1,300 condos by 2020
by Aileen Garcia-Yap
Reporter
By 2020, at least 1,300 residential condominium units will be available in Mactan, Cebu — a development that will boost Cebu’s pull for the active retiree market.
Since its official launch in January last year, Tytans Property and Development, Inc.’s (TPDI) pilot project in Mactan called Tambuli Seaside Living has already seen high demand from local and foreign buyers.
Tambuli Seaside Living is an 11-hectare development in Buyong Road, Mactan which used to be the Tambuli Resort East and Cebu Beach Club area until the property was acquired by TPDI in 2012.
“When we came here, the property (resort) was already closed for at least a year. We got together and discussed on the investment potential and agreed to become partners. Hence, Tytans, which is Ty for our chairman Montano Ty and Tan for me,” said Bernard Tan, president of TPDI.
The first two of six towers that will be developed in the property are already 90 percent sold out according to Ty and that they are now starting to sell the third tower which is now also 60 percent sold.
“The first tower will have 11 floors, the second tower will have 16 floors and the third tower will have 22 floors. We are very pleased with the level of acceptance that the market has shown,” said Ty.
He added that most of the buyers are locals who are looking for second homes.
Ty said, the project gives three reasons for buyers to buy.
“First as an investment, then as a second home for those who want to have a home in a resort-like facility and third is for retirement.”
RETIREMENT
“We also get a lot of retirees from other provinces, OFWs (overseas Filipino workers) as well as the Japanese market,” said Tan.
The company has already filed an application to the Philippine Retirement Authority (PRA) to get their project accredited as a retirement facility.
“We got a lot of inquiries from this market (retirees) already who are very interested in acquiring properties in Cebu especially in Mactan where the beautiful beaches are,” said Ty.
To promote their property more in Japan where there is a huge market now, they also have partnered with property brokers and agents in Japan according to Ty.
First phase
The first phase will only take an area of 2.5 hectares out of the 11 hectares lot which is planned to have three phases and a four hectare resort facility to serve the homeowners.
“The four hectare amenities area will include an exclusive 200 meter beachfront as well as commercial establishments including restaurants and other shops that will serve the needs of the residents and a clinic for the retirees,” said Tan.
He said they have space for at least 10 commercial tenants in the area.
For the management and operations of the project, Tan said they have partnered with Savills International, a London-based property management company.
Tan said the first phase is scheduled to be completed in five years and will cost from P4 billion to P5 billion.
Units at the property cost from P3 million to P13 million which comes with the basic furnishings like a bed, fridge, stove, and airconditioning units.
They also inaugurated their 700 square meters showroom located within the property last Saturday.
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