Homegrown developer starts second project in Bohol

CEBU, Philippines — Homegrown developer Lite Properties Corp. (LPC) is looking into further growing its business in Bohol province, a potentially rising housing market in Central Visayas.

The company announced that it is building a second project in Bohol named the Corella Homes, a mid-range and economic housing development located just outside the bustling capital of Tagbilaran City.

Chief executive Lucio Lim Jr. projected an increasing economic activity in the municipality of Corella in Bohol.

“This is going to be our biggest project. This is a landmark project for us,” he said.

Last March 8, the company held the project’s groundbreaking. The structure will rise in a 25,000-square meter property along the highway in Barangay Poblacion. The property is about seven kilometers away from Tagbilaran City.

Lim said that based on their discussion with Corella Mayor Jose Nicanor Tocmo, the municipal government has wanted to limit the number of housing developments in the town.

Once completed, the project will have a total of 209 housing units and five units of commercial spaces.

Corella Homes is LPC’s second housing project in Bohol after the Lirio Residences in Barangay Booy, Tagbilaran City, a mid-market housing project beside the old airport.

Aside from Bohol, the firm also has other developments located in Cebu, including Lucena Homes in Minglanilla town and Luciana Residences in Cordova town on Mactan Island.

LPC is the property development unit of Lite Holdings, a company founded by the Lim family of Bohol and has interests in shipping, cement, and rice, among others. — JMD