The consular office of Korea in Cebu is organizing a trade mission to Korea this year, in partnership with the Cebu Chamber of Commerce and Industry (CCCI) to further promote Cebu and sell the condominium units here to the Korean market.
Consul of Korea to Cebu Augusto Go said that he is going to talk with the CCCI officers and members early this year to organize a trade mission to Korea, saying “we need to sell our condominium units to Koreans.”
Go, however, did not elaborate on the plan, as he is going to arrange a partnership deal with the CCCI.
Koreans, who are the number one market of tourism in Cebu, as well as in other parts of the Philippines, are also a good market for condo units.
In fact, most Koreans who are here to study, are the largest tenants of condominiums and apartments.
According to Go, Korea is a good market to tap for our condominium units, as interest of this market is very high.
Korean investors have started to invest in condominium and resort projects in Cebu, to take advantage of the high interest of Koreans to travel in tropical areas like Cebu.
The Korean-led Philippine BXT Corporation will soon open its five-star resort project in Mactan.
In an earlier interview with Philippine BXT Corporation chairman Yong Jun Park he said the project Imperial Palace WaterPark Resort and Spa will be opening soon, as it is way ahead of schedule.
The P3 billion resort project plans to develop a 616 room world class AAA resort consisting of six medium rise, three low-rise buildings, and 40 single units complete with amenities. The company also planned to develop complete recreational facilities inside the hotel complex which includes swimming pools, tennis courts, water-park, and ballrooms.
Aside from BXT Corporation, another Korean led company is currently building condominium facilities inside the Cebu Business Park (CBP).
The Fastem Housing and Development (FHD) is building a total of 200 high-end condo units for the Tower Place Residential Condominiums.
The FHD management, denying rumors that the project is experiencing financial hard-ups, said construction activities are now focused on the underground works.
ChaCha R. Rama, FHD marketing director, said that the Korean investors are still committed with the project, and there is no truth to the “rumors” that the Korean majority owners of Fastem are leaving the project. (EMD)