Priland allocates P3 billion for new projects this year

CEBU, Philippines — Priland Development Corporation sets aside an estimated budget of P3 billion for three new projects in Cebu this year.

Priland president Ramon Carlo Yap announced the company is adding residential and commercial units to its current portfolio to meet the active demand of property especially in Cebu, in both residential and commercial products.

In an interview with Yap, he said that the company will add another 1,490 condominium units that will be ready for occupancy in the next three years, on top of its existing residential unit portfolio including house and lot packages.

This May 2019, Vertex Coast, a seaside office and residential two-tower development in Punta Engaño will be launched.

Vertex Coast is one of the first developments in resort-stretch of Punta Engaño to offer units for offices. It will have a total of 680 units residential and office combined.

This coming September, the company will introduce a 30-level condominium tower along Sanciangko Street in the downtown area called Paseo High Street, which primary targets the student market, Yap said.

In November, the company will open up its house and lot development, the Breeza Sands subdivision, a three-hectare horizontal development in Babag2 Lapu-Lapu City. This will offer 150 house and lot units.

Since 2013, Priland already launched eight branded development projects, mostly residential.

Priland is a member of a diversified group of companies engaged in the business of manufacturing, distribution, and retail for more than 20 years.

Among these companies include Prifood, Conceptology, Da Vinci's Pizza, and most recently Pricon, the construction business arm of the Group. The Group formerly owned the Three-Sixty Pharmacy chain before it was sold to Lucio Co, owner of Puregold and S&R.