Monday, 26 November 2012 | Sun Star Cebu
FOLLOWING the success of its flagship project in
Cebu Business Park, real estate firm AppleOne Properties, Inc. is going to
invest P2 billion on a residential project in Good Shepherd Road in Banawa that
it is projecting to complete in five years.
AppleOne
Properties, Inc., Executive Vice President, YVET V. ANDALIS said the new
project, which sits on a 2.8-hectare property in Banawa, will have three
residential concepts with a total of 1,311 units.
The project,
called AppleOne Banawa Heights, will have six three-storey mansionettes, 10
four-storey- villas and three 12-storey towers that are divided into private
clusters to provide residents privacy and exclusivity. Residents will only have
two to five neighbors for each floor.
Andalis said
AppleOne Banawa Heights is inspired by residential units found at the San
Francisco Bay Area Pacific Heights in California. The units will have Victorian
themed house designs.
Demand
Andalis said
that apart from Cebu’s booming economy, the continued demand for housing,
specifically in the vertical category, prompted them to embark on another
project.
AppleOne Properties, Inc. is a homegrown company
managed by a group of Cebu-based construction companies. Among its
sister-companies are the Diamond Suites, Apple Tree Suites Cebu, Apple Tree
Resort and Hotel in Cagayan de Oro and Boardwalk Residences.
CBRE Philippines earlier reported that the
expansion of multi-national companies and the inflow of more outsourcing and
off-shoring companies are keeping the housing demand strong in the Philippines.
CBRE chairman Rick Santos said the positive outlook
on the country’s economy, complemented by the healthy investment environment
and low interest rates, are key factors in buying homes especially by overseas
Filipino workers.
He said the Philippines has the lowest interest
rates and best financing schemes for home ownership today at the range of five
percent to 11 percent for short or long-term payment schemes. He said this has
opened opportunity for more Filipinos to become owners rather than renters.
Alternative
“Our
investments are geared towards demand-driven projects. What we are building is
a community that is a good alternative condominiums…we are revolutionizing the
housing experience, given the three residential concepts in one gated
community,” Andalis said in an interview last Friday.
As soon as the company secures the necessary
permits, they might begin construction by next year. Andalis said they will
initially build 570 units, which include 292 units for the towers, 48 units for
mansionettes and over 200 units for villas.
The construction will be done in three batches. The
first batch will be turned over after two years of construction.
The firm’s primary target markets are end-users
that belong to the mid-market segment category. Andalis said they will also
target Pag-ibig members who have not invested on housing yet.
Residential units for the towers are priced from
P1.3 million to P3.1 million; villas at P2.5 million to P2.9 million; and
mansionettes at P3.6 million to P4.2 million.
Among its amenities include pocket retail shops,
swimming pools and pocket gardens. The company has also allotted 70 percent of
its development for open space.
For more Project Briefing & Investment Offer, contact us at +639173236123. or click this link Appleone Banawa Heights
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