Saturday, January 24, 2009
A CEBU-based real estate firm will launch five projects within the year to answer a strong demand for housing in Metro Cebu.
Primary Homes, formerly known as Commonwealth Estate Inc., will be spending at least P2.7 billion for its projects to be launched within the year.
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Ramero Espina, assistant sales manager, said Cebu’s tourism and business process outsourcing (BPO) industries have increased demand for various real estate products—from lots, houses and lots and condominium units.
“The high rental rates in Cebu is also (a factor) why there is strong demand for houses,” Espina said during the blessing and opening of the company’s satellite office at the Parkmall@168 in Mandaue City.
He added that students from neighboring provinces who come to Cebu City to study medical courses are also purchasing condo units or houses and lots instead of renting.
In the first quarter of this year, Primary Homes will launch three projects—the first being La Guardia Flats, a 14-story building with over 250 condominium units.
Groundbreaking
In a statement, Primary Homes’ president Stephen Charles Liu considers the La Guardia Flats “a testament to the synergy within the Primary Group.”
Next month, Primary Homes is expected to break ground at the project site of La Guardia in Barangay Lahug, to start the development of the condominium project.
Primary Homes will also be launching Casa del Rio, its latest house-and-lot offering in Talamban.
Casa del Rio is a pocket-size subdivision for the middle to lower high-end market.
The company will also develop Sunflower Place, a subdivision inspired by the success of 188 Sunflower Drive, which was sold out in a year, said Michelle Cutang, marketing supervisor.
Sunflower Place will have 24 townhouses ranging from 60 square meters to 150 square meters in floor area.
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