INCREASING lot prices in city centers have been dispersing property developers into the countryside.
But young, homegrown property developer Sterling Land Residences and Development Inc. continues to pursue horizontal developments within the city.
The five-year old company broke ground for its latest development, the Santa Monica Estate Tisa, in Cebu City on May 22.
“We look at the distance from the city center. We study the market carefully. This area is ideal for a horizontal development,” said Marilou Padilla, Sterling Land’s president and chief executive officer.
The 1.2-hectare site is located in the upland sitio of Caduloy in Barangay Tisa.
There will be 139 units of executive townhomes expected to rise in the area after three years of construction.
Its design will be inspired by Bali with Balinese architectural design that makes use of earth and wood elements. All units will have their own pocket gardens with landscaping.
Each unit, which will stand on a 52-square meter lot, will have one car garage, a toilet and bath, and maid’s room at the ground floor. On the second floor, there will be a master bedroom with its own toilet and bath and another two bedrooms with common toilet and bath.
According to Padilla, they are still waiting for a license to sell from the Housing and Land Use Regulatory Board (HLURB) which they expect next month (June). They have already acquired an environmental compliance certificate (ECC) from the Department of Environment and Natural Resources (DENR).
The company is marketing Santa Monica Estate Tisa for the mid-high market.
While they have yet to formally launch their unit sales next month, Padilla said they have been receiving inquiries mostly from residents in nearby subdivisions and villages also in Barangay Tisa.
Sterling Land, which was only established last January 2013, remains bullish in the real estate industry of Cebu.
Padilla said they have set a target of breaking ground for at least two projects in a year.
Just last February, they also broke ground for their Santa Isabel Estate in Carcar City.
“We are eyeing two new horizontal developments within the city, probably by next year. We also have two high-rise projects in the pipeline,” she said.
In December last year, Sterling Land also launched its 25-hectare Minglanilla Highlands project under the “affordable luxury residences” brand in Barangay Tubod, Minglanilla, targeting the high-end residential market.
They also have the Santa Monica Estate in Talisay City with an expected 96 units of townhouses; and the Sea Breeze Residences in Barangay Pooc, Talisay City, a pocket-sized gated community which has 29 townhouses.