Developer to invest P6B in Central Visayas projects
PRIMARY HOMES SM BRANCH/JAN.09,2017:(left to right) Ramero Espina VP Sales and Marketing PHI,Lilian Liu VP for Finance Primary Group of Builders,Stephen Charles Liu President PHI,Paulette Liu VP for HR Primary Group of Builders and William Christopher Liu Jr Chairman Primary Group of Builders toss for the opening of their SM Branch.(CDN PHOTO/LITO TECSON)
At least P6 billion will be poured into five property projects in Central Visayas starting this year until 2020.
The real estate firm, PrimaryHomes, Inc. (PHI), is investing on these projects to reinforce its vision of becoming a regional developer.
For 2017, particularly, the developer is poised to expand to Dumaguete City in Negros Oriental where it will offer a house-and-lot development that caters to young and growing families.
“Part of our vision is to be a regional developer. After Cebu, we went to Bohol, and now we are going to Dumaguete,” Ramero Espina, PHI vice president for sales and marketing, said during the opening of the company’s bigger office at SM City Cebu on Monday.
Espina said they will focus on low- and mid-cost housing in Dumaguete City to address the current needs of the area as well as to cater to the growing middle-class segment and tourism market.
The company official said PHI already has a land bank of more than 20 hectares there and that they expect to officially launch the project by the middle of 2017.
This year, Espina said PHI will also launch two mid-market subdivision projects on Panglao Island and in Baclayon in Bohol, bringing the developer’s total number of projects in the province to five.
Combined, the three projects will bring 500 additional houses to the company’s inventory.
Lapu-Lapu projects
PHI is set to introduce the 260-unit Brentwood on Mactan Island in 2017, which will be the first garden walk-up condominium in Basak, Lapu-Lapu City, Cebu.
Espina said the project, estimated to cost P400 million, will rise on a 1.3-hectare property fronting Gaisano Grand Mall and within a short distance from the Mactan Doctors Hospital, five-star beach resorts and the Mactan-Cebu International Airport (MCIA).
He said they are now on the pre-selling stage with 25 percent of the units already sold, mostly to local investors. Interest from the Japanese and Korean market to own and live in the unit has also grown, he added.
Completion is expected three years after the launching, which is the usual schedule for all PHI projects, said Espina.
Talisay plan
On top of these endeavors, PHI is also planning to bring the Courtyards concept to Talisay City in the south and is currently exploring Mandaue City in the north as another viable location.
The Courtyards development is a signature mark of PHI, infusing walk-up flats and open courtyards with manicured gardens. This type of development offers unconfined living spaces with its low-density layout.
PHI has the Courtyards at Brookridge, introduced only last year, and Courtyards at Banawa, which was launched in 2014.
Furthermore, the developer will also bring new house-and-lot projects to Talamban in Cebu City and Mactan Island within this year.
SM City sales office
On its silver year, PHI expanded its sales office in SM City Cebu to better serve its client base and showcase its growing residential inventory. The new office measures 228 square meters, double the original space located along V. Rama Avenue.
Espina said that the expansion was necessary to create a better service experience for their customers and provide a more comfortable space for partner agents to transact.
PHI’s 25 years of existence has produced over 40 developments in Cebu and neighboring provinces, including condominiums, house-and-lots and even serviced apartments, to name a few.
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