Thursday, October 04, 2007 Real estate developer to launch Mabolo project in December
THE real estate development arm of the Aboitiz Group plans to launch this December a residential condominium and commercial complex in Barangay Mabolo, Cebu City.
AboitizLand vice president for sales, marketing and customer service Pia Mantecon said the real estate development, dubbed The Persimmon, will feature four 15-story towers that will house residential condominium units and commercial spaces.
She said the name of the project is based on the English word of the tree, which is the basis for the name of Barangay Mabolo.
Persimmon is a tree species that belongs to the genus Diospyros, the same genus that mabolo (scientific name Diospyros discolor) belongs to.
The towers, which will rise on a property that many Cebu City residents refer to as the Coaco building, will be an urban village, Mantecon said.
She said the commercial spaces will be located on the ground floor of the condo towers and will feature restaurants, bars, gym and other amenities.
She said the project has been generating a lot of interest, although site development has barely started.
AboitizLand president and chief operating officer Andoni Aboitiz earlier said the condominium towers will be targeted at young professionals. He said studio type condos at The Persimmon will have a price tag of P1.5 million to P3.5 million.
“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 had said during the recent launching of the Molave Highlands Residences in the northern towns of Liloan and Consolacion.
Last week, AboitizLand launched Kishanta Zen Residences, the house-and-lot component of the Kishanta subdivision, located in the hills of Talisay City.
AboitizLand developed five models for Kishanta Zen Residences and are priced from P2 million to P3.5 million. (LAP)
