Priland to ride property wave, to invest P5B in 10 Cebu projects
HOMEGROWN property firm Priland Development Corp. is poised to spend up to P5 billion this year until 2019 for 10 projects in Cebu as it banks on the growing real estate demand here.
Ramon Carlo Yap, Priland president, said the decision to invest in these ventures came as a response to improvements in infrastructure as well as the influx of businesses, particularly in the business process outsourcing (BPO) industry here.
“Priland has been here since 2013, but we decided to expand our business due to the increasing demand for housing as well as more infrastructure projects,” he said during the media launch for Breeza Palms, one of the first of these planned projects, on Friday.
The real estate company is owned by the same people behind the group of companies engaged in manufacturing, distribution and retail for over 20 years, including Prifood Corporation, Da Vinci’s Pizza, and formerly Three Sixty Pharmacy.
Priland launched its first project — Northwoods Residences, a 1.2-hectare high-end subdivision in Barangay Canduman, Mandaue City, in 2013.
But it was only on Friday that the developer unveiled new projects as well as the three brands that will carry these ventures — Priland Prime for high-end residences, Priland Homes for the low to mid-range market for horizontal properties and Priland Residences for vertical developments.
Priland is set to undertake four projects on Mactan Island under Priland Homes, among which is the 2.2-hectare Breeza Palms which will have 203 townhouse, duplex, single attached, and special units.
Breeza Palms, which is estimated to cost P200 million, will soon rise along Masulog Road in Barangay Suba-Basbas.
Each unit will cost P1.9 million to P4 million.
Irvin Paul Pastoriza, Priland sales manager, said the Breeza projects are the company’s answer to the growing demand for quality affordable housing.
He said Breeza Palms’ amenities include a clubhouse, basketball court, playground, and common parking area, among others.
The developer is primed to launch the 2.2-hectare Breeza Scapes in November, two-hectare Breeza Coves by year-end, and the three-hectare Breeza Park by the second quarter of 2018.
Two new projects are also going to rise in Consolacion, the 2.2-hectare Belize North to be launched in October this year and the 16-hectare Veranda Heights, to be introduced in 2019 and will be Priland’s biggest venture.
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