Consortium breaks ground for 2 commercial buildings

CEBU, Philippines - A consortium of Danish investors and local businessmen yesterday broke ground for a P200 million mixed-use commercial building project in the heart of Mandaue City.

Owned by Iron Wood Property Ventures Corporation, the “Copenhagen” project consists of two buildings in a 2,900-square meter area along A. C. Cortes Ave.

One building has seven stories, the first three floors of which have been reserved for commercial purposes.

The rest would be for residential units for rent.

The second building is intended for commercial spaces.

Emeline Bullecer-Cabahug, spokesperson for the corporation, said the project is unique because it is designed by Danish Architect Jacob Knudsen, one of their Danish business partners.

She described the design as modern-minimalist which is stripped down to its essential elements.

She said the company finds it easy to do business under the present administration of Mayor Jonas Cortes.

Cabahug, whose husband, Ramon, is a descendant of Justice Sotero Cabahug, said they will hasten the construction work in the hope of completing the project ahead of its one-year completion target.

Meanwhile, Rupert Von Seidlein, in behalf of the foreign investors, said the corporation is family-owned and financially very secure and conservative and operating in zero long-term debt with all their projects fully funded.

Mayor Cortes thanked the investors for having trust in his administration. - THE FREEMAN