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Sunday, August 25, 2019
CEBU

Kinmen Land builds 20-hectare township Project in Compostela

SEALED. From left, Estates and Frontier Group (EFG) architect Carl Saycon, EFG chief finance officer Helbert Espinosa, EFG president and chief executive officer Lydwena Eco and Kinmen Land Realty Inc. president and chief executive officer Bennett Palang enter into a partnership on Tuesday, July 16, 2019 for the development of the Kinmen Land’s 20-hectare township project in Compostela, Cebu. (Sunstar Photo / Arni Aclao)

A 20-HECTARE township project will soon rise in the northern town of Compostela, Cebu owned by Kinmen Land Developer Inc.

Bennett Palang, chief executive officer of Kinmen Land, said the company is set to take an aggressive stance this year by buildings its first township project in Cebu dubbed as Project Santiago.

The project located in Barangay Tamiao, which is 1.8 kilometers away from the national highway and is near the Cotcot river, features 2,000 residential units that will occupy 16 hectares of the property.

Palang said the project development will be done in 17 phases.

Kinmen Land is a family-owned corporation based in Iligan City. Its first project was The Strip Mall at Pala-o, Iligan City that was built in 2006.

Palang said his family has been expanding its land acquisition activities in anticipation of future developments.

“It started way back when our parents started purchasing properties for investment. During their time, they had a very conservative approach in developing real estate,” Palang said.

Established in 2005, Kinmen Land was named after the hometown of the family’s patriarch in Fujian, China.

“We are into construction and hardware importation, but now this is our biggest venture so far. Hopefully, this will continue to grow more,” he said.

Kinmen Land has partnered with Estates and Frontiers Group (EFG), a management consultancy firm to realize the company’s first venture in Cebu. The two firms signed an agreement Tuesday, July 19, 2019.

EFG chief executive officer Lydwena Eco said EFG will be the support and execution arm for Kinmen Land. Services include project conceptualization, execution, sales to after-sales, documentation, project turnover and property management.

Besides the residential component, Eco said the remaining four hectares will be developed into a ranch with horses, glamorous camping spots, land cabin diners and firing ranges.

“It is not just a residential development because we wanted to give our buyers the chance to get back the country feel and it’ll be very environment-friendly,” said Eco. “It will be developed into a destination where families can spend the weekend.”

The residential houses at Project Santiago are targeted at mid to high-end buyers.

Its construction will start in the fourth quarter of 2019 and is targeted to be completed in five to 10 years.

“The township would give the clients the cycle of live, work and play. We wanted them to have leisure and commercial activities,” Eco said. JOB


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