Developer to invest P800M in Cebu projects
Possible clients check out the scale model of Primary Homes Inc.’s The Courtyards at Banawa, Cebu City.
LOCAL real estate developer Primary Homes, Inc. (PHI) will be pouring in P800 million to a billion in investments for five new residential projects this year that will include a low cost subdivision project.
The local developer remains bullish of the Cebu market especially after the recent calamities when sales of their properties registered a sharp growth fuelled by the demand for homes from residents of badly hit areas, said Ramero Espina, vice president for sales and marketing of Primary Homes, Inc.
“Not that we’re happy of what happened but we think that the trend will continue. We see a lot of people from these areas coming to Cebu and buying homes including condominiums,” Espina said.
PHI’s first project this year called The Courtyards at Banawa was launched yesterday.
The Courtyards is a condominium property in Cebu that is located in a 5,000 square meter area in Banawa, Cebu City.
129 condo units
“The project will add 129 condiminium units to the market which will be in six low rise and low density clusters,” said PHI marketing manager Michelle Cutang.
The project is set to be completed and delivered by mid of next year.
Each unit costs from P1 million to P4 million.
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