RHI senior vice-president and general manager Malu M. Alferez said the two new projects are Richmond Hills in Bgy. Camaman-an and Monte del Sol which is located along the Cagayan de Oro-Iligan National Highway.
"The property market in this region remains strong and the demand for homes is steadily growing. At present, we are catering to a wide and diversified market, which ranges from lower income groups for Monte del Sol while the Richmond Hills property is very attractive to the overseas Filipino workers, retirees and the middle income market," said Alferez.
To be sold as "lots only", Monte del Sol and Richmond Hills will be a gated community that will have a park and a playground and a multi-purpose activity center.
"We are going to develop the property to meet the housing needs of the work force population of Cagayan de Oro and the neighboring provinces. The development is located along the National Highway, making it very accessible to those blue-collared workers who are employed in nearby factories," Alferez said.
Just five minutes away, the eight-hectare Richmond Hills is a stone throw away from the commercial and business districts.
Average cuts with option for housing has been pegged at 150 square meters.
RHI has allotted P1 billion for its capital expenditures this year which include the launch of 10 new projects in key areas of Luzon and Mindanao.
Aside from Cagayan de Oro, the company will also build homes in Laoag, Davao, Cebu, Iloilo, Tagaytay, and Pampanga.