Kingscraft opens showroom in Mandaue-A A +A
Tuesday, April 8, 2014
THE continued boom in the real estate industry is driving growth in local businesses, particularly in the home accessories segment.
Raymond Lim, president of Kingscraft Fine Furniture, said the demand for home accessories have increased alongside the growth in the property sector.
“The construction boom in Cebu, in particular, is giving us good business, an opportunity to showcase our export quality products to the local market,” said Lim.
Kingscraft is a sister company of Tradewinds Rattan & Handicraft, Inc., an exporter of high-end furniture based in Mandaue City. The company was established last year to serve the requirements of the local market.
Kingscraft recently opened its 80 square meter showroom on Chatswood Ave., Mandaue. It manufactures quality designer doors, kitchens and furniture.
Lim is optimistic they will be able to capture a good size of the local market saying they have the best craftsmanship and design innovation that enhance residential and office interiors, on top of the 30 year experience of Tradewinds in exporting furniture to Europe, Japan and America.
After building their reputation in Cebu, Lim said they plan to open showrooms in Manila and in other key cities in the country whose real estate industries are expanding.
The Philippines’ property sector is expected to continue accelerating this year, according to real estate advisor CBRE. The firm sees more developments outside Metro Manila such as in Clark and Subic up north and in Cebu.
It said office buildings will no longer be limited to the traditional information technology-business process outsourcing (IT-BPO) and call center operations but will also address needs of back office multinational operations such as health management, banking and finance and game development, among others.
In the residential front, the country’s huge housing backlog will fuel increased demands for home accessories.
Enrique M. Soriano III, Ateneo program director for real estate and senior adviser for Wong+Bernstein Business Advisory, said in past interviews that real estate developers are now bracing for more “street fighting” in prices and installment schemes, as they continue to create new brands to cater to specific market segments.
Published in the Sun.Star Cebu newspaper on April 09, 2014.