A Cebu-based real estate developer that is aspiring for an initial public offering (IPO) is launching a project in Cagayan de Oro, its first foray into the lucrative Mindanao market.

AppleOne CEO and President Ray Go Manigsaca said that his company sees Cagayan de Oro (CDO) City as a strategic area for expansion that will fortify the company’s presence beyond the Visayas.

Also, AppleOne aims to contribute to the development of CDO as a prime city outside Metro Manila, and to take advantage of the city’s reputation as an up-and-coming premier tourist destination in the south.

“This is all set and we are ready for Cagayan De Oro. CDO is a prime location for our expansion efforts in Mindanao, its rich culture and natural tourist attractions make it a great destination hotspot for tourists,” said Manigsaca.

However, no specific plans yet were divulged on the company’s venture and investment in Cagayan de Oro.

“CDO being called the City of Golden Friendship for decades now reflects the hospitality of its people–they’re warm, friendly, and represents the unique brand of Mindanaoan hospitality that the world deserves to see and experience,” Manigsaca added.

AppleOne is known for bringing luxury hotel and residences development and amenities into the regions outside of Luzon, is the developer behind Sheraton Cebu Mactan Resort in Cebu, the company also broke ground in Panglao, Bohol December last year the province’s first ever 5-star luxury hotel and residences and is set to inaugurate Mahi Center and Fairfield by Marriott in Mactan Island by the latter part of this year.

AppleOne’s entry into Cagayan De Oro is well-timed, as Mindanao’s property industry is experiencing robust growth. CDO is also seeing a surge in both residential and commercial developments, driven by increased investor confidence and the local government’s push for infrastructure improvements.

Tourism in CDO is also on the rise becoming a key destination for both local and international travelers, fueled by its rich cultural heritage, adventure tourism offerings, strategic urbanized location, and local government support.

“With the city’s rapid growth, we see great potential in contributing to the local economy and further boosting the region’s tourism sector. Our new property will not only offer world-class amenities, but also generate employment opportunities for the local community, and attract more tourists and investors into the region,” Manigsaca stated.

If AppleOne launches its IPO, it will be the second Cebu-based real estate developer to list its shares at the Philippine Stock Exchange (PSE).

The first Cebu-based land developer to list at the PSE is Cebu Landmasters Inc. (CLI) that has programmed P14.5 billion in capital expenditure this year for various projects, including a development in Luzon.

In April this year, Manigsaca said that AppleOne is getting ready for an IPO.
(Photo from AppleOne website)