Cebu City is eyeing a P10-billion investment for its creative district.
The Cebu City Creative District project, led by the City Planning and Development Office (CPDO), aims to attract significant investments and generate substantial revenues for the city.
“The Cebu City Creative District has the potential to be a game-changer for Cebu’s economy. We are confident that with the right partnerships and investments, this project will solidify Ce bu City’s position as a premier creative destination in Southeast Asia,” said CPDO assistant department head Anne Marie Cuizon.
The global creative industry is a massive market, generating $90 billion annually. With the Cebu City Creative District, the CPDO aims to generate P30 billion revenues annually by 2030.
The district, envisioned as a mixed-use development spanning 40 to 60 hectares, will be built through public-private partnerships (PPP). The CPDO is actively seeking investors to participate in the project.
The project will not only attract investment but also foster a collaborative environment for creative businesses, the CPDO said.
Companies focused on filmmaking, entertainment, cultural arts, design, and architecture are prime targets.
“Cebu already has a strong fashion sector, but currently lacks a central hub for these industries to work together and flourish. The district aims to bridge this gap by creating a space where creative minds can connect and drive innovation,” said Cuizon.
The creative district also plans to offer enhanced services and amenities to attract visitors, presenting additional investment opportunities in tourism-related businesses.
The CPDO will register the project with the Philippine Economic Zone Authority (PEZA) for potential tax incentives.
The CPDO started engaging potential investors and held presentations to international organizations with connections to investors in the creative sector. It also submitted proposals to various stakeholders.
