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Property firm to build 500 houses in Cebu
Paramount to invest P45M for Vizkaya

A LOCAL real estate developer is aiming to add at least 500 residential units in Cebu in the next two years as it introduced its third house and lot project in Minglanilla town in Southern Cebu.

Arli T. Arenas-Vergara, sales and marketing head of Paramount Property Ventures, said the Minglanilla project called the Viskaya Zen Residences, would be part of the firm’s expansion plans for Cebu.

Vergara said the firm was very confident of the Cebu market based in its experience with its three pasts projects – Coral Bay, Fonte di Versailles, and Mazari Cove.

“Our Coral Bay project with 74 units is sold out, Fonte de Versailles has 232 units and about 65 percent of that is sold while our Mazari Cove with 400 units is 80 percent sold out.” She said.

Their new project called Vizkaya Zen Residences will have 121 units located in a 2.2 hectare property in Calajaan, Minglanilla, Cebu.

“All our existing projects are located in Naga and Minglanilla which are south of Cebu because the owners are from Minglanilla and they are also very confident about the prospects of developing projects in the area because of South Road Property,” she said.

Vizkaya Zen Residences will be the first residential project in Cebu that will feature a Basic Intrusion Alarm System provided by SSMI or Security and Systems Monitoring, Inc.

“With this project we hope to attract the higher middle class market,” she said.

The firm is also targeting expats, foreign nationals and overseas Filipino workers for their three project in Cebu.

Mar Relampagos, a company official, said the Cebu real estate industry was expected to continue growing with more players coming in to introduce their products to the Cebuano market.

“Based on the data from HLURB (Housing and Land  Use Regulatory Board) there are about 45 more projects applying for permits here in Cebu, which only shows how confident developers are about the market” Relampagos said.

He said this was the reason for the expansion of 500 residential units on top of the 1,000 units provided by its three other projects.

Roy Vincent Lumayag, another company official, said they were studying plans to go into the condominium market.

“We are still looking at the plans and negotiating with land owners as of this time but we will definitely go into vertical projects  perhaps in 2013,” said Lumayag.

The firm also plans to expand outside Cebu particularly in Bohol and Davao, which have growing real estate markets.

“While Cebu remains an attractive market to tap, we thought that we can also start expanding outside to also offer our products to the huge and still untapped market in these areas,” Lumayag said.

He said the expansions outside Cebu might happen next year.

REPORTER AILEEN GARCIA -YAP

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Primary Homes unveils Astele, community in Mactan Island

Tuesday, July 30, 2013

CEBU-BASED property developer Primary Homes, Inc. (PHI) unveiled on Friday its seventh project in Mactan Island this year, a suburban community designed to complement the local tourism sector.Following Alegria Palms Uno, Brookfield and Collinwood, PHI launched Astele, an exclusive gated housing development of 64 single detached units in a three-hectare lot on Buyong Road in Barangay Maribago, Lapu-Lapu City.Six model houses were showcased, namely Myrtle, Hazel, Mahogany, Aspen, Linden and Lombardy. Floor areas and lot measurements range from 56 to 288 square meters and 150 to 251 square meters, respectively. Each house and lot combo is sold for P3 million to P15 million.“The development is nestled in Mactan to reflect the island’s modern and vibrant international community,” said PHI vice president for sales and marketing Ramero Espina.Espina said that based on PHI’s latest market study, Mactan has emerged as a progressive address or a second-home destination sought after by long-stay tourists like Koreans, Japanese and Europeans. He said majority of these foreigners intend to move to Mactan for investment or retirement purposes.

“Lapu-Lapu’s preserved nature and culture and also its developing modernity lure visitors to come. There’s no stopping the growing affluence of foreigners to the city or to Cebu province in general. Eventually, the industry is a primary recipient of the upbeat tourism in southern Philippines,” Espina said.

Espina identified the Mactan-Cebu International Airport as the “ground zero” for Cebu’s commerce and “gateway to business opportunities.”

According to Espina, Astele is included in the P1.5-billion budget for PHI’s seven projects in Mactan for 2013. He said the company, which has about 23 existing subdivisions and eight condominium developments in Cebu, is targeting one project a month to match the evolving demands of the market.

Astele is set for completion in 18 months. Officials said the subdivision bears the concept of Asian contemporary living and displays a clean minimalist approach in its exterior. Architectural features include floating steps on a Zen pond, huge windows and upper verandas. Its amenities include a fitness gym, swimming pool and playground.

Espina said PHI is looking into the tourism sector as a market for the company to focus on. He said Astele will test the market in the north.

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