Developer to pour investments on community center projects

CEBU, Philippines –  Property developer, A. Lim Development Inc., is bullish on putting its investment money to building specialty community center projects in Cebu.

A. Lim Development Inc., managing director Michael Lim announced yesterday that the company is now drawing up plans to build more community centers, following the success of "Insular Square" in barangay Basak, Mandaue City, and the specialty commercial strip, called "Design Center" at A. S. Fortuna street.

Lim said that the company is now working at developing its one-hectare property on Mactan Island for another neighborhood integrated type of development, that will cater to both residents within the area, as well as the growing number of  BPO workers in Megaworld-developed Mactan Newtown.

Lim believes that the company has already etched its name in this particular property niche in Cebu, more than joining the pack of building residential condominium.

Aside from its planned neighborhood community center in Mactan, the company is also looking at investing similar type of projects in its idle properties located in Lilo-an, Danao, and other areas in the northern part of Cebu.

Although, these future projects are still on the drawing board, Lim said what is certain for now is the company's direction to develop more specialty community centers in Cebu.

The company, which is the real estate arm of the Insular Group of companies, with success anchored on its furniture export (Insular Furniture), and cabinetry businesses (MobileHaus), recently completed the five-storey building within the Insular Square property, turned over to a Japanese tenant company which operates an English school called "Howdy Academy."

To maximize the development of the three-hectare property Insular Square, Lim said the company is also considering to build medium high rise buildings, while working on a possible accreditation with the Philippine Economic Zone Authority.

Meanwhile, real estate analyst Nicolas Pimentel, earlier said that developmental opportunities are also going outside of the metropolis, Metro Cebu area on the other hand will continue to see more integrated developments projects including pocket residential subdivisions, and commercial, leisure and health/fitness amenities.

"Every corner in Cebu has potential [for development]," said Pimentel.