Gaisano realty arm eyeing more subdivision projects

CEBU, Philippines – Although Cebu’s condominium market is seen to sustain its strength in the medium term, the Gaisano Group's real estate development arm announced to introduce more subdivision projects in Metro Cebu in the next couple of months.

Taft Property Ventures Development Corporation chairman Jack Gaisano said that the company is also seeing opportunities in the horizontal residential offering, which is deemed as an underserved segment in Cebu’s property market.

Simultaneous to its plan to build more residential condos, township projects, Taft Properties is also meeting the need for property buyers who prefer to reside in gated communities or subdivisions, known as horizontal housing development.

To add to its existing portfolio of subdivision developments spread in Metro Cebu, Gaisano said the company will start its re-entry to house and lot offering, at a six-hectare property located near the upscale village — Beverly Hills in Lahug.

This project, which will be formally introduced to the Cebuano market in the next few months, will jumpstart Taft Properties move to address the economic housing backlog in Cebu, Gaisano said.

As long as interest rate will continue to settle in the lower level, interest of the market is not a problem as well as capacity to buy or acquire properties, he said.

Cebu will remain the company's major focus in terms of development, although it has started to conquer the Luzon market recently.

Currently, Taft Properties is scouting for possible joint ventures of partnerships to pursue its active move being one of the front liners in  providing quality, yet affordable residential products in Cebu, both condominium or subdivision concepts.

Aside from its major participation in the residential property segment in Cebu, the company also announced its entry to big ticket real estate projects, through township developments.

Recently, Taft Property, together with its partner Hong Kong Land  launched the 20-hectare township project called "Mandani Bay" at the North Reclamation Area. (FREEMAN)