CEBU, Philippines – Residential developer Contempo Property Inc., is set to turn over some units of the 230 residential condominium of its flagship project Bamboo Bay Resort Community.
The company formally inaugurated the first building of the three towers yesterday. This P1 billion project will provide over 700 residential units in the next five years, said the company’s president and chief executive officer Beverly Dayanan.
About 60 percent of Bamboo Bay buyers are local residents and are end-users. “We would like to start-off a community here. In fact, we are the first developer to offer integrated bill service, combining all six utilities to one system, to give convenience to home owners.”
According to Dayanan, the company is on track with its completion schedule to turn over all the units at the Bamboo Bay Community in the next five years.
By the middle of next year, the company is planning to launch another vertical residential project, and will build another 600 condominium units.
In the next five years, Dayanan said her company is lining up more residential type of projects, (both condominium and subdivision), but project concepts will largely depend on the “current flavor of the market” and the location.
“Housing demand is parallel to economic development,” she said emphasizing that Contempo will not only maximize the strong real estate buying appetite in Cebu for housing, but also in the commercial side, where integrated development, like township has become one of the desirable ventures for big and small property.
Aside from Bamboo Bay Resort Community, the company has also built a horizontal housing development, the Sunberry Homes Inc.,
Meanwhile, Dayanan earlier announced that the company is also bent on investing on a township project. (FREEMAN)