Youth Movement
Property Report|August - September 2021
Young members of a storied family shift property development in Cebu forward with a smart, green commercial tower, rising tall above an heirloom estate
Al Gerard De La Cruz
Youth Movement

For more than 140 years, the Garcias and the Escaños have influenced trade and commerce in Cebu, with diversified interests in sectors ranging from electricity to interisland shipping. Now a new generation has propelled the patrician clan to the vanguard of property development.

JEG Tower @ One Acacia is the debut high-rise venture of JEG Development Corporation (JDC), the real estate enterprise by the descendants of business powerhouse Jose Escaño Garcia.

Pre-certified LEED Silver for core and shell, the grade A building represents a technological, sustainable leap for built spaces outside Manila. The 22-storey tower, designed by Casas Architects, recalls the Flatiron Building with its svelte profile, but with a diagonally slanting, tapered corner.

When Marko Sarmiento, Jose’s grandson and chief operating officer of JDC, performed strategic planning for the tower in 2015, vertical green building had not truly taken hold in Cebu yet. “We wanted to be known as the local developer that went green ahead of everybody else,” he says.

But the family has had quite the headstart, businesswise. Founding patriarch Don Fernando Escaño established in 1879 the enterprise Viuda y Hijos de F. Escaño Incorporada, which would later subsume the power distribution utility Visayas Electric Company (VECO).

JEG Tower @ One Acacia was built “with the Cebuano in mind,” says Ayla Gomez, Sarmiento’s cousin and brand manager at JDC. “We are mindful of our impact on the environment and to the future generations of Cebuanos.”

This story is from the August - September 2021 edition of Property Report.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the August - September 2021 edition of Property Report.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM PROPERTY REPORTView All
Singapore Starts To Swings
Property Report

Singapore Starts To Swings

Generous stimulus has saved the Lion City’s economy from disaster, and a percolating post-pandemic boom looks set to send the residential sector into overdrive

time-read
8 mins  |
August - September 2021
Natural Highs
Property Report

Natural Highs

With people seeking safe ways of re-engaging with the outside world, the pandemic has steered investment in key ski markets back on-piste

time-read
5 mins  |
August - September 2021
It's In Hua Hin
Property Report

It's In Hua Hin

A long-time favorite of Thai royalty and weekenders travelling from Bangkok, the famous beach town is adding some alluring new strings to its bow

time-read
3 mins  |
August - September 2021
Blues In The Blood
Property Report

Blues In The Blood

As China’s cities explode, its built heritage is often neglected. Hangzhou-based Bluetown Architects aims to redress that balance through its striking but functional work

time-read
6 mins  |
August - September 2021
Little Joy Soldiers
Property Report

Little Joy Soldiers

Real estate sales offices are reopening in Yangon, but banking problems, low confidence and oversupply mean a bleak outlook as the army seeks to entrench rule

time-read
4 mins  |
August - September 2021
Youth Movement
Property Report

Youth Movement

Young members of a storied family shift property development in Cebu forward with a smart, green commercial tower, rising tall above an heirloom estate

time-read
7 mins  |
August - September 2021
Gift From Above
Property Report

Gift From Above

Source Global is tapping into a renewable source— the sky—to supply drinking water to residential communities and commercial properties in Asia

time-read
6 mins  |
August - September 2021
Proptech Is Enhancing Efficiency And Human Experience
Property Report

Proptech Is Enhancing Efficiency And Human Experience

The pandemic has forced the real estate industry into a more meaningful embrace with technology after years of flirting with innovation

time-read
8 mins  |
August - September 2021
Legacy Of Handy, Individualistic Inventions
Property Report

Legacy Of Handy, Individualistic Inventions

The global crisis has caused unprecedented pain, but its extraordinary nature has seen it spawn a legacy of handy, individualistic inventions

time-read
1 min  |
August - September 2021
Wave Of Mutilation
Property Report

Wave Of Mutilation

Lockdown disruption, evolving working conditions and an exodus by offshore gaming operators have sent the vital office space sector in the Philippines into freefall

time-read
7 mins  |
August - September 2021