FOLLOWING its first condominium project SunVida Towers, Cebu-based developer SunKai Land Inc. is building another high-rise tower, this time with a hotel component.
The company has set aside some P1.2 billion to erect the upscale Sun Park Royal Hotel and Residences along Juan Luna Ave. in the North Reclamation Area.
The 37-storey mixed-use development will have 200 hotel rooms and 448 residential condominium units. The condominium project will offer studio, one-bedroom and two-bedroom units.
Construction of the project will begin early next year and is expected to be completed in the first quarter of 2022.
SunKai Land’s sales and marketing manager Cathy Relosa-Palmero said integrating a hotel concept in the project would boost Sun Park’s selling point, given its location.
She said this is the company’s first venture into hospitality.
“Cebu is experiencing a tremendous growth in tourism and we want to take part in this healthy growth,” said Palmero.
The full-service hotel will have a ballroom and function rooms for events and business meetings that can cater to 400 people.
Moreover, SunKai Land is set to launch three more projects this year—a 1.1-hectare Mactan Town Center with estimated construction cost of P150 million, a horizontal residential development called Sun Breeze in Minglanilla with estimated project cost of P90 million and three high-rise towers in Guadalupe.
Construction of the commercial strip mall in Mactan is ongoing and is due for turnover in December.
SunKai Land was incorporated in October 2014. The firm positions itself as a developer of middle-market residential projects. The company’s majority owner is Ferdinand Tio of Sun Gold Home and Furnishings. (KOC)