CEBU CITY DECLARED A RETIREMENT HUB

It has facilities to accomodate growing number of retirees

The country's overall authority on the local and foreign retirement industry yesterday declared that Cebu City is now known as a world class retirement hub in the whole visayas.

Through a memorandum of understanding signed yesterday by Cebu City Mayor Tomas Osmeña and officials of the Philippine Retirement Authority (PRA), Cebu City was officially declared as a Local Integrated Retirement Area (LIRA), due to the City's facilities that may accomodate the continuous entry of foreign nationals and "balikbayans",who hope to retire int he Philippines "in style."

The LIRA project, as it is called, is not only meant to attract foreign nationals and former Filipinos to invest, reside and retire here, but also to help accelerate the country's socio-economic development through the dollar revenues it may earn.

MORE JOBS
Aside from Cebu, other known LIRAs in the country are Baguio, Subic-Clark and Davao.PRA Chairman and retired Police Director General Edgardo Aglipay said in a press conference yesterday that the LIRA project for Cebu City will not only increase tourism development, but also provide more employment opportunities.

Aglipay said that as more foreign retirees avail themselves of the country's retirement package, more jobs will be created in some fields, such as hotel and restaurant services, accomodation, infrastructure, health and wellness, individual care service programs, and others that are well-suited to the distinct requirements of the foreign retirees market.

Three years ago, Aglipay said Osmeña convinced him to make plans to turn Cebu City into a LIRA.

HIGHER REVENUES
He said the mayor personally drove him to some of the sights in the city and explained to him the good points the city cn provide to foreign retirees.
Aglipay said that there was an increase of "young" foreign retirees (those still near the age of 50 or below) coming to the country for a span of three years. Majority of them came from China.

Joel Mari Yu, managing Director of the Cebu Investment and Promotion Center said the retirement industry can help Cebu City earn more revenues.
Yu said that some industries such as the local housing industry, can also benefit from the LIRA project as retirees oftentimes purchase houses.

Aglipay added that the project can also improve on government private sector relations, through coordination with other government agencies.JKV
SOURCE: SUNSTAR CEBU

HLURB names ABOITIZLAND top producer

The Housing and Land use Regulatory Board (HLURB) has named ABOITIZLAND, Inc. as its Top Producer of Shelter Units in the open-market category in Central Visayas.

The developer was presented with a certificate of award at the close of the shelter Month Celebration on Oct. 30, 2009.

Exhibits and other activities organized by the National Housing Authority, the Housing and Urban Development Coordinating council, the Home Development Mutual Fund, private developers and the HLURB marked the celebration in Cebu last month.

The HLURB made an evaluation of real estate developers based on number of units produced in 2009. ABOITIZLAND bested other developers selling units within the mid to high end market.

BOITIZLAND vecinos (spanish for neighbors; aboitizland uses this term to refer to its clients/ homeowners) enjoy the fastest turnoround rate within the sector. They are the only proeprty buyers in Cebu accepting turn over of their units within two years of payment confirmation as Aboitizland is "continuously building and on target."

Its first venture into condominium development, The PERSIMMON, has been reported to be quickly selling." The first of its four residential towers within the village, the West Tower, topped off just last month, was sold out within a year of its launching. Pre-selling of the succeeding North tower is also going on briskly.

Now on its 15th year, ABOITIZLAND has developed just as many communities. It has carved its niche in cebu's real estate industry as a trusted developer and collaborated with the best talents worldwide to create the ideal home environments for many individuals and families.

This is the first year that the HLURB handed Top Producer awards in Region 7. ABOITIZLAND shared the spotlight with 8990 Development Corp. which won the top spot in the socialize and Economic Housing Category.

New perspective in condo living at WOODCREST

Nestled in a serene nook in Guadalupe, Cebu City, WOODCREST Residences provides harmony between one's dynamic lifestyle and one's pursuit of gracious living and comfort.

It is a new residential enclave bordered by a manicures garden and strolling lane that offers a new perspective in urban living.

The WOODCREST Residences is Primary Homes Inc.'s newest condominium that was designed to encourage its residents to maximixe the use of the natural elements in its surroundings where one can breathe in the fresh air, and enjoy the lush view of the outdoors from the generous bliss of spacious corridors.
it is conveniently situated as it is just minutes away from malls such as Fooda Savers Mart, Robinson. Ayala Center Cebu. it is also near the Cebu Doctor's and Chong Hua Hospitals, and the Povincial Capitol Building.

The 11-floor building houses 160 residential units consisting of studio, one bedroom,two bedroom, and three bedroom with loft units.
Each room is fitted with an elegant kitchen, the floors tiled with painted walls, partitions and ceilings, with tiled toilets and bath fixtures.
"Every unit has individual porches and private balconies that would usher in natural light, minimizing the use of electricity during the day." said Ramiro Espina, sales manager of Primary Homes.

The property has also a clubhouse with its own function rooms. all residents can enjoy its amenities which include a lobby, gym, fountain, reception, elevator, jogging trail, and playground. It also has a guardhouse to ensure the securitys residents.

