Priland earmarks P2.6 billion for Mactan condo project

CEBU, Philippines —  Priland Development Corp. is betting big on Mactan Island's economic rise as it launches a new condominium project in Cebu's prime tourist destination.

On Thursday, the property company unveiled its Paseo Grove project in Lapu-Lapu City, scheduled to start construction by 2020.

The six-tower project will be developed in three phases as the company targets its full completion by 2026.

Company president Ramon Carlo Yap disclosed in a press conference the developer is pouring in a P2.6-billion investment into the project.

Yap said the project is in close proximity of major establishments and thoroughfares in the city.

In particular, the condo project is meters away from the Mactan Export Processing Zone 2, The Outlets at Pueblo Verde, the Cebu Light Industrial Park and the Mactan-Cebu International Airport, making it an ideal home base for busy individuals and frequent travelers.

Yap noted they are targeting the housing needs of those working in nearby economic zones.

A total of six towers will be built on the one-hectare site of Paseo Grove, and unit types will range from Studio Units to 2-bedroom Units.

It will have a total of 2,100 units once fully completed by 2026 but the first tower, which is eyed for completion by 2021, will have 371 units.

Amenities will include swimming pools, a gym, daycare center, parks and gardens, multipurpose rooms and retail areas.

Priland is also developing two other horizontal projects in Mactan.

"We want to bring the houses of these workers closer to their workplace as traffic is becoming worst," Yap said.

"We really see the economic boom in Mactan," the company executive said.