High-end subdivision offers units via rent-to-own scheme

CEBU, Philippines - To accelerate the completion of MSY Holdings Corporation’s flagship project in Mactan Island, the 10.5 hectare Bayswater Subdivision has offered over a hundred house and lot inventories through rent-to-own scheme.

Bayswater Subdivision marketing manager Lyn Cutanda-Veits announced that out of the 800 house and lot units, 110 of which will be disposed through an easy rent-to-own package, either via bank or Pag-ibig financing scheme.

Veits said the company opted to offer this easy scheme for the company can dispose of the units quickly and they can focus on its second next Bayswater subdivision project in Talisay City, within the semester.

MSY Holdings is partnering with several bank institutions for its financing offer such as Metrobank, Banco de Oro, Bank of the Philippine Islands, China Bank, and Union Bank.

With unit prices ranging from P2 million to over P7 million, the company will only require the buyer to pay 20 percent equity spread in one year.

Bayswater is just one of the projects of  the MSY Group led by Carlos and Mariquita Yeung.

Yeung recently announced that the company is pouring P7 billion capital expenditure for development projects in Cebu this year, including residential and commercial condominium, and Kandaya resort in Daanbantayan.

The upcoming Bayswater in Talisay City will incur the company with at least P1 billion in development costs that will offer high quality yet affordable housing units for the middle-range market in Cebu.

In an earlier interview with MSY Holdings vice chairman Carlos Yeung, he said the company is continuously looking for more opportunities to expand its real estate business in Cebu.

In fact, his Chinese businessmen friends in Hong Kong have expressed interest of investing in Cebu.

Yeung believes that the business is here and Cebu is a good site to start off an investment, while positioning to take advantage part of  the Philippines’ expected positive economic leap in the next few years. (FREEMAN)