Developer sets P4.5 billion capex for 2022

CEBU, Philippines —  The developer of 12-hectare “Tambuli Seaside Living”, Tytans Properties and Development Inc., readies P4.5 billion capital expenditure (capex) for 2022.

This will start-off the building of Tambuli’s phase 2 project, which will add more residential units, condo-hotel features and a 150-room luxury resort component, the Tambuli Seaside Resort and Spa.

In an interview with Tytans Properties president Gerard Tan, he said the phase 2 expansion will add more upscale residential condominium units to meet the pent up demand resort living, as well as leisure accommodations.

Inspired by the good performance of Phase 1 development, Tan said the company will accelerate the commencement of Phase 2 expansion, although very cautious considering the virus-threatened environment.

Last Tuesday, November 30, 2021, the company turned over 190 condominium units to their respective owners in the fourth of the six towers for Phase 1.

The entire Phase 1, is a six-tower development which will house a total of 1,350 resident and condotel units and 90 percent sold out. Completion target of the first phase is 2023.

“There is always market for luxury. People find a way to enjoy and entertain themselves,” explained Tan noting that with the pandemic, this aspiration has been enhanced with people spending more time at home. Tambuli’s positioning as a premier resort vertical village with five-star hotel amenities provided them far greater edge in the new normal.

Currently, 100 condotel units are opened for guests.

The recovering market for tourism, and sustaining interest for resort living prompted the company to push the multi-billion-peso Phase 2 expansion plan.

Tambuli Seaside Living, located at Buyong Road, Maribago, on Mactan Island, boasts of its 200-meter natural beachfront. The entire property is also surrounded with over a thousand trees (some are centuries-old) and rare plants.