Andoni Aboitiz, Aboitizland chief executive officer (third from left), and Joel Quiño, Compostela mayor (second from left), led yesterday’s groundbreaking ceremony of the firm’s P65 billion Amoa project in Compostela town. (CDN PHOTO/CHRISTIAN MANINGO)
CAPITALIZING on the strong demand for residential communities across the country, homegrown real estate developer Aboitizland Inc. continues its thrust to expand in Luzon and Mindanao.
They were considering boosting their presence in the National Capital Region (NCR) in Luzon and in Davao in Mindanao, said Andoni Aboitiz, chief executive officer of Aboitizland Inc., during yesterday’s groundbreaking ceremony of Amoa, which is considered the biggest residential project in northern Cebu.
Amoa is Aboitizland’s P65 billion, 60 hectare development in the elevated area in Barangay Cabadiangan, Compostela town. The project is also scheduled to be completed in 2024.
Aboitiz said that the property firm, which owns 400 hectares of land in Cebu, would be focusing on creating more projects under the residential category to break away from the vertical development trend.
“We sensed that people are looking for house and lots, not condominium units. (Since) Everyone is focusing on condominium projects so we decided not to do that,” said Aboitiz on their residential projects thrust.
In the NCR, Aboitizland has three residential projects in the pipeline which would be built in San Juan, Batangas; Capas, Tarlac; and Cabanatuan.
“The project we will have in San Juan, Batangas will be a ‘second home’ or a resort-residential community by the beach,” he said.
He also said that the project would have a 600-metert frontage, which would be ideal for retirees.
“(We are optimistic in expanding in) Davao because it’s an emerging city and the largest retail area in Mindanao,” said Aboitiz of the firm’s plans for Mindanao.
He cited Davao’s steadily growing economy driven by its residential, commercial, business process outsourcing and retail industries making it an ‘obvious place for business.’
Aboitizland has six ongoing projects in Cebu particularly in Mandaue City and Mactan.
These include the Priveya Hills, Pristina North and Almiya, which are the developer’s residential projects.