AboitizLand remains bullish of Cebu's real estate market

CEBU, Philippines - Venturing into vertical and integrated residential developments, AboitizLand Inc. is bullish with the market as it is set to launch a new and fresh concept in condominium living, The Persimmon Studios.

The Persimmon which is the company’s first urban lifestyle community will be completed through its latest project component designed with fully-furnished studio units and professionally-designed interiors in Asian contemporary architecture.

AboitizLand Inc. Assistant Vice President for Marketing and Sales Audie Villa said that the company is confident to hit the launch target of 75 units within this month given with the 50 already sold-out units and inquiries they have received.

He also noted that The Persimmon Studios aims to target the market of both investors and end-users mainly comprising of business owners, working professionals, balikbayans, region-based families, Overseas Filipino Workers, seafarers and the design-conscious, single individuals who has the desire for easy-to-own and immediate move-in units.

He added that aside from varied financing schemes, it would also be a hassle-free idea for property investors who want their earnings to grow with an investment starting at P7 888 every month.

He further cited that the total project costs P730 million including the site development, building and amenities such as four elevators, two swimming pools, function rooms, clubhouse and basketball court.

Sitting in a land area of 4 434 square meters, the 16-storey building has a total of 632 units with 44 in each floor. The combinable studio units that are equipped with ready-to-use furniture and fully-functional appliances vary from 18.69 sq m, 24.50 sq m and 26341 sq m.

The construction is set to start on the third quarter of next year and will be completed and turned over on the third quarter of 2015. Model units will also be launched on July 9-13 of this year.

The company also revealed that two other project developments will be launched this year following the high-end lot-only Priveya Hills last March and the recent mid-rise condominium, The Persimmon Studios.

AboitizLand Inc. has created a lineup of communities designed to meet the varied needs of its vecinos, a Spanish word for neighbors and a term the company uses to refer to its clients and homeowners.

The Persimmon was launched in 2008 which marked the real estate developer’s first venture into vertical development.

The community sits on a 1.4-hectare property situated along M.J. Cuenco Avenue, Mabolo, Cebu City. (FREEMAN)