Manila-based Primeworld Land Holdings Inc. topped off its first vertical condominium project in Mactan Island, Cebu as it rides with the growing demand for vertical projects in the area.
The topping off was lead by Johnny Uy, Chairman of PLHI. The developer is poised to build a township project in Barangay Agus, Lapu-Lapu City, Mactan Island Cebu dubbed the Primeworld District. The 4.6-hectare development will have a seven-tower resort-themed condominium complex.
It will offer a wide array of facilities and amenities such as sports areas and swimming pools with plenty of open spaces to provide a tropical atmosphere. The average price for one-bedroom and two-bedroom units range from P2.3 million to P3 million.
Primeworld Land Holdings Inc. is an organization that is committed to building safe, quality, and affordable communities for Filipinos and foreign national, concentrating mainly on mass housing. With the company being originally based in Manila, the project in Mactan Island Cebu marks its very first development in the Visayas.
“With the top off, the first tower will be delivered on the first quarter of 2022,” said Helen Zafra, Resourceworld Management Corporation’s Sales and Marketing Manager in a phone interview with CDN Digital.
Topping off traditionally means the commemoration of the completion of a building’s structure.
Manila-based Primeworld Land Holdings Inc. topped off its first vertical condominium project in Mactan as it rides with the growing demand for vertical projects in the area.
Booming housing developments
The whole district is expected to have a hotel, commercial spaces, and a Business Process Outsourcing (BPO) building.
With its resort-style amenities, Primeworld targets to cater VPs and the A, B, and C market as well as people who are working abroad who plan to invest in a unit in Mactan Island, Cebu.
“The residential towers will also be Airbnb friendly,” said Zafra.
Asked why the developers choose to invest in Mactan, Zafra said that Primeworld understands that the city is booming in terms of the demand for property developments.
The local is also approximately 20 minutes from the Mactan Cebu International Airport. And with the construction of the Cebu-Cordova Link Expressway (Third Bridge), the demand for housing development is also expected to rise.
With the rise, Primeworld is looking into building more condominium towers in the city and in mainland Cebu.
Primeworld is continuously build subdivision and condominium projects in Luzon, Visayas and Mindanao and is still looking for possible development.
Zafra said Primeworld is also considering expanding its portfolio in Bohol, also considered a hotspot for tourism.
According to Colliers International Philippines, national developers’ aggressive expansion on integrated communities has redefined the property landscape of the island. It has seen growth in developing condo projects and attributed the significant increase of land values.
With the topping off, Primeworld continues its promise of providing city convenience, in an island living.