Upscale condo developer enjoys upbeat pre-selling

CEBU, Philippines - Upscale condominium developer Diamond Hilands Inc., noted a strong interest from both local and foreign buyers for upscale condominium units, thus accelerating the project’s completion target.

In a press conference yesterday, Diamond Hilands Inc., general manager Nestor Ignacio said the company's residential condominium units have already gained interested buyers even as the company has just recently acquired its permit to sell from the Housing and Land Use Regulatory Board.

Diamond Hilands’ flagship project named 128 Nivel Hills offer 557 units. A one-bedroom unit is pegged at P8.7 million while the penthouse is priced at P75 million.

The company is a joint venture of jewelry magnates diamond king Carlos Yeung and Cebuana Lhuillier owner Phillippe J. Lhuillier. The company was established last year and kicked off with the P4.9 billion iconic residential project in Nivel Hills that is set to be completed by 2017.

The project is situated at the 8,472 square meters property, formerly the location of Casino Filipino last year.

Yeung, who is the vice chairman of MSY Holdings said that although this is not the first real estate project of the company, this particular project is considered unique because it is seen as another landmark and an icon to word-class condo living developments.

Lhuillier, who is also the Ambassador of the Philippines to Portugal said that while the market for cosmopolitan living in Cebu is ripe, this partnership is something "personal," more than business, as their passion for diamonds in the last 45 years is officially sealed with this multi-billion peso project.

The 128 Nivel Hills is composed of three towers, the highest is the 42-storyWest Tower. The East Tower will have 34 floors, while the exclusive Loft Residences with a total of eight floors.

The company has engaged an excellent lineup of consultants such as the Thailand-based Asian Institute of Technology, Crone Partners, an Australia-based design consultant, Jones Lang La Salle property management group, among others.

Ignacio said the company noted a strong interest from the active retiree market in Japan, who mostly considered Cebu as their top favorite second home destination.

He said the market profile in Cebu in terms of residential condominium has taken a leap, while customers are not anymore particular on the mere cost of a unit, but more on quality, and comfortability.  (FREEMAN)