CEBU, Philippines - A Singaporean real estate developer ventures into the condominium market of Cebu starting off with a 32-storey project on Nivel Hills, which will provide 350 residential units within three years.
Established in December last year, Wei Kiat Management and Development Company kicked off its Philippine operations with investments on condominium developments in Cebu.
The company, which is a subsidiary of Wei Kiat Construction Pte Ltd that operates several luxury condominium projects in Singapore, also plans to build more mixed-use projects in Cebu in the next few years including a golf course project as well as other developments similar to the Manila Ocean Park, said account management executive Christi Lara.
Noting the demand for middle-high condominium units in Cebu, Lara said the La Nivea at Nivel Hills project will bring in high quality Singaporean condominium technology to Cebu, but at reasonable price range.
The units are pegged at prices ranging from P2.1 million for a furnished studio to as high as P19 million for a penthouse unit.
She said the company will tap Singapore's top of the line designers as well as use high quality and modern furnishings designed for condominium living.
Immediately after getting its permit to sell, Lara said the project has already sold 14 units and one penthouse.
"We have ongoing negotiations for our future projects in Cebu But, we are still focusing on the La Nivea at Nivel Hills project, " said Lara in an interview during the company's official grand launching Wednesday.
Wei Kiat Construction Pte Ltd., is an established and reliable leading home builder in Singapore. It is an ISO-certified company specializing in the construction of dwelling houses and apartments. Its track record include the construction of multi-storey basement residential apartment buildings, and detached dwelling houses with basement, as well as in ground and roof top swimming pools. — Ehda M. Dagooc (FREEMAN)