Local developer expands high-end housing project

CEBU, Philippines — Prime Homes Development Corporation is building 45 family homes as it expands its Luana series of subdivisions.

The company is spending an estimated investment of P200 million to build this exclusive subdivision, primarily targeted to middle to high-end market segment, said Prime Homes chief executive officer (CEO) Benedict Que.

Prime Homes entered into residential real estate development in 2008 with its 306-unit economic housing project called Henaville in Compostela, Cebu.  Luana Dos is the company’s fifth residential project since 2008.

Located in Minglanilla, Luana Dos is the second subdivision that carries the Luana series. Luana is a Hawaiian word that translates to ‘hayahay’ in Cebuano.

The project is a Hawaiian tropical inspired subdivision that will only be limited to 55 families.

According to Que, due to the lack of sprawling land area in Cebu, the company opts to build exclusive or pocket subdivisions to meet the demand for house and lot products within Metro Cebu.

The company’s Luana 1 Subdivision, which was launched earlier, was also to sell all the 110 houses in just one year.

According to Que, the company is pursuing expansion plans to build more residential subdivisions in Cebu particularly going South.

It is currently drawing plans for a horizontal subdivision project in Carcar, Cebu.