Developer invests P400M on first residential project

CEBU, Philippines - Alpa Land Inc., the real estate arm of A.D. Gothong Group of Companies, invested over P400 million for its first residential development project, the Fontana Heights.

The 2.1- hectare residential development is located at Canduman-Cubacub, Mandaue City.

Alpa Land Inc., managing director Al McWalter D. Lim told The Freeman that this project marks the company's debut to residential development, which will provide an initial 186 units of house and lot package.

The company, which is the developer of several commercial buildings, such as Alpa City Suites, Alpa Centrum ADG I.T. Tower, Alpa Quadruplex Townhouses in Lahug, among others, considers the Fontana Heights as its largest project since its establishment few years back.

According to Lim, the company does not subscribe to the condominium development trend, with firm belief that "Cebuanos/Filipinos still prefer house and lot package."

Masterplanned as value-for-money development, Lim said that the subdivision will be built using the green technology advancements, with quality and branded materials.

Fontana Heights units, depending on the lot size and house models, are priced from P1.6 million, Lim said. The project is Pag-ibig Fund accredited.

Lim noted that aside from start-up families, and OFWs, home buyers also include retirees from neighboring provinces in the Visayas.

"Cebu is becoming a magnet for retirees not only from other countries, but also from out-of-Cebu," said Lim.

Inspired by its fast sales take-up, Lim said the company is bent on expanding another hectare to expand the subdivision, adding more or less 100 house and lot units.

A.D. Gothong Group of Companies, headed by its founder Albino Dee Gothong, operates the A.D. Gothong Manufacturing Corporation, the maker of Bambi Vegetable Oil and Margarine products and other wholesale businesses. — (FREEMAN)