Developer to build six more condo projects in two years

CEBU, Philippines – Gaisano Group's real estate arm, Taft Property Ventures Development Corporation, announced to build more affordable condominium buildings, with six more projects to be launched in the next two years.

Starting off with the introduction of Symfoni condominium brand in Nichols Heights Road in Guadalupe, the company readies to build similar projects, four in Cebu and four in Luzon, said Taft Property president and chief executive officer (CEO) Christopher G. Narciso.

The P400 million, 10-story condominium will provide over 500 units, with price pegged to as low as P1.2 million.

A subsidiary of Vicsal Development Corporation, Taft Properties is one of the fast growing real estate developers in Cebu, which recently made presence in the Luzon area.

Narciso said two out of the planned six Symfoni projects to be built in the short term, will be located in Metro Manila, and Legaspi, Albay.

Each Symfoni Building will have an average of 300 to 500 units residential condominium units, depending on the size of property and the market, said Narciso.

"The demand is quite substantial. Cebuano market in particular has accepted the contemporary way of living," said Narciso, adding that the brisk sales generated by the project since it started its pre-selling in the middle of the year, is due to the high interest of buyers from all market segments.

Taft Property built an approximate of 2,400 condominium units in the last couple of years through the 1,600 units of Horizons 101 Towers, and the 800 units at East Gate Condominium.

Narciso believes that building affordable contemporary homes via condominium concept can help minimize the housing backlog in the country, as well as in Cebu. (FREEMAN)