Singaporean-led developer remains bullish on Cebu’s property market

CEBU, Philippines — Singaporean-led developer Syntech Properties Inc. (Syntech) remains optimistic about Cebu’s residential real estate market, despite increasing competition driven by new players entering the scene.

Syntech, a pioneer in introducing condominium living to Cebu through its landmark Citylights Gardens Condominiums in Lahug close to 30 years ago, has unveiled the second phase of its upscale subdivision project, “Amonsagana,” located in Mandayao Hills, Barangay Pondol, Balamban, Cebu.

During the official launch of the Phase 2 project, Eugene Yong, Syntech chairman and deputy chairman of Singapore's Woh Hup Group, said the company is determined to complete the P3 billion total development of the sprawling Amonsagana project in 10 years.

Yong also highlighted Cebu’s robust real estate market as a key factor in the company’s decision to accelerate its expansion plans, which had faced delays due to the COVID-19 pandemic.

The Phase 2, known as Saga Lluvia, will feature 110 titled freehold prime residential lots, with sizes ranging from 192 to 718 square meters.

“Amonsagana is being developed in five distinct phases, interconnected yet unique. While the pandemic set us back, we remain committed to completing the entire project within the next decade, with a total development cost exceeding P3 billion," said Yong.

Situated 200 meters above sea level, Amonsagana offers sweeping views of the sea to the west and mountain ranges to the east. Designed to harmonize luxury, sustainability, and community living, the project initially launched Saga Tierra, its first phase, featuring 66 residential lots.

In 2025, Syntech plans to break ground on the 1.2-hectare Sagana Resort, which will include a clubhouse, infinity pool, children's pool, gym, health spa, yoga areas, meditation gardens, among others.

Yong further revealed that the company is also gearing up for the development of the four-hectare Sagana Park, a nature-focused amenity featuring trails, elevated boardwalks, viewing decks, hiking paths, chalets, and fishing ponds.

“Our vision is to create a premier-class eco-friendly community while preserving the natural biodiversity of western Cebu," Yong said.

Yong praised the Cebu Provincial Government and Balamban Municipality for stimulating an environment conducive to growth and investment.

"Balamban is more than a municipality; it is a thriving community rich in culture, resilience, and innovation. Cebu Province’s forward-thinking policies and infrastructure developments provide a solid foundation for our projects," he added.

Meanwhile, Balamban former Mayor and Cebu Provincial Board Member Alex Binghay underscored Syntech's expansion as part of a larger transformation of Balamban and western Cebu into an economic powerhouse.

Other significant developments include the Aboitiz Group’s West Cebu Estate, Cebu Doctors Group’s planned hospital, and the relocation of the Provincial Capitol to Balamban.

“The confidence of global investors in western Cebu will drive economic growth and create numerous employment opportunities," Binghay noted.

Founded in Cebu City in 1995, Syntech has nearly three decades of experience in real estate development. It is a part of the Singapore-based Woh Hup Group, a renowned organization with a 96-year history in construction, property development, and investment. — (FREEMAN)