Firm unveils Mandaue project

By Katlene O. Cacho

Sunday, December 4, 2011

DESPITE numerous residential developments in Cebu, homegrown property developer Maria Luisa Properties said it is optimistic it would get a good share of the market with the announcement of its latest premier development, The Heritage, in Jagobiao, Mandaue City.

“We have been a pioneer in gated residential community here in Cebu. We know the Cebuano market well and their preferences when it comes to building homes. Cebuanos may be frugal but when it comes to homes, they (buyers) spend more than luxury,” said Annie Aboitiz, general manager of Maria Luisa Properties.

The Heritage sits on a 13.6-hectare property in Jagobiao, which Aboitiz said is the Osmeña’s family farm, Hacienda Mandaue. The property will be converted into a high-end subdivision with over 200 lots.

Lot prices range from P9,000 to P12,000 per square meter. Since it started selling this month, the firm has already sold six lots.

Aboitiz said The Heritage will have a well-designed and environment-friendly infrastructure and amenities such as a clubhouse and swimming pool; a fishing pond and parks and tree-lined streets.

Unlike other residential developments today, Aboitiz said that what sets this project apart is the completion of its roads and utility infrastructure. Construction of the clubhouse and the fishing pond is also underway.

Aboitiz said buyers can now start building their homes with ease and convenience. The Heritage requires a minimum ceiling of P2.5 million with maximum house height of nine meters.

To make the project an ideal place to live in, Aboitiz said they have retained the trees in the area and even planted 250 more trees. She said she will also be planting Palawan cherries.

Asked if the company will build more vertical projects, Aboitiz said Cebu is already saturated with condominium projects and the firm will focus on building horizontal real estate projects for Cebuanos instead.

Maria Luisa Properties was founded by Mary Renner Osmeña. Its first project was the 10 -hectare high-end Maria Luisa Estate Park, which expanded to 200 hectares of prime residential property.

Among its other projects in Cebu are The Highlands, Red Stone Village, Dancing Sun Subdivision, Maryville Subdivision, Maryville Heights, Casili Hills Subdivision, Mahogany Place, and 8 Maria Luisa.

Published in the Sun.Star Cebu newspaper on December 05, 2011.