Firm breaks ground on 3rd condo project-A A +A
By Mia A. Aznar
Tuesday, February 4, 2014
IN A little over two years, a family venture has managed to turn up three condominium projects with two more being planned for this year.
As stockholders of Landtrader’s World Properties Corp. broke ground on their third project yesterday, chief executive officer Michelle Yu said interested buyers have already begun their inquiries even when construction has not begun.
The Corinthian Residences on Andres Abellana St. in Guadalupe is a Greek-inspired building with 10 floors and 290 units. The one-bedroom units will range from 24 to 31 square meters. Gross floor area is at 14,337 square meters while the building comes with two elevators, a gym, function room and swimming pool.
It is expected to complete construction in September next year. The P220 million project is Landtrader’s third, after the San Marino Residences in the North Reclamation Area and Royal Gardens in Villa Aurora, Kasambagan.
Their first project, the 21-floor San Marino Residences, has sold 90 percent of its 490 units, which is located across the SM City Cebu. Yu said they are on schedule to turn over units to owners at the third quarter of this year.
They will officially start pre-selling the Royal Gardens at the end of this month. The project, which has 12 stories and 185 units, was launched last August.
Yu said the family went into real estate development because they had a few properties that they were not using.
Seeing how in demand condominium units were and how well these properties were located, the family decided to start the venture.
Yu said all their projects are high-rise condominiums. They are planning to build a fourth one in Mandaue City and a fifth in the North Reclamation Area, this time across the mall development being constructed by Robinson’s Land.
Yu believes their business has succeeded because of their locations. She also cited that their prices are competitive, saying they were selling the cheapest at P1.25 million last year. Yu added that they are also looking for prospective properties that they can develop.
Published in the Sun.Star Cebu newspaper on February 05, 2014.