CEBU, Philippines - Primary Homes Inc.,(PHI) announced to build 709 townhouses in a 5.4-hectare property in Poblacion, Compostela, in the northern part of Cebu.
PHI’s newest subdivision brand, Richmond Homes, hopes to provide additional inventories of affordable but quality housing demand for Cebu.
Pegged within the P1.25 million price range with a 50-square meters floor area, the project is ideal for starting families with members working in the Business Process Outsourcing (BPO), and those who are working in manufacturing plants nearby, like Mitsumi, Mactan Export zone, among others.
The project, which was formally launched yesterday is set to deliver the complete house and lot or townhouse products to its owners by the fourth quarter of 2017.
"Richwood Homes is a development centered on building homes for every common Juan. Being Cebu’s reliable partner is building homes, PHI gives the same kind of quality in its newest project," said Ramiro Espina, PHI vice president for sales and marketing.
In an earlier interview with Primary Homes president Stephen Liu, he said that the company is allocating a multi-billion-peso capital expenditure to build more residential projects in Cebu and other parts of Visayas and Mindanao in the short term.
This will also include the company’s plan to venture into residential developments in other areas in Southern Philippines.
The company currently has a total of 20-hectare property land bank, including its acquired property in Davao, which the company will soon develop for another residential project, and another project will be in Cagayan de Oro.
According to Liu, Primary Homes’ long term plan is to build more houses across the country, indicating its serious intent to become one of the giant developers of residential projects.- Ehda M. Dagooc (FREEMAN)