CEBU, Philippines - Still seeing a huge market demand for house and lots, AboitizLand, Inc. officially unveiled its P1-billion residential project in northern Cebu, the complete-community Almiya, last Friday at the Northwing Atrium of SM City Cebu.
Almiya is the 21st overall project and the third project launched this year by the Aboitizland, Inc. The 19-year old developer boasts of its latest project development as the “only community within its vicinity with complete amenities.â€
The gated subdivision sits on a 5.2-hectare property in Canduman, Mandaue City. It is designed in modern Asian theme considerably providing for the humid tropical climate and other environmental factors in the design of its residential units.
Aboitizland, Inc. marketing manager Leorelei Ylaya said in an interview that the real estate company is seeing a lot of market demand in terms of residential projects in the city.
With the stiff competition in the real estate market, she said that Aboitizland continues to work on new developments in the pipeline to address such demand for house-and-lot packages.
She noted that they intend to cater to startup families and growing families especially those with kids as their target market. As the school year has started, she added that there is a huge rental market in areas where there are schools nearby such as in Ateneo de Cebu, Maria Montessori, and Cebu International School.
She said that the strategic location of Almiya in the mid-north of Metro Cebu provides homeowners the high accessibility to schools, shopping centers, the central business district, health institutions and places of worship.
The Almiya project will be implemented in three phases. According to Ylaya, the first phase shall cover a total of 1.09 hectares.
With an allotted budget of P300 million, the construction already started last June and is expected to be finished by the fourth quarter of 2014.
Phase 1 offers 44 duplex and 20 single attached residential units on lots of between 80 to 90 square meters, floor area ranging from 60 to 76 square meters and prices varying from 3.1 to P4.2 million.
When asked about the plans for the remaining two phases, Ylaya said that they are still working out on its details.
She added that the pre-selling period for Almiya already started last year. To date, it is 35% sold and is targeted to be sold out in the third quarter of this year.
Almiya’s amenities include landscaped green spaces, clubhouse, swimming pool, community park, houses with generous roof overhangs, excellent cross-ventilation, rainwater catchments, basketball court, children’s play area, wastewater treatment facility and elevated water tank.
An affiliate of Aboitiz Equity Ventures, AboitizLand is developing 400 hectares of Cebu into thriving residential, commercial and industrial communities. It will celebrate its 20th year of leadership in the real estate industry by next year.
AboitizLand serves a constantly growing partner and client base that includes over 2200 vecinos, 35 merchant-establishments and more than 50 corporate entities. /JOB (FREEMAN)