Banawa condo project 65% sold

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Monday, December 2, 2013


SUNDANCE Residences, the residential condominium targeted for startup families in Banawa, already sold 65 percent of Tower 1, which has over 200 units, officials said on Friday.

Sharon Ong, vice president for marketing and sales of Worldwide Central Properties Inc. (WCPI), said the strong sales is supported by the firm’s aggressive efforts in marketing the condo building as “child-friendly.”

“Our clients, especially the young families are happy knowing that we have put premium on the safety of their children in building the project,” said Sharon.

She said they tapped the expertise of Safety First to ensure safety in common areas. Sharon said they will also be creating different packages to homeowners who want to add more safety measures in their units.

WCPI officially started construction of Sundance Residences last Friday. Completion of the first tower is slated on 2015.

Sharon said half of the buyers are young families and noted that sold-out units are those with one- to two-bedroom unit configurations.

Market

Sundance Residences is P450-million two-tower midrise building project that sits on a 3,200-square meter property on Duterte St., Banawa. The residential building will cater to the middle to upper-mid market, specifically startup families living near Capitol, Guadalupe and Banawa.

The launching of Tower 2 will depend on market reception, Sharon said.

WCPI president Kent Ong, meanwhile, downplayed effects of recent calamities to condo sales in Cebu saying the recent 7.2 magnitude earthquake that rocked Cebu and Bohol and the super typhoon Yolanda won’t affect the demand for condominiums.

Although they are anticipating a slight setback, Kent said the market will recover immediately. He assured clients that they have considered all important factors, like wind, heavy rain and even earth movement in the design and structure of the residential building.

“We explained to our buyers that our buildings are well-designed and structurally-engineered,” he said.

Jose Sy, the structural engineering consultant for Sundance Residences, said the residential tower was designed in conformance with provisions of the Natural Structural Code of the Philippines (NSCP) 2010 and the Uniform Building Code 1997.

Structural design

Sy, who is the president and chief executive officer of Sy^2 + Associates, Inc., said that if buildings are “properly constructed per structural design drawings, (they) will most likely survive a major earthquake. The code states that the structure may suffer a certain degree of damage under strong earthquake tremors, but will not collapse and will still be serviceable after retrofitting.”

“The fact that a lot of high-rise buildings in Cebu did not collapse after the 7.2 magnitude earthquake, then it sends a positive remark, that they are designed and structured well enough to withstand that strong jolt,” he said.

Published in the Sun.Star Cebu newspaper on December 03, 2013.

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