By Katlene O. Cacho
Monday, November 14, 2011
WITH the brisk demand for reservations in Buildings 1 and 2, developers of Amalfi Oasis will start pre-selling Building 3 units in the next two months, a top official of Filinvest Land Inc. said on Saturday.
During the Citta di Mare project update report, FLI first vice president and project head for Visayas and Mindanao Tristan Las Marias said construction of Building 3 is 70 percent complete. They hope to complete the building’s structural component by the end of this month.
“The developments of Citta di Mare are way ahead of schedule given the project’s brisk reservation sales,” Las Marias said.
Architectural works are ongoing on Amalfi Building 1. FLI is targeting delivery of units in the first quarter of 2012. Building 2, on the other hand, is expected to be delivered by the second quarter next year.
“In the case of Building 3, we have not opened the units for pre-selling yet, but we might start accepting reservations in the next two months,” he said.
Premium product
Las Marias said the fast sales take-up of the units can be attributed to the firm’s innovative product. “The Citta di Mare project is a premium product we are offering to the Cebuano market,” he said.
Amalfi Building 1 recorded brisk reservation sales of 90 percent while Building 2 is at 60 percent.
FLI started pre-selling last year. The firm hopes to get its license to sell from the Housing and Land-Use Regulatory Board (HLURB) this month. Once the firm gets its license to sell, Las Marias said they will start selling Amalfi Oasis to other areas in the Visayas and Mindanao.
Amalfi Oasis is the company’s first offering of mid-rise condominium units in Citta di Mare’s 40-hectare residential zone. Each nine five-storey buildings will have a mix of 150 two-bedroom units with 57 square meters of space priced at P5 million and three-bedroom units with 113 sqm of space priced at P10 million.
Las Marias said construction of the affordable housing component of Citta di Mare’s San Remo Oasis is on track and gaining popularity in the market.
Las Marias said the firm’s sales channels from Italy and Europe have been accepting reservations for the first two buildings.
San Remo offers one-bedroom (25 sqm) and two-bedroom (30 sqm) units priced from P1.8 million to P2.5 million. The firm expects completion of its Building 3 in October 2013. Another 158 mixed studio and two-bedroom (45 sqm) units in Building 7 will be turned over by July 2013.
Joint venture
San Remo Oasis and the Amalfi Oasis are part of the first and second phase developments of FLI under a joint venture with the Cebu City government.
FLI targets to turn over seven to eight combined residential buildings within the next two years.
Meanwhile, development of Citta di Mare’s seaside commercial complex Il Corso is expected to be completed by the first quarter of 2013.
Las Marias said completion of the complex will bring in an estimated 36,000 sqm gross leasable area with over 200 food and beverage and retail shop leasable units.
“The company remains bullish in the Cebu market. We are committed to provide quality product and we deliver on a timely manner,” Las Marias said.
Published in the Sun.Star Cebu newspaper on November 15, 2011.
Miyerkules, Nobyembre 16, 2011
Lapu, Megaworld sign deal
Friday, November 11, 2011
THE Lapu-Lapu City Government, through a joint venture with a real estate giant, plans to put up the city’s answer to Cebu City’s Asiatown IT Park.
Lapu-Lapu City Mayor Paz Radaza announced in a press conference yesterday that the City Government and Megaworld Corp. plan to construct the Mactan Town Center in Barangay Mactan.
Megaworld Corp. signed a memorandum of agreement with the City yesterday morning. The holding firm’s projects include mixed-use communities and office spaces for business process outsourcing (BPO) companies. A source privy to the Mactan project said the
development cost is projected to reach P2.5 billion.
Jericho Go, Megaworld first vice-president, told reporters the 16.8-hectare Mactan Town Center will be different from its counterpart in Cebu City, as it will not only cater to industrial and BPO companies, but also to commercial, leisure and even retirement services.
The town center will be overlooking the coast, Go said.
“All the successful ingredients to launch our project are in Lapu-Lapu City,” he said.
Go said they are also seeking accreditation with the Philippine Economic Zone Authority (PEZA) in order to declare their project as an economic zone.
Once the project starts operation, about 2,500 jobs will be created, particularly for those living in Lapu-Lapu City, Go said.
For now, some potential locators include Quantum Leap, Accenture, Hewlett Packard, Dell and IBM.
Go said they will develop the property in such a way that expansion will be easily facilitated.
As of now, a building is being constructed, and utilities like water, electricity and drainage are already in place, he said.
To meet electricity needs in the surrounding areas, Go said they have given a commitment to the Mactan Electric Company (Meco) to allow them to construct a power station within their project area.
The Metropolitan Cebu Water District (MCWD) has also committed to provide water supply in the project area and to provide a water truck in the event that a shortage occurs.
