The Padgett Place attracts Japanese, European buyers

CEBU, Philippines - As the construction of its 24-story condominium structure takes into full swing, The Padgett Place boasts of its earthquake-resistant designs, attracting buyers from the country and abroad.

The Padgett Place Marketing Consultant Gladys Ceniza said that Cebu Green Peaks Development, as its developer, is getting a strong interest from the Japanese and European citizens who are eager to migrate in Cebu to eventually reside in the city or to invest in Cebu.

Noting the trauma they had during the earthquake tragedy, she said that most of the Japanese love to stay in Cebu since it is not prone to such. While the emerging industries such as the business process outsourcing sector attracts a lot of European and Indian investors, Ceniza added that the booming economic hub fuels up the real estate industry.

“The thing that attracted our Japanese buyers is the earthquake-resistant design. As our engineer described it, the building will not break down as soon as the earthquake happens. It allows safe evacuation of the residents before it collapses, causing danger to the building but not to the lives of the people,” she stated.

With G&W Architects as its designer and Duros Development Corporation as its contractor, she further said that the connection of the steel bars, solid and concrete foundation and the site in its good soil are all planned out according to the intended design.

Meanwhile, Ceniza said that after its groundbreaking last year, the construction of the condominium reached 70% of completion, reaching until the 17th floor.

For every 10 days, she added that an additional level is put in place, having three additional floors completed every month.

She said that the construction progress within the schedule signifies their commitment to keep the deadline with their buyers.

She noted that the company is targeting the inauguration of the model units by the end of June or early July, the completion of the topmost level of the structure on October 2012 and the turn-over of units and entire completion on the last quarter of 2013.

With 65% of the units sold to date, she revealed that they added two floors, having an original number of 165 units to 185.

“We don’t have studios. We have lesser units in the floor. It’s a sprawling high-rise different from what we see. It’s contemporary in design but at the same time befitting Cebu as a place of history,” Ceniza said.

With the exclusivity in a strategic location in the city, she further said that most of the prospective buyers are successful Cebu businessmen, investors, chief executives, high-end families, foreigners from the European, Indian and Japanese market.

Sitting on one-third of the 3500 square meter-property, the tower is composed of a maximum of ten units in every floor with sizes from 45 square meters to 260 square meters and prices ranging from P4.7 million to P40 million with the 2-level unit garden villas as the most expensive.

Amenities of The Padgett Place include a lot swimming pool, poolside lanai, indoor and outdoor clubhouses, jogging trails and sky gardens from the 22nd to the 26th floor. —(FREEMAN)