Developer launches new condo project

CEBU, Philippines - Homegrown  residential developer Primary Homes Inc.   is launching today its seventh condominium project ---  the 129-unit Courtyards at Banawa which sets the stage for  the introduction of low-density condo living.

With this new project, Primary Homes, the residential development arm of Primary Structures Corporation,  introduces the garden walk-up urban living concept, an exciting trend from the usual high-rise and medium rise condominium concept.

In an interview with PrimaryHomes vice president for sales and marketing Romero Espina, he said that this development is ideal for those who don’t want to be confined in medium to high rise buildings, as this structure concept will only be up to three or  four stories.

Known for its quality developments from horizontal to vertical projects, PrimaryHomes is positioning The Courtyards at Banawa as an income producing property (IPP) taking advantage of the high demand for rentals in the metropolis.

Situated in a half-hectare property in Banawa, the development will feature six clusters in an open-space garden living, with unit price ranges from P1 million to P4 million.  It is set for turn over to unit owners in the middle of  2015. 

The Courtyards at Banawa  is one of PrimaryHomes’ developments scheduled for this year. Two condominium projects will be introduced in the next few months, while  two subdivisions will be unveiled within 2014.

In an earlier interview with PrimaryHomes president Stephen Liu, he said that the company is allocating P10 billion capital expenditure to build more residential projects in Cebu in the next two years.

This will also include the company’s plan to venture into residential developments in other areas in Visayas and Mindanao.

The company has currently a land bank of  20 hectares, including its acquired property in Cagayan de Oro and  Davao, which the company will soon develop into another residential project.

The company is also negotiating with a Japanese partner to build an integrated retirement village in Cebu that will accommodate the growing demand for retirement facilities specifically from the Japanese market.

According to Liu, PrimaryHomes’ long term plan  is to build more houses across the country, indicating their serious intent to become one of the giant developers of residential projects.

Boasting twenty years of experience in the real estate industry with on time delivery of its projects, the company has developed large scale vertical and horizontal residential communities all over Cebu.

To date, PrimaryHomes has built 5,000  houses  and over 2,000 condominium units. (FREEMAN)