Developer launches Lapu project-A A +A
Monday, July 14, 2014
JVC sales and marketing manager Michele Chiu said they are accelerating their projects in the economic and socialized segments to help address the country’s huge housing backlog. Above is the company’s Astana housing project in Barangay Babag, Lapu-Lapu City. (Allan Cuizon)
JOHNDORF Ventures Corp. (JVC) is setting aside P1 billion as investment for the development of three to four residential projects in Cebu and Mindanao this year. Cebu will have P800 million as share.
Over the weekend, the company launched its latest development, the three-hectare economic housing in Barangay Babag, Lapu-Lapu City. The townhouse development will have a total of 413 units.
Priced at P1.250 million each, the two-storey townhouse unit at Astana has a floor area of 52 square meters (sq.m) and lot area of 42 sq.m. The contemporary Asian-themed living spaces will have two-bedroom units with one toilet and bath.
According to company officials, the project will be completed by the second quarter of 2016.
The company said Astana is named after “the new capital of Kazakhstan, a west Asian nation that has been progressive since after it gained independence from the former Soviet Union in the 1990s.”
JVC sales and marketing manager Michele Chiu said the company is accelerating its projects in the economic and socialized segments to help address the country’s huge housing backlog that has not yet been met despite the booming construction in the housing sector.
“Nationwide, we have around 500,000 backlog in economic housing,” said Raymond Lim, JVC assistant head for construction.
Prior to the launch of the project, Chiu said the company already sold 70 units of the project. Of the number, 30 percent are overseas Filipino workers. Houses at Astana are ideal for start-up families and professionals, she said.
Chiu said in a statement, “the master-planned residential community is meant for value-driven, vibrant and dynamic homeowners, who want to live in communities close to both the city and leisure of the sea.”
To complete their offering to potential homeowners, Raymond said they will also build a 2,000 sq.m commercial component in the area to serve the needs of potential residents in the Astana expansion that will be developed in the next few months.
Abby Lim, JVC’s finance and admin head, said the total Astana project sits on a nine-hectare property. It will be divided into three projects, with three hectares of land for each project.
“After this Astana project, we will be launching the Astana 2 and another housing project still in Lapu-Lapu city,” said Abby. “In the pipeline also is Astana 3.”
These two upcoming projects will have close to 1,000 units. Astana is the sixth project of JVC in Cebu.
Published in the Sun.Star Cebu newspaper on July 15, 2014.