Radaza, for her part, said the project will be beneficial to the city government as it will not only create more jobs for her constituents but will also generate revenues for the City.
Published in the Sun.Star Cebu newspaper on November 12, 2011.
THE Lapu-Lapu City Government, through a joint venture with a real estate giant, plans to put up the city’s answer to Cebu City’s Asiatown IT Park.
Lapu-Lapu City Mayor Paz Radaza announced in a press conference yesterday that the City Government and Megaworld Corp. plan to construct the Mactan Town Center in Barangay Mactan.
Megaworld Corp. signed a memorandum of agreement with the City yesterday morning. The holding firm’s projects include mixed-use communities and office spaces for business process outsourcing (BPO) companies. A source privy to the Mactan project said the
development cost is projected to reach P2.5 billion.
Jericho Go, Megaworld first vice-president, told reporters the 16.8-hectare Mactan Town Center will be different from its counterpart in Cebu City, as it will not only cater to industrial and BPO companies, but also to commercial, leisure and even retirement services.
The town center will be overlooking the coast, Go said.
“All the successful ingredients to launch our project are in Lapu-Lapu City,” he said.
Go said they are also seeking accreditation with the Philippine Economic Zone Authority (PEZA) in order to declare their project as an economic zone.
Once the project starts operation, about 2,500 jobs will be created, particularly for those living in Lapu-Lapu City, Go said.
For now, some potential locators include Quantum Leap, Accenture, Hewlett Packard, Dell and IBM.
Go said they will develop the property in such a way that expansion will be easily facilitated.
As of now, a building is being constructed, and utilities like water, electricity and drainage are already in place, he said.
To meet electricity needs in the surrounding areas, Go said they have given a commitment to the Mactan Electric Company (Meco) to allow them to construct a power station within their project area.
The Metropolitan Cebu Water District (MCWD) has also committed to provide water supply in the project area and to provide a water truck in the event that a shortage occurs.
Radaza, for her part, said the project will be beneficial to the city government as it will not only create more jobs for her constituents but will also generate revenues for the City.
Published in the Sun.Star Cebu newspaper on November 12, 2011.
Cebu company to launch directory of real estate products nationwide
By Katlene O. Cacho
Wednesday, November 2, 2011
A CEBU-based real estate brokerage firm is set to launch what it described as the country’s widest property directory, which will feature about 3,000 products.
In a statement, Leuterio Realty and Brokerage founder and president Anthony Leuterio said the online brokerage directory will provide information on different property inventories throughout the country.
Leuterio said the country’s real estate industry is dynamic and there are a lot of local and foreign buyers constantly looking for good properties.
He said the directory will also provide potential buyers a wide array of real estate products, from condominiums, commercial buildings, resort homes and properties, high
to middle-end subdivisions and lot-only packages.
Apart from the online directory, the company will also produce a magazine directory that will be made available in the market.
Visayas, Mindanao
Leuterio said he will also strengthen the presence of his company in the Visayas-Mindanao area by opening branches in Cagayan de Oro City, Davao, Zamboanga Peninsula, Bohol, Dumaguete, Iloilo, Bacolod, and Leyte. He said he is projecting to tap at least 100 to 200 agents per city.
In a recent briefing, Banco de Oro chief market strategist Jonathan Ravelas said given the country’s strong domestic liquidity and the growth of business process outsourcing and surge of overseas remittances, the country’s real estate industry would continue to grow in the next three years.
“The country still has a huge housing backlog that needs to be addressed,” Ravelas said.
He said developers should take advantage of the economic situation now, taking into consideration the economic problems of Europe and the United States.
“Investments are geared towards Asia, so developers should see more opportunities because of this,” Ravelas said.
He said that so long as the population and consumer spending will continue to grow, the demand for housing and property developments will continue to increase.
Leuterio, whose company also maintains a different website portal to promote real estate inventories in Cebu, said the country is now experiencing an all-time-high in interest in real estate.
Despite the entry of more developers, especially of condominiums and subdivision projects, Cebu still has a shortage of middle and low-income residential units, he said.
“Affordability is still the priority consideration among buyers,” Leuterio said.
He said Cebu properties are priced higher than that in Manila, especially condominiums, raw lots and house and lot.
Published in the Sun.Star Cebu newspaper on November 03, 2011.
Wednesday, November 2, 2011
A CEBU-based real estate brokerage firm is set to launch what it described as the country’s widest property directory, which will feature about 3,000 products.
In a statement, Leuterio Realty and Brokerage founder and president Anthony Leuterio said the online brokerage directory will provide information on different property inventories throughout the country.
Leuterio said the country’s real estate industry is dynamic and there are a lot of local and foreign buyers constantly looking for good properties.
