Luxury condo project unveiled in Mactan-A A +A
Thursday, March 20, 2014
PROPERTY developer Nexland Estate Venture Inc-LandCaster Group recently unveiled a billion-peso condominium project in Mactan Island.
Nexland LandCaster managing director Harley Y. Yunam said the condominium project The Reef is targeted at local and foreign businessmen.
Yunam said they partnered with internationally renowned individuals like Kenneth Cobonpue to serve as the project’s design consultant and Abaca Resort, which will run a hotel in The Reef.
Yunam said Abaca will be managing 30 condominium units and will operate it as a hotel. The other 186 units of the 21-storey project will be sold separately.
The Reef is already 70 percent sold, with Japanese nationals comprising majority of the buyers.
Yunam said the company initially considered coming up with a project in Mactan for the mid-market but given the location and their partnerships with Cobonpue and Abaca, they decided to go after the upscale market.
For the past 18 years since it was established, NextLand has been developing subdivisions and condominium projects for the mid-market, with most of their projects located in Cebu. The company has already expanded to Cagayan de Oro.
Yunam said their upscale development in Mactan is the start of their plan to also cater to the high-end market. He said, however, that the company will continue to build projects for the mid-market.
To take advantage of its beachfront location in Mactan, The Reef will use glass walls to give unit owners a panoramic view of the sea.
There will be two restaurants, one bar and a spa, among its many other facilities.
Yunam said they will also be adding water sports facilities, including jetskis, speedboat, kayak, water park, hobie cat sail, banana boat and wakeboards.
The company is targeting the completion and turnover of the project in the first quarter of 2016.
Published in the Sun.Star Cebu newspaper on March 21, 2014.