CEBU-based 858 Mega Properties is earmarking P800 million to finance four real estate projects in Cebu.
Of these four projects, two are already in various stages of construction -- Vistana Pearl Residences and Vistana Diamond Townhouses -- while the two other -- Vistana Emerald Tower and Gold Island Resort and Residences -- are still in the pipeline.
On Thursday, February 28, the company formally launched Vistana Pearl Residences, an eight-story, mid-rise condominium tower on Sikatuna St., Cebu City. Vistana Pearl is positioned to attract the student market as its location is within Cebu’s university belt.
It features 65 studio units priced at P2.3 million to P3.1 million and five one- bedroom units priced at P4.5 million.
Vistana Pearl broke ground in June 2017 and is slated for completion by 2021.
Vistana Diamond Townhouses, on the other hand, is a nine-unit, high-end townhouse development located in Peace Valley, Capitol Site, Cebu City.
Each townhouse unit of this pocket development has four floors and is expected to be completed this year.
Moreover, Vistana Emerald Tower is an 18-story condominium to be erected in Capitol Site, Cebu City. It will have studio and one-bedroom units.
Vistana Gold Island Resort and Residences is located in Olango Island, Lapu-Lapu City.
This project features 16-unit duplex villa residences with pools, two units of presidential villas with pool, and eight units of two-storey townhouses with a common pool.
These green concept vacation houses are designed for retirees and business owners.
The Vistana brand is exclusively marketed by BG Summit Realty Inc.
Butch Guillen, president and chief executive officer of BG Summit Realty, said the company’s aggressive expansion was buoyed by the booming growth in the real estate industry, particularly in the residential segment.
“The demand for housing remains high,” said Guillen.
858 Mega Properties is owned by the Uy family, which has been in the business of construction for 23 years through MegaPlus Construction.
The family also owns Goldfin Construction and Development Corp. and Pearl Medical Aesthetic and Laser Center Inc.