“We’re just waiting for the furnishings,” Labayen told a press interview.
The nine-story facility consists of 77 hotel-rooms and 48 condominium units.
Labayen said all 48 units were reportedly sold out. He added that the total investment for the nine-story condotel is between P230 and P250 million, including the furnishings.
He also revealed that phase two of the development involves the construction of a 12-story building that will house condominium units. It is slated for completion in 2009.
The masterplan of Vistamar Garden Terraces includes four medium-rise buildings – the two 12-story and two nine-story structures, Labayen said. There will also be a much bigger swimming pool at the center of these buildings, he added.
Sta. Lucia Realty and Development Inc. (SLRDI), in partnership with the Aznar Brothers Realty Corp., is the developer of Vistamar, which is just five minutes away from the Mactan-Cebu International Airport in Lapu-Lapu City.
Gerardo Quintos, finance manager of SLRDI-Cebu, said the entire property is about 60 hectares. (MMM)
