A WHOLLY Cebuano real estate company positions itself as a pocket-size subdivision developer, believing that many Cebuanos prefer to live in house-and-lot units instead of condominiums.
With pocket-sized subdivisions, CLS Properties targets families who want to live in Cebu City, as well as professionals and executives who need to live near their workplaces.
Pocket subdivisions are small projects that have a limited number of house and lots or lot only units and are considered to be a more manageable community.
Managing director Ken Salimbangon said, though, that CLS Properties also have condominium projects—Matilde Homes in F. Ramos St. and Pereville Residences in Mandaue City—but these attract a different kind of market, specifically expatriates who are married to Filipinos. The Matilde Homes and Pereville Residences are also joint ventures undertaken by CLS Properties with the landowners.
With smaller subdivisions, Salimbangon said, the delivery and completion timeline of the project is faster compared to big developments.
This also allows the company to tap customers who are in a hurry to move in.
“For big developments, the tendency is a (longer time) for delivery,” Salimbangon said in an interview.
Last Saturday, CLS Properties launched its latest project—the Cielo e Terra—located at East Capitol Road in Cebu City.
Cielo e Terra (heaven and earth in English) offers 12 townhouse units that are priced at a minimum of P4.7 million during pre-selling. In April, CLS Properties announced that prices will go up by P200,000 during the regular selling period.
Units at the upscale subdivision are available through bank financing.
The development of Cielo e Terra, which covers 1,212 square meters, started last December and is projected to be completed in the second quarter of 2010.
There are two types of townhouse units at Cielo e Terra. One is a two-story unit with basement covering a floor area of 163 square meters. The other is a three-story townhouse with a floor area of 196 square meters.
Both models have a land area of 70 square meters, have three bedrooms with terrace, three toilet and bath, powder room, maid’s room, two-car garage, as well as laundry and service areas.
Cielo e Terra will have a 24-hour security service, automated entrance gate with remote control, concrete perimeter fence, landscaped entrance, underground connection for electricity, telephone line and cable, drainage system and a wading pool with a barbecue and function area.
CLS Properties has two other housing projects in Lapu-Lapu City, where the company plans to develope a socialized housing project.
Salimbangon said the company is also on the lookout for small properties within the city. (DME)
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