Wednesday, October 12, 2011
ENCOURAGED by the fast sales take-up of Apple One Tower at Cebu Business Park, Apple One Properties Inc. plans to build another mixed-used development in Cebu next year.
"The plans are still on the drawing board. But we will be developing a commercial-retail and residential project by next year," said Apple One Properties Inc. vice-president for Operations Yvet Andalis, in an interview yesterday.Andalis said they are confident about the real estate market because of the thriving economy in Cebu. She said that despite the entry of major players in the market, they are still confident to capture a good market share, particularly in the office property, which she believes is still under-served.
She said the mixed-used project would be bigger than that of Apple One Tower. Its target launching will be next March.
"Although it is a bit scary considering that Cebu has faster pace than Manila in terms of development and we don't know which area will first experience a real estate bubble, we still brace ourselves and take the opportunity while it's still there," Andalis said.
Delivery
Apple One Properties Inc. is a new player in the real estate industry. Its flagship project is the 17-storey Apple One Tower, which will house office and residential units. The company purchased a 1,876-square-meter property at the Cebu Business Park and invested some P500 million for the development of the project.
According to Andalis, the project's delivery is within schedule. "The tower will be topping off next month. Our commitment is to deliver the units by December 2012, but we expect a partial turnover of units to owners by June or July," she said.
Apple One Tower will house 20 residential units and over 50 offices, mostly insurance and law offices. The tower's anchor tenant is the Equicom Group, a diversified conglomerate composed primarily of companies in information technology, healthcare and financial services.
Andalis noted that the fast sales-take up of their units was also buoyed by the prime address of the project. She said investors choose strategic locations like Cebu Business Park, which is Cebu's financial district.
Apple One Properties Inc. is affiliated with five other companies: Ven Ray Construction; Brickwall Construction and Development Corp.; Golden Bee International; Mandy Hotmix; Sunsky Development Corp.
Among its sister-companies are the Diamond Suites, Apple Tree Suites Cebu, Apple Tree Resort and Hotel in Cagayan de Oro and Boardwalk Residences.
Published in the Sun.Star Cebu newspaper on October 13, 2011.
Wednesday, October 12, 2011
ENCOURAGED by the fast sales take-up of Apple One Tower at Cebu Business Park, Apple One Properties Inc. plans to build another mixed-used development in Cebu next year.
"The plans are still on the drawing board. But we will be developing a commercial-retail and residential project by next year," said Apple One Properties Inc. vice-president for Operations Yvet Andalis, in an interview yesterday.
Andalis said they are confident about the real estate market because of the thriving economy in Cebu. She said that despite the entry of major players in the market, they are still confident to capture a good market share, particularly in the office property, which she believes is still under-served.
She said the mixed-used project would be bigger than that of Apple One Tower. Its target launching will be next March.
"Although it is a bit scary considering that Cebu has faster pace than Manila in terms of development and we don't know which area will first experience a real estate bubble, we still brace ourselves and take the opportunity while it's still there," Andalis said.
Delivery
Apple One Properties Inc. is a new player in the real estate industry. Its flagship project is the 17-storey Apple One Tower, which will house office and residential units. The company purchased a 1,876-square-meter property at the Cebu Business Park and invested some P500 million for the development of the project.
According to Andalis, the project's delivery is within schedule. "The tower will be topping off next month. Our commitment is to deliver the units by December 2012, but we expect a partial turnover of units to owners by June or July," she said.
Apple One Tower will house 20 residential units and over 50 offices, mostly insurance and law offices. The tower's anchor tenant is the Equicom Group, a diversified conglomerate composed primarily of companies in information technology, healthcare and financial services.
Andalis noted that the fast sales-take up of their units was also buoyed by the prime address of the project. She said investors choose strategic locations like Cebu Business Park, which is Cebu's financial district.
Apple One Properties Inc. is affiliated with five other companies: Ven Ray Construction; Brickwall Construction and Development Corp.; Golden Bee International; Mandy Hotmix; Sunsky Development Corp.
Among its sister-companies are the Diamond Suites, Apple Tree Suites Cebu, Apple Tree Resort and Hotel in Cagayan de Oro and Boardwalk Residences.
Published in the Sun.Star Cebu newspaper on October 13, 2011.
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