Freeman Cebu Business

Developer fast-tracks mini-township project in Mactan

Ehda M. Dagooc - The Freeman

CEBU, Philippines —  Cebu-based property developer Primary Homes Inc. (PHI) accelerates completion of its first mini township development in Mactan, noting a rising demand for vertical residential properties.

“The lockdown last year greatly affected businesses but surprisingly sales for condo units picked up quite significantly considering the challenging times,” said PrimaryHomes vice president for sales and marketing Ramero Espina during the opening of Royal Oceancrest Mactan showroom and ground breaking of its third tower.

The P2 billion mini-township Royal Oceancrest Mactan project has a total of four towers consisting of residential units, small-office-home-office units, as well as commercial spaces set to complete by 2023.

Officially launched in 2019, to date the project is already 60 percent sold. Sales of the residential units were placed mostly last year at the height of the pandemic, said Espina.

Espina explained that many of their buyers are young professionals and starting families either looking for affordable living space that they can move in right away, or those who are looking for more valuable purpose for their money. “They are generally first-time real-estate buyers.”

Royal Oceancrest Mactan offers Finished and Bare units with a floor area of 28sq m to 60sq m. Finished units are priced between P2.4 million to P6.1 million while bare units are priced more or less 20 percent lower at P1.9 million to P4.8 million. Prices already include taxes and transfer charges.

Royal Oceancrest Mactan is a four-tower development in Barangay Basak, Lapu-Lapu City. Sitting on a 2-hectare property along Sudtunggan Road, the development is made up of mid-rise buildings with a total of 952 residential and commercial units.

The community is designed as a safe and secure haven of wellness and leisure with 60 percent of the total development dedicated to free and open space, giving residents the opportunity to relax and reconnect, roam and immerse in the beauty of the gardens, bamboo tunnels, yoga pocket spaces, and other nature features.

Among the other amenities are swimming pool, clubhouse, fitness gym, play areas, jogging paths, edible gardens, grilling station, and commercial spaces.

“With billions worth of new industrial and world-class developments, Lapu Lapu City is arguably the perfect choice to settle or invest in Cebu,” Espina added

“The younger generation now is becoming more and more financial and investment literate and we are here to support them with our flexible financing options,” Espina noted.

According to Espina, because of the encouraging market appetite for condo living, construction of Royal Oceancrest Mactan is on full swing and is targets to turn over units to buyers by early 2022.

The company also announced its plan to build more Royal Oceancrest developments in other areas in Cebu, as well as Bohol and Negros Oriental before the end of 2021, or next year.

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