ST. DOMINIC'S PLACE

A NEW housing development got almost 100 reservations even before its grand launching, a real estate developer said.

Glenda Tupaz, ProHomes Development Inc. marketing manager, said the company was surprised by the positive response of the market during the open house of St. Dominic’s Place in Sudtunggan, Basak, Lapu-Lapu City last Saturday.

Tupaz said this just shows the growing demand for houses despite an international economic crisis triggered by, among other factors, the sub-prime mortgage crisis in the United States.

“People have opted to buy homes rather than pay rent,” Tupaz said during the project’s press launching at the Cebu City Sports Club yesterday.

St. Dominic’s Place is a 3.8-hectare housing development with 536 housing units. It offers two housing types: one-story socialized and two-story socialized houses.

The one-story unit has a lot area of 32 square meters and costs P400,000, while the two-story townhouse has a lot area of 40 square meters and costs P900,000. The socialized houses, Tupaz said, account for 17.5 percent of the total housing units.

With a total project cost of almost P200 million, St. Dominic’s is equipped with amenities such as parks and a playground, a basketball court and a multi-purpose hall. Each house comes with a carport.

Since the start of its development in September this year, St. Dominic’s already has 200 constructed units. Its grand launching is set in January next year.

The positive response to their latest development comes in a “lucky” year for ProHomes, Tupaz said.

ProHomes has sold out 387 housing units in Corinthian Homes in Lapu-Lapu and 307 units in La Bienvenida in Minglanilla this year. Corinthian Homes earned P250 million, while La Bienvenida earned P160 million.

“With this new project set for this year, we hope to earn a total revenue of almost P700 million this year,” she said, referring to the locally employed buyers who are also members of Pag-ibig.

ProHomes hopes to earn P250 million from St. Dominic’s Place.

With the continued growth in demand for housing, Tupaz also said the company has lined up six more housing developments for next year. These projects include a condominium to be put up near the city and more housing projects in the areas of Consolacion and Mactan.

“We hope to sell 1,600 units next year,” she said.

The estimated cost of the six projects, Tupaz added, is about P1 billion.

Published in the Sun.Star Cebu newspaper on December 16, 2009

New Real Estate Company develops housing community in San Fernando

A NEW player in Cebu’s real estate industry is introducing to investors, workers, foreign spouses and residents in the southern part of the province a new housing community in San Fernando, Cebu.

Nexus Real Estate Corp. launched Tuesday night The Villagio, a 2.3-hectare property with four unit models (Bernini, Palladio, Caracaggio, and Palazzo Rosita) designed to serve the potential market in San Fernando, Naga, Carcar, and other towns in the south.


Nexus Real Estate executive vice president Shanna Lopez observed that there are not many real estate developments beyond Minglanilla.

This prompted the company to start building homes in the southern countryside, said realtor Jo Jamero of All Real Estate Realty, the marketing arm of Nexus Real Estate.

He pointed out that putting up a development in San Fernando is advantageous, given the town’s small population and the cheap cost of living. He added that the municipality also poses a future as an industrial zone with high employment rate.

The launching of The Villagio, Nexus Real Estate’s ninth and latest project, signals the start of pre-selling the project’s 180 units. Units are expected to be turned over to the owners in February 2010.

“One of our selling points is that the units are expandable.

They are also totally livable when purchased,” said Jamero.

The prices of the units range from P900,000 to P1.4 million.

Buyers have the option to pay their down payment in 24 months without interest. Free appliances are also available for early buyers.

Jamero said The Villagio appeals to all market classes and makes a good retirement project for local and foreign retirees.

He added that real estate is always a good investment because the value of the land always goes up.

The amenities of The Villagio include a basketball court, mini-gym, playground, concrete roads, water tank, and underground sewage system with ready water and electricity connection, among others.

Nexus Real Estate started constructing The Villagio this year.

It is its biggest project so far. The site development was completed in the early part of 2009 while construction of model houses started two months ago. The Bernini unit is now ready for viewing while the others are nearly complete.

Established in 2001, Nexus Real Estate started selling subdivided lots and building house and lots in several subdivisions in Cebu City.

Some of their previous and present projects include mid-scale community Consolacion Valley in Lamac, Consolacion; Pacific Village in Linao, Minglanilla; and the Kamalaya Residences near the South Road Properties. By Nancy R. Cudis

Published in the Sun.Star Cebu newspaper on December 10, 2009.