Cebu-based property developer eyes Europe, Mid-East markets
A Cebu-based real estate company is looking at expanding its international reach.
Manny Roleda, Nexus Real Estate Corp. vice president for special projects and consultant for Antara, said they will be going into the European market following the reception of their latest high-end vertical project.
Roleda was referring to the Nexus Real Estate’s Antara project, which is made up of five mid-rise residential towers in Talisay City.
“Our project may be located in Talisay City, but our reach is international,” he said during the blessing of the Antara showroom along N. Bacalso Avenue in Cebu City last Saturday.
At present, Roleda said they have sold 90 percent of 158 units in tower 1 of Antara with very minimal resell and are expecting to sell out before the year ends.
He said that 80 percent of unit owners are from outside the Philippines, mostly overseas Filipino workers, who are based in Hongkong and Singapore.
He said these are two of the countries in Asia where they marketed their products.
Roleda said this profile is also a healthy mix of retirees and local buyers that are within the age bracket of 30 to 40 years old.
This year, he said they will be conducting a roadshow in Dubai and other open cities in the Middle East as well as continue with their Asian roadshows.
“We are also looking at the possibility of going into the European market,” he added.
Antara, a five-tower mixed-use development on a 2.9-hectare lot in Barangay Lawaan, Talisay City, was launched in January this year.
Groundbreaking for tower 1, with 158 residential units, was done in May this year.
Roleda said the first three towers will be for residential use while the other two will be for mixed use.
The consultant said the “multi-billion-peso” Antara endeavor will not be just a regular residential project, as it is positioned to be a wellness and lifestyle hub in the south as well.
Roleda said it will eventually feature a wellness and leisure center, commercial strip, adventure park, and organic farming plots, all constructed, along with the towers, within five to eight years.
He said they are now planning to open inventory for Antara tower 2 which has 218 residential units. Tower 1 units will be turned over some time in the last quarter of 2018, said Roleda.
Roleda said Nexus’ venture into vertical development has been a “quantum leap” for the firm as it has been known to develop horizontal residential projects in Cebu City in the last 10 years.
Roleda said Nexus “split” itself into two subsidiaries earlier this year — Nexus Prime to handle high-end vertical developments such as Anatara and Telo Properties to manage low- to mid-cost residential developments.
Nexus has a portfolio of seven completed residential projects in Cebu with several more in the pipeline. Antara is its first venture into vertical development.
“We did not want to mix the identities of the two. (If we did not make the split), the market would not consider us as serious players in the industry. Well, we were a player, but a small one,” said Roleda.
For this year, Nexus is planning to undertake three more projects under Telo and one more for Nexus Prime.
Shanna Lopez, Nexus chief executive officer, said they are not worried of the housing bubble, “a period of above-average levels of house price growth that is followed by a drop in prices, back to or lower than the point where the growth started.”
“We don’t fear that because we offer a lot of amenities. We are also tapping an international properties management group to make sure everything is smooth sailing,” she added.
The standard template for real estate is build-sell-leave, which should cause other developers to be afraid, she said.
But Lopez said that if one builds, sells, and manages properties differently, there’s nothing to be afraid of.
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