New condo developer
Contempo Property Holdings, Inc. was launched in Cebu last week and is developing聽 its聽 first project in Cebu located in H. Cortes street in Mandaue City.
Beverly Daynan, president and chief executive officer, said the pilot project will be a community of three-residential condominium towers in a one-hectare lot.
鈥淲e will be investing close to P1 billion and will produce an additional 800 affordable units for the middle income segment,鈥� he said.
Units will cost P1.5 million to P1.8 million each.
Dayanan said聽 they see a a growing demand for affordable and quality condominium properties in Cebu.
鈥淲e are starting with construction of the first tower and hope to launch another project after four years or by 2016,鈥� Dayanan said./Reporter Aileen Garcia-Yap
AMARA鈥檚 PHASE 5 :The Parks
Expect聽 new developments in the last phase of聽 the lighthouse community of聽聽 Amara in Liloan town, Cebu.
The Parks, which consists of 56 lots,聽 can be the last lot-only offering in Amara,聽 said Francis O. Monera, president of Cebu Holdings Iinc. in a photo exhibit that opened last week in Ayala Center.
The Parks is the fifth phase of Amara.
He said they are聽 redesigning plans for聽 the sixth phase which they expect to start developing next year.
鈥淭he Parks is currently 50 percent聽 complete and we should be able to complete development in the area by end of this year. The next phase should follow shortly and we will be putting in twists to the original plans,鈥� Monera said.
With many property聽 developers coming to Cebu, Monera said it鈥檚 important to remain competitive and keep聽 customers curious about their projects.
Monera said there鈥檚 still a demand for high-end projects like Amara in Cebu which showed a good take up in sales.
鈥淥ther properties have also started moving their inventories.聽 That only shows that people are buying. The demand is still there and we are negotiating for another high-end project in the northeast area,鈥� he said.
Monera said the project will be bigger than Amara in Liloan town聽 which measures 44 hectares./Reporter Aileen Garcia-Yap