Condo developer targets entrepreneurs

CEBU, Philippines -  King Properties, the real estate arm of Juanito King & Sons, Inc., is investing around P700 million for the Avenir condominium project.

Founded by Juanito I. King, the King Properties decided to build its first vertical project that would answer to the needs of entrepreneurs and business professionals to have a good and proper workplace, KP managing director Richard Rey T. King said.

The Avenir project, which is set for completion by the third quarter of 2016, is a 22-storey office and residential building, located in a place dubbed as the Golden Triangle situated in the middle of Banilad, Lahug, and Mabolo of Cebu’s central business district.

“As being entrepreneurs ourselves, we really analyze, ‘what do we need?’” said King. “You know if we are in the business, we always want to put our best foot forward and this is an opportunity to present our company in the best light with all the amenities and resources.”

King added that the idea of the project was borne out of their personal needs as entrepreneurs, saying “eventually we felt that if we ourselves realized this need, there are also probably other people who does.”

He also pointed out a lot of independent service practitioners such as lawyers, accountants, web developers, web designers, engineers and freelancers are supporting the big businesses in the city’s IT Park and Cebu Business Park.

“They basically work out of their houses or in coffee shops,” he laughed. “So, we’ll give an avenue to really present themselves in the best light,” he said.

While entrepreneurs and professionals are apparently the main clients of Avenir, King expressed  confidence some foreign people would also put up their regional offices in the city considering that it’s being tagged as a hub for business.

The good feedback from friends, companies and experts being consulted about the project has pushed the King family to pursue the building of the high rise mixed-used condominium which, King noted, has already generated 30% of interest out of presenting it yet.

The building comprises of the premiere office suites, executive offices and home offices and all units are studio-type.

Lorraine Tan of KP’s sales and marketing explained that in terms of use, the executive office is more appropriate for office use only. “Home office can be used both for office and residential.”

On the other hand, the premiere suites that are wider compared to the latter are specifically designed and optimized for big businesses like the business process outsourcing (BPO) industry.

The company also give their prospective clients the freedom to buy office spaces based on what they need for utmost operational efficiency, Tan added.

Avenir’s internal business center Avant is also designed to offer different services such as reception service, entrepreneurial assistance and call and mail handling; shared facilities such as business lounge and conference rooms.   

KP is also the developer of residential communities Modena (in Mactan, Minglanilla and Consolacion) and The Heights in Talisay City. (FREEMAN)