With lots of current and proposed developments, Cagayan de Oro City’s downtown has rapidly expanded from Divisoria to Lapasan.
A booming economy characterized by influx of real estate and commercial investments is clearly shown in the growth of the construction industry. New buildings are rising in every corner while old ones are either being renovated or reconstructed.
You can see in the labels in the map above the different businesses which have sprouted in the Recto-Lapasan District. It all started with the construction of Gaisano City, Ororama Megacenter and Limketkai Center in the 90s. Fresh reports state the former Ororama Megacenter will now be replaced by Puregold, with re-construction to start in the next few months.
Limketkai Center has been expanding ever since with the addition of its Gateway Complex which is now connected to the main mall by the walkbridge. The city’s first high rise building (19 floors) is Limketkai Hotel. Soon, this will be dwarfed by the 33-storey skyscraper under construction beside it. The mall is also expanding eastward. The east wing will extend just beyond the creek where a hypermart will be established. Right next to the hypermart is a 2-level carpark building. A new underpass will also be built right under this east wing extension.
Right beside Limketkai Complex is Mallberry Suites, arguably the most popular hotel in the city these days and is ofeten fully booked. They just finished their 3-building expansion last year.
Ayala Corp., one of the country’s best managed companies, has also forged a partnership with Floirendo-owned Anflocor for their property along CM Recto into a mixed use development. Centrio will open late this year together with the Kukun Hotel. At the back of the mall will rise Centrio Tower, a 23-storey condominium project with groundbreaking slated also late this year.
And just recently, after months of speculations and rumors, SM has confirmed that they have acquired the old Coca-Cola Plant to be converted into a mall. Right at the frontage of the property is Tune Hotel, a foreign investor. The large Agudo property adjacent to the plant was also rumored to be bought by SM.
Right between Centrio and SM is a rumored condominium undertaking of local developer Johndorf Ventures Corp. The success of its condo developments in the uptown area might have spurred the firm to invest further in the downtown area.
Just further southwest of the map is Vacation Hotel which is also rumored to be being purchased by a Manila-based investor.
To the right of Limketkai Complex is the newly acquired property by Filinvest Corp. which will be developed into a compound of mid-rise condominiums. Accordingly, they are also negotiating for the adjacent NMPSA shooting range which is being planned for a hotel development.
Not so far is the property of Pryce Properties Inc. I don’t know their plans but they’ve been selling their properties as advertised in the newspapers.
With all of these developments, there are two problems already existing and sooner, it might just be overtaken by the development: Traffic and Drainage!
Hopefully, these will be addressed as soon as possible.