As it meets competition head on: Real estate developer focus on addressing market needs

CEBU, Philippines - Amid the stiff competition in the booming real estate market in Cebu, PrimeHomes Development Corporation capitalizes on providing homeowners with ready-for-occupancy units in a rent-to-own concept to stand out among other local and national developers in the vicinity.

Harold Vince See, marketing and finance officer of PrimeHomes Development Corporation, said in an interview that although there is a growing number of real estate players across all market segments along with the increasing number of communities developed, the five-year old company manages to stand out in the fast-paced industry by addressing the present needs of the market.

He said that as a young developer, it is easier to be attuned with the trends and demands of existing and potential homeowners.

He further noted that they are banking on the company’s unique selling proposition that is grounded in a more customer-centric focus.

With its second project, PrimeHomes Development Corporation incorporates a rent-to-own concept wherein buyers could already move into the unit after investing the minimal down payment requirement.

Re-launched in July 2012, Virtacci is a Mediterranean-inspired, pocket-sized community situated in Lamac, Consolacion. The second project of PrimeHomes Development Corporation is in partnership with Gungob Industries, Inc. 

“Virtacci is targeted to those who want a private abode away from the bustling city life, those who prefer a quiet and peaceful living,” See described.

It is composed of 40 duplex and townhouse units varying from 60 to 187 square meters in terms of lot area and from 56 to 74 square meters in terms of floor area. Its prices range from P1.5 to P2.5 million. To date, there are only nine ready-for-occupancy units available to the market.

At present, the real estate company is offering a 10 percent down payment of the total price of the Virtacci unit before it could be delivered to the homeowner.

See cited that the benefits of owning a ready-for-occupancy unit includes the quality of the home, higher appraisal value and shorter waiting time of moving into the new home.

“It is earlier for you to enjoy the perks of your investment,” he said.

Homeowners of Virtacci could also opt to redesign the interiors of their units according to their preference.

PrimeHomes Development Corporation further commits itself to offer affordable and quality houses for Filipinos in the years ahead.

“Rest assured, we will be one of the developers who will continuously build houses and more houses," See concluded.

PrimeHomes Development Corporation is a homegrown developer established in September 2008 and is currently headed by president and chief executive officer Benedict Que.

Henaville, the flagship project of PrimeHomes Development Corporation, is considered to be the first mass-housing development in Barangay Estaca, Compostela. It is a three-hectare affordable housing community with 306 units ranging from P1 to P1.6 million. It was launched in January 2009 and was completed and sold out within three years.

The company’s third project named as Luana is a resort-themed community located in Calajoan, Minglanilla that is intended for the middle-income to high-end market segments. It will house 110 units that are priced from P2 million to P4 million. It had its groundbreaking last June 15 of this year and is targeted to be completed by the fourth quarter of 2016. /JOB (FREEMAN)