AppleOne considers expansion outside Cebu

PROPERTY DEVELOPER AppleOne Properties, Inc. is looking at growing outside its base in Cebu province as it is keeping a positive outlook for developments in Visayas and Mindanao areas.

“At this point, we are unable to disclose upcoming developments, but AppleOne group is working on expanding and growing our portfolio both in and outside Cebu,” AppleOne President and Chief Executive Officer Ray Go Manigsaca told BusinessWorld last week.

“We are taking advantage of the demand for hospitality, commercial, residential, and mixed-use properties and developments anchored on the positive outlook for growth in the VisMin region,” he added.

Mr. Manigsaca said several branded projects are in the company’s pipeline, one of which is a branded luxury development in Bohol.

Asked about why the company plans to expand outside Cebu, Mr. Manigsaca said: “AppleOne has quite established its footing in Cebu. With this, our main goal is to really expand and grow AppleOne group’s portfolio outside Cebu.” 

“We are continuously working with partner companies and global brands in bringing developments in and outside Cebu. As we grow and expand, and with the company’s wide range of property portfolio, we also aim to bring these developments and enrich the industries in the regions, particularly the VisMin area,” he added.

In the short term, the company is focusing on growing its existing portfolio and not looking at venturing into other property segments.

“Right now, we are channeling our energy in growing our portfolio in residential, hospitality, commercial, and mixed-use properties and developments anchored on the positive outlook for growth in the VisMin region,” said Mr. Manigsaca.

“Coming off from the pandemic, people are very much eager to travel and we’re banking on that in advancing our hotel or resort properties and developments, such as Sheraton and Mahi Center. As we continue to expand, we are also always on the lookout for new opportunities that are aligned with our business strategy and values,” he added.

In 2022, the company recorded a 152% sales growth, driven by sales in its The Residence at Sheraton Cebu Mactan Resort.

Meanwhile, the company is interested in doing an initial public offering.

“Entering the equity market is also in the pipeline. AppleOne is still looking into it. But as of now, we are more focused on our upcoming partnerships and projects that bring world-class facilities and properties in the regions,” he said.

AppleOne is a real estate company in Visayas with two residential, four commercial, four hotel and resort developments. It also has three healthcare facilities under its Apple medical group subsidiary. — Justine Irish DP. Tabile