Moreover, WOODCREST Residences is equipped with its own water treatment facility.

Inculcating a concern on the environmental impact of their projects, Espina said "Developers should be more responsible,a nd we at Primary Homes, are starting to inculcate the value of environmental concern and care into our projects."
All these add up to a worthwhile investment in condo living that is hassle free and relaxing.

WOODCREST Residences is a project of primary Homes, the premier developer of subdivisions, condominiums, and other residential projects in metro cebu.
Primary Homes Inc. offers free site visit to its model units... call 232-5111783

By: Katrina G. Coloso

Condo market ‘getting stronger

DESPITE the global financial slowdown, the local housing market for residential condominiums has become “robust” now that more and more Filipinos are aware of the benefits of acquiring a condo unit.

Primary Homes sales manager Ramero Espina made that observation, adding that there is now a high demand for residential condos.

However, several condominium projects in the market will be turned over only in 2012. The immediate demand has prompted real estate developer Primary Homes to deliver its condominium development, Woodcrest Residences, ahead of schedule.

Woodcrest, which started last year, was first targeted to be completed toward the end of 2010 but it will be finished by the first quarter next year. Turnover of units will start in December. The buyers can then start using their properties by February 2010.

Woodcrest is located in Guadalupe, Cebu City. It has studio units, two-bedroom units, three-bedroom loft units, and townhouses. It specifically targets the mid-market.
At present, Primary Homes has already reported a 70-percent sale of Woodcrest’s 174 units, 150 of which are condos and the rest are townhouses.

Espina said these buyers include Filipinos with most of them supported by OFW (overseas Filipino worker) relatives, businessmen with investments in Cebu, and foreigners with Filipino spouses.

He noted that the shift from residential subdivisions to residential condos has been spurred by lifestyle change, even when the condominium is considered a new trend in Cebu’s real estate industry.

“Living in an upscale residential subdivision requires high costs for maintaining the house's amenities like the swimming pool and for hiring security guards while living in a condo only requires a unit owner to pay less monthly maintenance dues,” he said.

Some of Woodcrest’s amenities are a swimming pool, fitness gym, clubhouse, multi-level parking area, porches and mailboxes for every unit, and waste water treatment facility. It also has a 24-hour security, equipped with closed circuit television system.

A Woodcrest investor also has the option to earn through renting out his space with the help of Primary Properties Management Corp.

“Real estate is a great investment. A property is equipped with fire alarms and sprinkler system so risks are controllable. It can also be insured and if it will be rented out, it ensures better returns than putting funds in the bank,” Espina said.

He cited Woodcrest investors who are assured of “higher yields at eight to 10 percent per annum.”

He added that another advantage of Woodcrest is its location in the south of Cebu City.

“The trend for business now is going south as the area ushers in more development, especially with the opening of the South Road Properties. The property is (near) hospitals, schools, malls, and offices. It is also located in one of the city’s most peaceful districts,” he said.

After typhoon Ondoy left large parts of Manila submerged, Primary Homes is anticipating more potential clients from Manila to reside in Cebu.

Published in the Sun.Star Cebu newspaper on November 9, 2009.

Persimmon’s West Tower on track

STRUCTURAL development of the 15-storey The Persimmon West Tower has been completed and AboitizLand, Inc. marked the construction milestone with a topping-off ceremony last Oct. 30.

The tower is the first of four residential condominium buildings set on the 1.4-hectare village in Mabolo, Cebu City, which was launched early last year. Construction of the West Tower started in April 2008.


The West Tower’s 157 residential units are due for turnover to vecinos (Spanish for neighbors) in early 2010, the developer said in a press statement.

AboitizLand, it said, remains the only condominium developer in Cebu turning over its units to vecinos within two years of purchase confirmation.

Its “continuously building and on-target” approach, coupled with a solid reputation for well-designed, high-quality communities, buoyed sales of The Persimmon West Tower.

For the topping-off ceremony, AboitizLand executives, led by Chief Operations Officer Andoni Aboitiz, celebrated with lunch at which they were joined by the construction workers assigned on-site.

Community

Aboitiz thanked the workers for their dedication, acknowledging that their efforts “make The Persimmon a possibility today, and in just a few years from now, a reality.”

Also at the event were representatives of The Persimmon’s general contractor, Dakay Construction and Development Corporation, project managers Asian Technicon Managers and Consultants, Inc., officials of Barangay Mabolo and residents of the areas surrounding the village.

The company continues its mission of developing nurturing communities with The Persimmon, its press stament said.

The project is designed with generous “greenscapes” that include the mabolo tree, from which the village got its name.

In a related development, AboitizLand recently adopted Gil Tudtud St. in Mabolo. Its memorandum of agreement with the Cebu City Government binds the company to widen and beautify the road and install traffic and security personnel to promote order and safety in the area. (PR)

Published in the Sun.Star Cebu newspaper on November 4, 2009.