Taft Properties Ventures Development Corp (TPVDC) president and chief operating officer Christopher Narciso (left) talks to project development head Lydwena Eco (center) and Ram Torres, project development officer during the media launching of the Taft Properties. (CDN PHOTO/TONEE DESPOJO)
Confident with Cebu’s real estate market, Taft Property Ventures Development Corp. (TPVDC) will launch another high-rise condominium project called the Taft East Gate with a total investment of about P10 billion.
The Taft East Gate is located in a 1.5 hectare property along Pope John Paul Avenue corner Cardinal Rosales Avenue in Mabolo.
The project will be launched on Nov. 8 signaling the start of development of the four-tower mix use community, said Lydwena R. Eco, TPVDC project development head, yesterday.
“The first tower will have 45 floors with 894 units. It is expected to be completed in December 2018,” said Eco.
The real estate developer will also top off the first building of their first condominium project in Cebu, the Horizons 101, on Dec. 5.
Eco said the first tower is sold out with 1,000 units while the second tower is 75 percent sold with only about 200 units left.
They have also sold 200 units of the 300-room first tower of their Soltana project in Mactan which was launched late last year, said Eco.
Eco said they are seeing a balance of local and foreign buyers as well as end users and investors.
For the new project, Eco said the price point is quite similar to that of Horizons 101 with an average of P2.8 million per unit.
They will offer studio units, one-bedroom units, and two-bedroom units.
They are confident of Cebu’s real estate market and are lining up more strategic and selective projects for the right kind of market in a specific place, said Christopher Narciso, TPVDC president and chief operating officer.
“We are planning exponential growth for the company, expanding our projects and product models for the right type of project for the right market,” said Narciso, who is also an officer of the Subdivision and Housing Development Association (SHEDA).
He said their market all over the country is experiencing a healthy growth and that they don’t believe they are at risk of experiencing a bubble soon.