Urban Homes ushers in affordable condos

CEBU, Philippines - It’s time for ordinary, regular people to invest in the real estate industry, a realtor said.

8990 Housing Development Corporation President and Chief Executive Officer Jesus Atencio said that bringing the opportunity to own a condominium to a certain group of people who are actually shut out from such ownership can be done and should be done.

Offering a studio unit with an area of 25 square meters and pre-sold at around P850, 000, he added that such opportunity is being provided in a condominium development project called Urban Homes which is a medium-rise building series of 20 4-story condominium buildings.

Targeting the market composed of middle-class salary-earning Filipinos, Atencio clarified that the concept is not done for charity and they will keep on searching for more and more sites for mass housing.

“There’s more to life. For as long as there is a decent return of investment from our stakeholders, we will continue selling house and lots and condo units below P1 million,” he stated during the blessing and inauguration of Urban Homes in Tipolo, Mandaue City.

He noted that aside from owning a condo unit, buyers can either use their unit to live in or to rent it out and earn from it.

Considered to be the most affordable unit offered in the whole province, he further said that the first building composed of 80 units is already fully-sold out in a month.

He said that since Cebu City and Mactan are already saturated, Mandaue is an ideal place due to its convenience and accessibility given that it is the center of Cebu province.— (FREEMAN)