-adjacent sites
- Lifestyle retail operators
It is less suitable for purely residential projects without hospitality components.
Before You Inquire
Commercial development sites inside master-planned estates require evaluation beyond price per square meter.
Prospective buyers should typically confirm:
- Development concept
- FAR utilization strategy
- Parking strategy
- Hospitality market positioning
- Project feasibility assumptions
Initial discussions usually begin with a review of the estate guidelines and development parameters.
Learn More About the Estate
For a broader overview of the master-planned development, see:
Request the Development Brief
For developers evaluating Seagrove, additional information may be requested including:
- Lot Information Plan
- Estate Development Guidelines
- Development controls and setbacks
- Availability confirmation
You may request these materials through email.
Quick Development Math
Because the lot has FAR 5:
Maximum Buildable Floor Area
1,579 sqm × FAR 5
= 7,895 sqm potential GFA
Land Cost per Buildable Floor Area
Using total land price (VAT exclusive):
₱236,850,000 ÷ 7,895 sqm
≈ ₱30,000 per buildable sqm
This is actually very competitive for a hospitality or condotel project in Punta Engaño.
Seagrove Lot 5 – Pricing and Development Metrics
Seagrove Lot 5 is a commercial development parcel located within the Seagrove eco-tourism estate in Punta Engaño, Mactan. The site has a total land area of 1,579 sqm and is offered at ₱150,000 per sqm (VAT exclusive).
Pricing Summary
| Item | Details |
|---|---|
| Lot Area | 1,579 sqm |
| Price per sqm | ₱150,000 / sqm |
| Total Land Price (VAT Exclusive) | ₱236,850,000 |
| VAT (12%) | ₱28,422,000 |
| Total Price (VAT Inclusive) | ₱265,272,000 |
Development Potential
Seagrove commercial lots allow a Floor Area Ratio (FAR) of 5, enabling mid-rise mixed-use developments such as boutique hotels, condotel projects, or retail-hospitality podium formats.
| Metric | Estimate |
|---|---|
| Lot Size | 1,579 sqm |
| FAR | 5 |
| Maximum Buildable Floor Area | ~7,895 sqm |
| Land Cost | ₱236,850,000 |
| Land Cost per Buildable sqm | ~₱30,000 / buildable sqm |
Development Controls
- Site Occupancy: 61%
- Front Setback: 5 meters
- Side Setback: 3 meters
- Required 3-meter arcade frontage
- Maximum of two (2) curb cuts
- Podium and basement parking allowed
These development parameters typically support a podium + tower format, allowing retail or dining at the ground level with hospitality or residential components above.
Discuss This Development Site
Seagrove Lot 5 is one of the remaining commercial development parcels within the Seagrove estate in Punta Engaño, Mactan.
Developers evaluating the site typically review estate guidelines, development controls, and potential concept alignment before proceeding with acquisition discussions.
If you are assessing Seagrove for a hotel, condotel, or mixed-use project, you may request additional details including the lot information plan, estate development guidelines, and current availability.
To discuss this property or request the full development brief.
Disclaimer:
All property information, including prices, unit sizes, features, and availability, is subject to change without notice. While reasonable care is taken to ensure accuracy, final details are confirmed during the reservation and contract process. Buyers are advised to verify current information prior to commitment.
