CEBU, Philippines - Boutique real estate developer, Marvel Communities Inc., is going to capitalize on introducing specialized projects for Cebu residential market by introducing exclusive theme communities within Metro Cebu.
For the last 15 years, the company has created powerful architectural themes designed to retain its character and appeal for generations.
Currently, Marvel has four exclusive developments, these are the Panorama—a community of high-end, low-density contemporary residences in Banawa, master-planned by world-known urban planner Palafox and Associates; the Banilad Place, a Spanish-inspired exclusive community of 14 units; the Tree House commercial complex in uptown area in the City, and the Tropical Garden community, also located in Banawa.
In an interview with Marvel Communities Inc., president Martin L. Qua, he said that the maturing real estate industry in Cebu, needs to have wide array of choices, and creating exclusive theme community developments, further make Cebu an attractive place to live.
So far, Marvel’s market for its four developments, are 70 percent local buyers—the affluent and well-traveled market, while a few retirees, Cua said.
At present, the company has over 5-hectare land-bank for its future developments, which will introduce another theme community concept that will attract its identified market group.
Despite the entry of giant residential developers in Cebu, Cua said it does not affect largely on the small players, in fact, their presence has push the maturity of the market, making Cebu as a legitimate cosmopolitan.
Thus, Marvel has decided to lead the introduction of personalized housing developments, in order get its niche market, which is not being shared by big developers in town.
The one-hectare Panorama urban residential resort project for instance, started some two and a half years ago, however, it has still to complete the building of sold house and lot packages, because constructing a personalized housing unit would take time.
Of the total 27 units available in Panorama project, Cua said about five to six units are left, which cost from P8 million to P20 million depending on the design and size.
“We are thinking of some new again. People who like more personalized housing projects are our niche market,” he said adding that although this market is not in large number but the company has already identified to capture this particular segment. — (FREEMAN)