Success formula: Developers tie up with int’l brands
Partnering with international brands is helping local developers in Cebu to compete and even outdo larger national developers.
This was evident in the recent 2018 PropertyGuru Philippine Property Awards wherein some homegrown developers took home awards and citations for some of its developments in the province.
The Residences at Sheraton Cebu Mactan Resort, a development by AppleOne Mactan Inc. was one of the most-awarded properties during the event held last May 11 at the Fairmont Makati ballroom.
Couple Ray and Venus Manigsaca, who are at the helm of AppleOne Properties Inc., recalled that when they purchased the property in Barangay Punta Engaño in Lapu-Lapu City in 2014, they immediately wrote at least three international hotel operators to partner in the operation of the hotel and the condo project.
“Sheraton was very quick to get back at us. They were very easy to deal with and they also convinced us and got us to sign with them,” recalled Ray Manigsaca, president of AppleOne Properties Inc.
AppleOne Mactan Inc. is the premier development arm of AppleOne Properties Inc.
The Residences at Sheraton Cebu Mactan Resort won the Best Condo Development category, besting all other condo developments in the country.
The same property also won the awards for Best in Luxury Condo Development (Cebu), Best Condo Interior Design (Cebu), and was Highly Commended for the Luxury Condo Architectural Design Category.
Sheraton is a brand under Starwood Hotels and Resorts which has more than 1,300 properties in some 100 countries.
According to Manigsaca, The Residences is also designed by an international group Blink. It is based in Thailand, established in 2006, and specializes in “distilling the spectacular from the vernacular.
The company has worked with major brands in destinations that include China, Indonesia, India, the Maldives, Singapore, South Korea, Turkey, Thailand, Vietnam and Kenya.
As to the furniture to be used by The Residences and the Sheraton Cebu Mactan Resort itself, Manigsaca said they will also be exploring local manufacturers.
“We are still looking but the furniture will be all local because Cebu is an exporter of furniture,” he said.
The entire 3-hectare upscale development will include 250 rooms for the hotel and 190 luxury residential units. The hotel is expected to open in 2019 while the residences are set for turnover in 2020.
Dusit Princess
On the other hand, Grand Land Inc. was also recognized in several categories during the Property Awards. Their biggest win was Best Hotel Development (Cebu) for their Dusit Princess-Grand Tower Cebu Property.
According to Khristina Pestaño, Grand Land vice president, the property is also their first partnership with foreign brand Dusit International.
“Being a young developer, we have to position and establish our brand. Partnering with branded companies augments the legitimacy and the trust of our clients and customers,” she said.
Grand Land Inc. is still turning six years old this year.
Dusit Princess is housed by Grand Tower Cebu — a mixed use building. It comprises of two floors of commercial spaces for restaurants and spa; nine floors of prime office spaces; two floors of function rooms for MICE events; and 11 floors for the 295-room hotel.
Dusit International has more than 60 years of experience in the hospitality industry with a “live, work, play” hotel concept.
The property will also showcase furniture by notable Cebuano designers like Kenneth Cobonpue and Vito Selma.
Grand Land’s Grand Residences Cebu also won the Best High End Condo Development (Cebu); while their Amani Grand Mactan, Cebu won the Best Affordable Condo Development (Cebu).
Meanwhile, Grand Land was also Highly Commended as a Best Boutique Developer for the entire country. The main award was bagged by ArthaLand Corp.
Keeping pace
Property management and research firm Colliers International Philippines also noted that the partnership of these developers with international brands has helped them improve.
“The popularity and reputation of Sheraton and Dusit definitely rubbed off on those projects. Cebu is the second largest property market outside of Manila so the quality of projects has significantly improved over the past few years,” said Colliers Research Manager Joey Bondoc.
The increasingly affluent and dynamic property market in Cebu is also expected to drive demand for real estate properties in the province and elevate the quality of these projects in Cebu.
This drive to improve projects also benefits Cebu’s property end-users and investors, Bondoc added.
“The stiff competition amongst massive developments from local and national players are also propelling developers to highlight the differentiating features of their projects, resulting in more innovative office, residential, and hotel projects,” Bondoc said.
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