THE real estate development arm of the Aboitiz Group plans to develop more residential properties, as well as a school, under a five-year program.
AboitizLand Inc. chief executive officer Roberto Aboitiz said the company plans to open a school this year at a company-owned property in Balamban, Cebu that will cater to elementary and secondary students.
“We are still inviting school operators,” Aboitiz said in an interview with Sun.Star Cebu.
He said construction of the school is expected to begin this year.
He said that by building the school, the company hopes to help improve education of children in western Cebu.
“Balamban will be the next big thing in Cebu Province. There will be more developments there in the coming years,” he said.
He said the town’s development potentials include industrial, educational and leisure facilities, which will include real estate projects and golf courses that AboitizLand is “willing to invest” in.
With more growth in Cebu’s real estate industry, in general, Aboitiz revealed that AboitizLand will implement more big property projects, such as a township, in the next five years.
“Township projects are becoming a trend as more people want to be confined in a one-stop shop area,” he said.
With “strong demand” for condominium units in Metro Cebu that cater to young professionals, Aboitiz said the company is hastening the construction of Persimmon, which includes five medium-rise towers that house condominium units in Barangay Mabolo, Cebu City.
The 15-story towers will house commercial facilities in the ground floor, such as restaurants, bars, gym and other amenities.
The structures will rise on the site of the former Coaco Building.
AboitizLand president and chief operating officer Andoni Aboitiz earlier said the undertaking will involve the construction of studio-type condos priced between P1.5 million and P3.5 million.
Roberto said other than the overseas Filipino workers, the demand for real estate is also strong among the younger members of the labor force who have high spending capacity and the need to own studio-type dwellings.
He said there are still many properties in Metro Cebu that are potential sites for real estate development.
Roberto admitted, though, that so far AboitizLand does not have plans for mass housing projects. (MMM)
