AboitizLand unveils new urban village development

Eyeing the strong demand for high density living in Cebu’s emerging urbanized metropolis, Cebu’s major real estate developer Aboitizland has started construction of their fist vertical project which is an urban village called The Persimmon.

AboitizLand’s chief operating officer Andoni Aboitiz recently announced the start of the construction of The Persimmon, a 1.4 hectare area that will host a themed community consisting two components: a commercial neighborhood and a residential enclave with four mid-rise condominium towers: east, west, south and north.

Aboitiz said that the site clearing has been completed on the former Cebu Oxygen and Acetylene Corporation (COACO) building and that construction of their West Tower, which will have 157 units with 15 levels will be started in the second quarter of 2008 and its units will be turned over to homeowners within two years.

The Persimmon will be a complete commercial and residential development situated within minutes from economic hubs within the city as well as places of worship, historical sites and academic institutions, said Aboitiz.

“The new condominium project is the definition of city living- it is a place where you will love to live. It espouses a more Asian feel than the usual developments. The units are very attractively priced with big discounts and several financing options that vecinos (homeowners) can enjoy,” Aboitiz said adding that the company will be investing close to a billion after all the components of the project are done.

The units are priced from P1.5 million for a studio unit, until P8.2 million for loft-type units. A ten percent discount on spot cash payments are offered by Aboitizland and a stretched cash payment scheme wherein interested buyers can pay for a unit for over 24-month term, on zero interest. There are also balloon payment option or lump sum payment schemes.

Meanwhile, The Persimmons’ commercial development is targeted to be operational on the first quarter of next year. It will host a themed neighborhood commercial strip accommodating food stalls, a convenient store, restaurants, coffee shops, recreational and entertainment facilities such as restobars and videoke bars as well as the company’s sales office. It will cater not only to its residents but as well become a destination for all Cebuanos, said Jojo Rafaeles, Aboitizland sales manager.

“The Persimmon will revolutionize the definition of city living. Vecinos will enjoy convenience of accessibility--- having restaurants and entertainment and shopping destinations right downstairs or next door from where they live--- and the assurance of living in a high-quality community,” he added.

AboitizLand vice president for sales, marketing and customer service Pia Mantecon explained that the project’s identity will be closely linked to the historical and environmental relevance of the mabolo tree, which the project was named after as well as AboitizLand’s dedication to the Cebuano heritage.

The project is designed by award winning architects from Recio + Casas and structural development will be provided by international constructors, R. S. Ison and Associates. Whereas mechanical and plumbing consultancy is provided by Isagani M. Martinez and R. A. Mojica and Partners will provide electrical engineering consultancy.

Part of the design team is renowned light designer Christine Sicangco Lighting Design, Inc which project includes the Washington International Airport, Calvin Klein showroom and SM Megamall. For the project’s greenscapes, PGAA Creative Design was appointed as its landscape architects which is famous for projects like the Rockwell, Edsa Shangri La, Banyan Tree Group in Indonesia, Hainan Mandarin, Sutera Harbor Project in Kota Kinabalu, and the NTUC resort in Sentosa, Singapore. —Rhia de Pablo