P2.5 billion earmarked for Aeon Towers

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Sunday, March 18, 2012


THE FTC Group of Companies in Davao City allocated some P2.5 billion for the construction of its high-rise, state-of-the art mixed-use condominium along J.P Laurel Avenue.

Maria Victoria Pescador, executive sales and admin head of Aeon Towers, said the condominium is different from other existing box-type condominiums in the city as each unit is already semi-furnished with a modular cabinets and tiled floors.

Pescador said the groundbreaking is slated December 2012, but added they will start dismantling the existing infrastructure around the area in the third quarter of this year.

"The target completion date will be on June 2016," Pescador said in an interview Friday, although she pointed out that the construction can possibly be done as early as 2015.

She said the condominium will be resting in a 4,574-square-meter lot where they will maximize the entire area for the structure of the 35-storey building.

Of the 35, 30 floors will be set aside for the units and five for the basement, according to Pescador.

She added that they have been receiving letter of intents from interested clients who would like to buy a unit at Aeon Towers.

"It's already 25 percent of the total number of units," Pescador said, adding that Aeon Towers has a total of 500 units.

The units have two classifications, a studio-type and penthouse with prices ranging from P2.5 million and P20 to P30 million, respectively.

Pescador said comprising the Aeon Towers will be hotel, bars and restaurants, infinity pool, and a supermarket. The supermarket will occupy 50 percent of the total ground floor area.

Based on the study they conducted, Pescador said it will be more profitable investing in a condominium than placing money in a time deposit.

"After the turnover of the unit to the client, he can rent it out. Other condominiums, they rent it out from P20,000 to P30,000 a month," Pesscador said.

Published in the Sun.Star Davao newspaper on March 19, 2012.

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