Cebu developer launches 1st project

CEBU-based developer Armark Realty and Development Corp. is launching today its first housing development in Alang-Alang, Mandaue City.

Some 48 house units will made available as soon as Silver Sea subdivision will be completed in the next one or two years, said Kent Hsu, the person in charge of the development.

Hsu said the project has a total lot area of 6,500 square meters and will house three divisions of Mediterranean townhouses.

Townhouse 1 will have 35 house units each with a floor area of 148 sqm, while Townhouse 2 will have 12 house units with floor areas of 190 sqm. Townhouse 3, on the other hand, will just have one unit.

All house units are two-storey structures with three bedrooms on the second floor and one bedroom on the ground floor. Each house unit also has three toilet and bath rooms.

Hsu said the high-end type of development hopes to target the local and foreign market, particularly overseas Filipino workers and professionals.

Its prices range from P5 million to P9 million. The project’s pre-selling starts today.

Hsu said they have already gathered about 40 interested buyers, of whom 15 of them have already expressed commitment in owning one of the house units.

He said the project is near schools, public market and other establishments. “It is really located right at the heart of Mandaue,” he said.

Hsu said about five house units are now ready for occupancy.

“Cebu is constantly growing and this can be manifested in the growing demand for housing,” Hsu said.

The Subdivision and Housing Developers Association Inc. (SHDA) in the region earlier reported that the positive outlook of the housing industry is buoyed by the strong inflow of remittances from abroad as well as the huge housing backlog of Cebu, which is now at 50,000 units.