Company starts work on 2nd tower

By Nancy R. Cudis
IN response to the strong demand for condominium units, property developer AboitizLand Inc. started building the second tower of its first residential condominium development this month.
While construction is going on, the real estate arm of the Aboitiz group is already pre-selling units of Persimmon North, the second of the four towers composing The Persimmon in Mabolo, Cebu City.

AboitizLand marketing manager Leorelei Ylaya said there is still a huge potential market for Persimmon North, following the fast sales take-up of the first tower, Persimmon West.

Persimmon North is already 15 percent complete while the West tower is already 38.59 percent complete. Ylaya said they are on target.

Turnover of the West and North Tower units are set for third quarter of 2010 and fourth quarter of 2011, respectively.

Persimmon North, which will be formally launched next week, is comprised of 157 residential units, studio, one- and two-bedroom, and loft units, in Asian contemporary design. It will have its own administration and security offices as well as function and boardrooms.

“The main difference between the North and West tower is that the North has maid’s quarters in its two-bedroom units. This (feature) is what the market demands,” said Ylaya.

Prices range from P1.8 million to P2.4 million for studio units, P3.1 million to P4 million for one-bedroom units, and P5 to P6 million for two-bedroom units.

“We are now (offering) pre-selling prices. After the launch, we might increase them,” said Ylaya.
The Persimmon, the firm’s 15th project, stands on 1.4 hectare of prime property in M. J. Cuenco Ave., Mabolo, Cebu City.

According to its management, its “impressive” uptake is attributed to its combination of strategic location, amenities, and “value-for-money” construction.

The urban village’s commercial-entertainment strip, called The Persimmon Plus, will be launched before the end of 2009.

It will house more than a dozen concessionaires, including a coffee shop, dental clinic, laundry shop, food outlets, salon, spa, and services.