Gaisano Capital introduces SOHO concept in project

CEBU, Philippines - Riding on the real estate boom in the metropolis, a property developer introduced the unique small office-home office concept in its new project.

Gold Peach Properties, the property development arm of the Gaisano Capital Group, launched its second flagship project dubbed as City Soho last Saturday at Radisson Blu Hotel.

 Nilo Miranda II, vice president for operations, shared that the small office, home office (SOHO) concept was born out from the idea that Cebu, which is a highly urbanized area similar to Hongkong and New York, already has limited property spaces. 

Miranda said that City Soho is designed for both office and residential use and geared towards a market mix of young professionals, small business owners, and start-up entrepreneurs.

He added that City Soho units, ranging from 23 to 25 square meters, could be converted to a residential unit from an exclusive office used at daytime. 

“You can live and work in the same space. This concept is relatively new and City Soho is the first of its kind in the city. We want to create a community within a community,” he continued. 

Located in the heart of uptown Cebu along B. Rodriguez St., City Soho is an urban business hub ideal for dental and medical clinics, auditing firms, and professional offices. 

It sits on a 5000-square meter property with a total of 225 units for commercial and 233 residential units ranging from P2 million to P2.2 million.

City Soho will have a total of 28 floors, 11 of which will be dedicated to commercial units, 10 floors for residential, 4 storeys of parking spaces, one floor for amenities and the first two floors will house commercial establishments, a medium-sized department store and a mini-mall.

Amenities include a multi-level parking area, private access for condo owners, 24/7 security, podium pool, function hall, jogging path, gym, CCTV surveillance, six elevator units, lobby and reception area, phone, cable, internet ready, garden and fire alarm and sprinkler system. 

City Soho had its groundbreaking on September 20 and will start construction by year end. The whole project is expected to be completed by last quarter of 2015 but the mall will open by end 2013 or early 2014.

“Gaisano Capital’s main business is the mall. The mall in the building itself becomes the anchor of all our condominium and development projects. With the rampant issues on condominiums, we want to show our prospective buyers that we are keen in finishing the project. The completion of the commercial aspect puts on an impression that we are serious in the completion of this project,” Miranda stated.

Aside from plans to redevelop existing areas and malls of Gaisano Capital, Miranda bared that the company plans to do more mixed-used developments in other areas in the years to come.

Gold Peach Properties’s first mixed-used development, One Pavilion Place, an integrated condo and mall development, is 88-percent sold while City Soho is 85-percent sold to date from its pre-selling period that started last month.

Gold Peach Properties was created in 2010 to focus on various development ventures of the Gaisano Capital Group. (FREEMAN)