Wednesday, January 17, 2007 AboitizLand bares plan for condo, looks to northern Cebu for new site
THE real estate arm of the Aboitiz group is planning to implement a condominium project that will cater to Cebu’s young population.
AboitizLand president and chief operating officer Andoni Aboitiz said the company plans to build several condominiums late this year or early 2008 at its property in Mabolo, Cebu City.
While AboitizLand is yet to determine the size of the project site, Aboitiz said the undertaking will involve the construction of studio-typed condos priced between P1.5 million and P3.5 million.
He said the condo-minium’s ground floor will be allotted for commercial facilities such as restaurants, bars, gym and other amenities that most of today’s youth are enjoying.
“The city will change drastically in the next five years and land is very expensive which will force some people to settle back in the urban area,” he said during the launching of the Molave Highlands Residences in the northern towns of Liloan and Consolacion last Saturday.
Garden village
Molave Highlands Residences is a ready-made garden village with 32 house-and-lot units.
It is described as a “village within a village” covering a total lot area of 180 square meters inside Molave Highlands’ 13-hectare property.
Aboitiz said the Highlands Residences caters to buyers who want a readily available house-and-lot unit while the Molave Highlands are for buyers who intend to purchase only the residential lots.
Molave Highlands, which was introduced in 2001, has only 30 of the 392 total residential lots available for sale, he said.
Aboitiz said since the company has been getting inquiries from potential customers, he expects the house-and-lot units of the Highland Residences to be sold out by the end of the year.
House-and-lot units at the Swiss-inspired village are priced at an average of P3 million each. There are three architectural designs to choose from, namely Monterosa, Bernina and Chasseral.
All three designs have landscaped lawns, two bedrooms, a den, living room, dining room, kitchen, porch and service sink.
Molave village, on the other hand, has several amenities that include picnic grounds, swimming pool, jogging paths and trekking trails.
Aboitiz said AboitizLand is also looking for areas in northern Cebu for another residential development.
To foster neighborly relations among residents, Aboitizland’s property management division will help homeowners form an association that will manage the village.
“Residents in the Highlands Residences are full members of the association,” Aboitiz said. (MMM)
