New project launches in Talisay-A A +A
Wednesday, April 9, 2014
A NEW player in the real estate industry said it is building quality and affordable townhouses in Talisay City to help meet the province’s housing requirement.
Marilou Padilla, president and chief executive officer of Sterlingland Residences and Development Inc., said yesterday the move to diversify the family’s business from financing to real estate was spurred by the growing housing demand, specifically in the middle to low market segments.
The family also owns Schillings Finance Corp.
Yesterday, the company broke ground on Sterling Residences, its flagship project in the horizontal development segment. It is a townhouse project with 29 units priced from P1 million to P2.3 million. It will have a modern Mediterranean design.
The project sits on a 2,000 square meter property in Brgy. Pooc, Talisay City.
Padilla declined to disclose the total investment on the project, saying only it is a “significant amount.”
She said construction of model houses will immediately start, with a completion target of about a month. The company is looking into a six-month construction period to complete the 29 house units.
Even before its official launch, Padilla said the project was already getting huge interest from potential buyers, specifically teachers. Although, they are still new in the industry, Padilla said they tapped the right partners to help them deliver high-quality but affordable homes to Cebuanos.
Padilla said they will build more small communities in the province. She said they have already drafted a five-year development plan that focuses on horizontal residential projects.
The company has properties in Talisay, Talamban in Cebu City and Minglanilla. The Talamban project, which will be launched by the end of this year, is a 55-60 unit townhouse project in a 5,000 square meter property.
After the five-year development plan, Padilla said the company will also venture into building a residential condo project in Mabolo. “The condo project is still in the planning stage but we are looking at a mixed-use development for our Mabolo property,” she said.
Published in the Sun.Star Cebu newspaper on April 10, 2014.