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Developer sees bright prospects in Cebu’s real estate sector

PrimeHomes Development Corporation sees a promising demand for medium to high-end units as the firm’s officials led by Chief Executive Officer Benedict Que (4th from left) launch their latest real estate project the Luana Dos, a model house of which is seen at the background./Contributed photoContributed photo

CEBU CITY— Citing future infrastructure projects and growing market demand, PrimeHomes Development Corporation launches another real estate project in the municipality of Minglanilla, 14 km from this city.

“We still see bright prospects the real estate industry,” Prime Homes Development Corporation Business Development Manager Harold Vince See said during the launch of the company’s latest project, the Luana Dos.

 Luana Dos is the company’s second real estate project in Minglanilla. Its first project, the Luana Subdivision, was started in 2012.

He also cited the excellent sales performance of Luana Subdivision as the company had seen a demand for medium- to high-end housing units. 

Launched in 2012, the subdivision sold out its 110 units in 12 months.

See said that based on the Luana Subdivision’s performance, the company would be aiming to sell 55 units in Luana Dos in six months time.

See explained that the proposed infrastructure projects in Cebu would help boost demand for housing in Minglanilla.

He cited the proposed LRT project from Naga to Danao City and the Metro Cebu Expressway. 

Aside from that See also said that the Minglanilla municipal government was planning to develop a reclamation project in lower Calajoan and a port project.

The LRT project is among the basket of solutions planned by the Department of Transportation to address the traffic congestion in Metro Cebu. However, its implementation is expected to be completed in not less than 10 years.

On the other hand, the Metro Cebu Expressway is a project of the Department of Public Works and Highways, with an estimated cost of P28.1 billion, including the road right of way acquisition.

According to DPWH, the project, which is also known as the Cebu Circumferential Road, is a 73.7-kilometer high standard arterial road that will serve as another north to south backbone highway designed to provide seamless traffic flow from Naga City to Danao City.

Luana Dos comprises of eight single detached units, 43 single attached units and four townhouse units built on a 9,950 square meters. It also offers several amenities such as swimming pool, basketball court, a community area, a gazebo, a 24-hour security guard and a project management office to cater to the needs of the residents.

Luna Dos is located at a slightly elevated, hilly area about 800 meters from the national road. 

The company’s future plans include expansion plans in Cebu as well as Visayas and Mindanao. 

“We are innovative as well as cautious and conservative,” See said. 

These would depend, however, on finding the right location for their projects, he said.

He added that their company’s differentiation with the use of branded construction materials in their housing units, would ensure that these would last longer than those in other projects. 

He also said that the company had a project management team that would closely monitor ongoing construction to ensure that the quality standards would be maintained.

The company started in 2008 with a 306-unit economic housing project called Henaville Subdivision in Compostela town, Cebu./dbs

TAGS: Expressway, lrt, Metro, Minglanilla, Subdivision
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