Developer commits to economic condos-A A +A
Thursday, April 10, 2014
WITH the increasing demand for economic housing in urban areas, a homegrown real estate developer has committed itself to develop economic condominiums in Cebu City.
Landtraders World Properties Corp. chief executive officer Michelle Yu said during the topping off ceremony of its first condominium project San Marino Residences in the North Reclamation Area that the company had poured roughly P350 million for its two economic condominium projects.
The projects include the Royal Garden Residences in F. Cabahug St. in Brgy. Kasambagan and The Corinthian Residences in Andres Abellana St. in Guadalupe.
Yu expressed confidence that the demand for economic housing in urban areas is high given the increasing number of migrants coming from disaster-stricken areas especially in Central and Eastern Visayas and conflict areas in Mindanao.
Just two years after it ventured into the real estate business, LandTraders has already introduced three economic condominium projects in Cebu City.
For its San Marino project, the developer has recorded 98 percent sales. It broke ground in 2012.
Yu attributed the fast sales take up of San Marino Residences to its partner realty firms, all of which are homegrown realtors.
San Marino Residences is a 21-storey condominium with 490 units. The completion of the building and turnover of units are eyed to be in the fourth quarter of this year.
Published in the Sun.Star Cebu newspaper on April 11, 2014.