(The Freeman) Updated April 03, 2009 12:00 AM
CEBU, Philippines - Cebuano residential developer CLS Properties Inc. is looking at providing socialized housing products for Cebu to cater the less ventured market for less than P2 million house and lot package.
CLS Properties Inc., the developer of several pocket subdivisions in Metro Cebu, will soon offer socialized housing projects, specifically in Mactan, Minglanilla, and Mandaue areas.
CLS chairman Cesar L. Salimbangon said that simultaneous with the company’s thrust to aggressively invest into middle-income residential projects, the company will also give opportunities for families with limited income to own a house through offering socialized yet of quality housing units. In this way, the company could take advantage of the big market that could afford to pay easy monthly amortization.
Although becoming an urbanized city, Cebu still has good market for these kinds of projects, Salimbangon said. In fact, CLS recently launched its latest pocket-subdivision, the 1,000 square-meter Cielo e Terra in Capitol Hills, Cebu City.
Aside from Cielo e Terra, the company has also started several pocket housing projects in Cebu including two separate projects called East Ridge Residences, both in Mactan Island (Basak and So-ong areas), Green Valley in Cebu City, Pereville Subdivision in Mandaue City, and Matilde Condominium project in Ramos. All these projects are in partnership with property owners.
In the next few months, Salimbangon said the company is going to build more affordable house and lot products as its way of providing decent home living among average earners.
At present, the company is marketing some of their existing middle-range residential projects that capture the interest of middle-income earners, including bulk of OFW-funded purchases.
CLS is one of the pioneering developers that ventured into subdivision developments in far-flung towns in Cebu, such as the Solid Homes Subdivision in
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