A local property developer will invest at least P2 billion in the next five years for an 18-hectare township project in Mactan.
Johndorf Ventures Corp. (JVC) inaugurated their newly consolidated properties in barangays Babag and Calawisan in the southern part of Lapu-Lapu City.
The firm is working on a master plan for a consolidated township of the property, Richard Lim, JVC president and chief executive officer said.
“The 12-hectare township named Johndorf Communities will include a commercial hub and more subdivisions that will be attuned to specific markets,” said Michele D. Chiu, JVC sales and marketing manager .
Astana
The township includes the three-hectare property called Astana, which they launched last month.
“Astana will have 413 Asian-themed townhouses for the middle class where at least 40 percent of the units have been sold since its launch last month,” she said.
The average price of a unit is P1.2 million.
Lim said the township project will follow the Astana project concept of promoting Asian living with a refreshing suburban township aimed for urban achievers and their their families’ aspirations.
Also within Johndorf Communities is the completed Hanniyah Homes 1 and 2.
Next in line is the 5,000 square-meter commercial hub located along the main entrance of the township. Three more subdivisions will follow after we complete Astana, said Lim.
Chiu said they are conducting market studies to determine which markets these next three subdivisions will be designed for.
Lim said they may offer a subdivision with single detached and duplex units.
“The township is meant for value-driven, vibrant and dynamic residents, entrepreneurs and business operators who prefer communities close to both the metropolis and the seafront yet wanting to live in a tranquil environment,” he said.
Carcar subdivision
Aside from the Mactan township project, Lim said they will also soon launch a subdivision with affordable townhouses in Carcar City.
“We will develop it in a 5-hectare property. That should offer about 500 townhouse units,” he said.
For 2014, the company has set aside a capital expenditure of about P750 million for Cebu projects and P500 million in Mindanao.
Lim said they remain bullish in Cebu which he said is “primed” for the homes they build.
“The emergence of BPOs has empowered many economically to be able to afford new homes. Not only are they Cebuanos but also migrants from surrounding provinces and elsewhere in the country who come to Cebu to be employed in these contact centers and IT companies. There is now a good demand for housing requirements,” he said.
Growth factors
In Mactan, companies at the Mactan Export Processing Zone now employ about 200,000 professionals, many of them from the BPO sector.
“In selling Astana townhouses, we have noted an increasing take up from young professionals and small business entrepreneurs, even those who are still single,” said Chiu.
The third Mactan bridge is also seen as an encouraging development for Johndorf Communities as it will allow direct access to Cebu City through Cordova which is just near Calawisan in Lapu-Lapu City, said Lim.
He also said that the construction of new terminal facilities at the Mactan Cebu International Airport is expected to increase the demand for the kind of homes they offer.