Priland to build P300M condo in Mandaue
BANKING on the steady growth of demand for vertical living in Cebu, homegrown property developer Priland Development Corporation launched its first condominium venture in Mandaue City on Tuesday.
Ramon Carlo Yap, Priland president, said Northwoods Place, the first venture under the Priland Residences brand, is the company’s response to the growing demand for condominiums in the metropolitan.
“We have been constantly creating projects as we take part in Cebu’s growing real estate industry,” he said during the media launch on Tuesday.
Northwoods Place sits just outside of Northwoods Residences, Priland’s first gated community. The development is close to Sacred Heart School – Ateneo de Cebu and sits along H. Abellana Street, making travel easy and access to important establishments immediate.
Two low-density towers hold 312 units altogether, with Studio, 1-bedroom, and larger Home Office configurations.
This selection of thoughtfully designed units makes the property ideal for residents with different lifestyles—whether that’s a student looking to concentrate on studies or a young couple working from home.
Priland General Manager Marcelino Relampagos said they have earmarked P300 million for the construction of the project, which is targeted for completion in 2020.
After Northwoods Place, the developer is primed to launch two more vertical and four more horizontal projects in 2018, for which they have allotted close to P1 billion.
The two upcoming vertical projects along Archbishop Reyes Avenue and in Barangay Mabolo will add a total of 1,100 units, a mix of residential and home office, to Priland’s inventory upon completion.
Irvin Pastoriza, Priland sales manager, said vertical housing projects are developers’ response to the scarcity of land in Metro Cebu.
“Condos are a perfect substitute for house and lot units for half the cost,” he said.
Northwoods Place’s home office component, which features 18 home office units on the second floor, is the first of its kind in Canduman.
Pastoriza explained that aside from the increasing demand for condos, the appetite for home offices is also growing.
“More people are realizing that they can work at home. We want to cater to professionals, small entrepreneurs, and startup owners,” he said.
He added that should the demand for home office units be higher, they might convert other floors in the building as well.
Part of a well-established and diversified group of companies that existing for over 20 years, Priland Development Corporation channels decades of business expertise.
The developer has set aside P3 billion to P5 billion this year until 2019 for 10 projects, a mix of horizontal and vertical developments, as it banks on the growing real estate demand here.
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