Camella launches first Visayas Condo Homes project in Mactan

By Mia A. Aznar

Friday, December 2, 2011

WITH already six units sold, officials of Camella Homes are hoping their latest development in Mactan will have a market of its own.

Myra Lynn Gelig, Camella North general manager, said the Condo Homes is a new concept that Camella introduced last July to provide condominium-type dwellings that have the same feel as a house and lot unit.

This is the first Camella Condo Homes project in the Visayas, and Gelig said they are looking forward to building more.

The mid-rise project has three floors and one building has just 51 units composed of studio, one-bedroom, two-bedroom and three-bedroom variants. There are also plans for a second building.

Gelig said their latest project is designed to give the owners the “familiar” sense of a home, which is why the building has a few units.

The rooftop has a garden and comes with drying cages for each unit, which owners can also turn into a storage unit.

The front part of the first floor of building also has slots for commercial units while the lower ground level will be made into a parking lot.

“These new units will be like our existing home projects, but in a building,” she said.

Gelig said the two-hectare property and the entire project cost the company some P180 million.

She admitted that their promotions for Filipinos and retirees abroad paid off, with some of them being the first buyers of their units.

Prices range from P1.6 million to P4.5 million and areas from 25 square meters to 72 square meters.

Launched Thursday, the condominium units are being sold as dwellings for the independent professional, the rising entrepreneur, a happy retiree and an active family.

The concept was demonstrated in a fashion show that featured a collection by Dexter Alazas.

Those who reserved units that night were given prizes, from a designer wardrobe by Dexter Alazas to smartphones and tablet computers.

Construction is set to begin in May next year while buyers will be able to move in by June 2013.

Published in the Sun.Star Cebu newspaper on December 03, 2011.

Taft Property reports brisk sales in landmark Horizons project

Friday, December 2, 2011

THE Gaisano-led Taft Property’s Horizons 101, touted to be Cebu’s tallest landmark, officially broke ground on Tuesday to signal the start of the construction of its Tower 1.

A top official of the firm said Tower 1 is over 50 percent sold out. Most of its buyers are from the locals here and from neighboring islands in the Visayas.

Taft Property Ventures Development Corp. chief operating officer Manuel Colayco said the fast sales take-up of the project was buoyed by Cebu’s big, underserved market for residences.

Colayco said Cebu Province has an unserved requirement of 167,000 units for the middle-income category, for house units with prices ranging from P1.25 million to P3 million.

Taft Property started selling their condo units in March this year.

Horizons 101 is the firm’s first vertical project. The project, which is located along Gen. Maxilom Ave. in Cebu City, has a total of 1,468 units. The 55-storey Tower 1 will house 868 units, while the 46-storey Tower 2 will have 600 units.

Price range

Taft Property has earmarked P1.7 billion for the development of Tower 1. The company is expected to spend close to P3 billion for the combined development of the two towers.

The delivery of Tower 1’s units is set in the first quarter of 2015. Unit prices range from P1.7 million to P5.79 million.

Asked about the firm’s outlook in the real estate industry, Colayco said Cebu is a promising market despite the challenges brought about by some external factors.

But he stressed the company remains conservative in its forecast, and the launch of Tower 2 will depend on sales performance for Tower 1 and the conditions of the world economy are ready,” Colayco said.

Colayco also announced the company will keep on developing residential communities in Cebu.

Among the plans is to build a horizontal development in a 14-hectare property in Marigondon, Mactan which will be called Green Island Residences. The project will house about 400 units.

Colayco said this residential project will be launched early next year. The company is currently negotiating with lot owners.

Interests

“We are looking at P200 million to P350 million as initial investment of the project,” he said.

Taft Property is the real estate arm of Vicsal Development Corp. that also manages the Metro Chain of stores, Vicsal Investment Inc., Wealthbank, Vicsal Securities and Stock Brokerage Inc., Filipino Fund Inc., Prime Asia, Grand Holidays and Vicsal Foundation.

Among Taft Property’s successful developments are Palmas Verdes, Nichols Park, Palm Heights Subdivision and Hacienda Salinas. KOCUs At ex

Published in the Sun.Star Cebu newspaper on December 03, 2011.