He said the directory will also provide potential buyers a wide array of real estate products, from condominiums, commercial buildings, resort homes and properties, high
to middle-end subdivisions and lot-only packages.
Apart from the online directory, the company will also produce a magazine directory that will be made available in the market.
Visayas, Mindanao
Leuterio said he will also strengthen the presence of his company in the Visayas-Mindanao area by opening branches in Cagayan de Oro City, Davao, Zamboanga Peninsula, Bohol, Dumaguete, Iloilo, Bacolod, and Leyte. He said he is projecting to tap at least 100 to 200 agents per city.
In a recent briefing, Banco de Oro chief market strategist Jonathan Ravelas said given the country’s strong domestic liquidity and the growth of business process outsourcing and surge of overseas remittances, the country’s real estate industry would continue to grow in the next three years.
“The country still has a huge housing backlog that needs to be addressed,” Ravelas said.
He said developers should take advantage of the economic situation now, taking into consideration the economic problems of Europe and the United States.
“Investments are geared towards Asia, so developers should see more opportunities because of this,” Ravelas said.
He said that so long as the population and consumer spending will continue to grow, the demand for housing and property developments will continue to increase.
Leuterio, whose company also maintains a different website portal to promote real estate inventories in Cebu, said the country is now experiencing an all-time-high in interest in real estate.
Despite the entry of more developers, especially of condominiums and subdivision projects, Cebu still has a shortage of middle and low-income residential units, he said.
“Affordability is still the priority consideration among buyers,” Leuterio said.
He said Cebu properties are priced higher than that in Manila, especially condominiums, raw lots and house and lot.
Published in the Sun.Star Cebu newspaper on November 03, 2011.
Hanaya doing well, says Aboitizland
Thursday, October 27, 2011
ABOITIZLAND’S latest project, the Hanaya Resort Residences, is gaining popularity in Cebu’s property market since it officially launched last Friday, an official said.
Aboitizland Inc. sales manager Grace Lepiten said the project is “gaining popularity” with 50 percent of the letters of intent converted into reservations. She said sales are coming from an even mix of the international Filipino market, early nesters and retirees.
“There are apparently other factors that affect sales of residential units – locations, design, amenities, among others – but the sales level that we achieved in the first month of Hanaya’s introduction is an indicator of a healthy property market at present,” Lepiten said.
She said innovative condominium developments are “very encouraging” in the property market.
Hanaya is the company’s latest mid-rise condominium project. It is located in a 5.2-hectare property in Barangay Canduman, Mandaue City. Officials said the property has a resort theme.
Hanaya’s Phase 1 construction is scheduled to be completed by the second quarter of 2013 and will have four six-storey residential buildings with about 400 condominium units.
Among the unit types are standard, deluxe and suite units in two-or-three bedroom designs.
Aboitizland has set aside P750 million as total investment for Hanaya’s Phase 1 construction.
The project’s amenities include two pools, pavilion and gazebos, themed gardens and parks, barbecue stations, exercise stations, jogging trails, basketball court with benches, clubhouse, function rooms, gym, game room, karaoke rooms and playroom.
Aboitizland will start site construction in the first quarter of 2012 with delivery of units and amenities scheduled in 2013.
Published in the Sun.Star Cebu newspaper on October 28, 2011.
ABOITIZLAND’S latest project, the Hanaya Resort Residences, is gaining popularity in Cebu’s property market since it officially launched last Friday, an official said.
Aboitizland Inc. sales manager Grace Lepiten said the project is “gaining popularity” with 50 percent of the letters of intent converted into reservations. She said sales are coming from an even mix of the international Filipino market, early nesters and retirees.
“There are apparently other factors that affect sales of residential units – locations, design, amenities, among others – but the sales level that we achieved in the first month of Hanaya’s introduction is an indicator of a healthy property market at present,” Lepiten said.
She said innovative condominium developments are “very encouraging” in the property market.
Hanaya is the company’s latest mid-rise condominium project. It is located in a 5.2-hectare property in Barangay Canduman, Mandaue City. Officials said the property has a resort theme.
Hanaya’s Phase 1 construction is scheduled to be completed by the second quarter of 2013 and will have four six-storey residential buildings with about 400 condominium units.
Among the unit types are standard, deluxe and suite units in two-or-three bedroom designs.
Aboitizland has set aside P750 million as total investment for Hanaya’s Phase 1 construction.
The project’s amenities include two pools, pavilion and gazebos, themed gardens and parks, barbecue stations, exercise stations, jogging trails, basketball court with benches, clubhouse, function rooms, gym, game room, karaoke rooms and playroom.
Aboitizland will start site construction in the first quarter of 2012 with delivery of units and amenities scheduled in 2013.
Published in the Sun.Star Cebu newspaper on October 28, 2011.
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