Wednesday, October 17, 2007 4 condo towers to rise in Mactan
CONSTRUCTION of a 15-story residential condominium is set to begin this year to complete the development of Vistamar Residential Estate.
The condominium pro-ject dubbed, La Mirada, will be part of Vistamar Residential Estate a joint undertaking of Sta. Lucia Realty and Development Inc. and Orchard Property Marketing Corp. (OPMC).
OPMC vice president for sales Liezel Tuason-Magpoc said pre-selling of the residential condo units have started, with prices ranging from P2.4 million to P6.9 million.
The multi-million peso condo development will include studio-type rooms and one- to two-bedroom units. Each unit will have a floor area of 50 square meters to 80 square me-ters.
Construction is set to be finished before 2010, Magpoc said.
“The market for residential condominium units in Cebu is growing. It is selling like hotcakes,” she told Sun.Star Cebu during the property launching held at the Waterfront Cebu City Hotel and Casino.
As proof, she said Soto Grande, the nine-story, 125-unit hotel and condominium is 90 percent sold out. Hotel operations are set to start on Oct. 21.
The turnover of Soto Grande residential suites is also expected this year, Magpoc said.
Soto Grande, along with La Mirada and the soon-to-be constructed El Pueblo and El Ponteverde will make up the four towers of Residencia de Vistamar at the Vistamar Residential Estate located in Lapu-Lapu City.
The estate already features the Vistamar Country Club, a fully-operational clubhouse whose facilities include function rooms, vacation villas and recreational amenities.
Magpoc said La Mirada targets buyers like foreign expatriates in the country, immigrants and those married to foreigners.
“These are the people with high spending powers,” she said. (MMM)
