PARAMOUNT Properties broke ground on its first development north of Cebu City, the Wellington, which is located in Barangay Cogon, Compostela, Cebu.
Initially, Paramount Properties was concentrated on the southern part of the island, particularly in the areas of Minglanilla, Naga City and Carcar City. This move marks the company’s push towards other areas such as Compostela, Mactan Island and Cebu City.
Paramount Properties vice president for sales and marketing Arli Cañedo said: “The market is still there and it’s growing even stronger. A lot of the Filipinos who have spent several years working overseas are now ready to retire or invest either in their hometowns or towns just a few minutes away from Metro Cebu. They comprise the bulk of our market but a large percentage also come from locals who are ready to purchase new homes.”
This new community in Wellington is seen to cater to the affordable and mid-market but as Cañedo wishes to point out, the commitment of their company is to build residences of higher quality yet offered at more affordable rates than similar products currently available in the market.
“Price ranges for our homes at Wellington start at P2.3 million, but the standards set are valued much higher than that. Our houses, for example, are smart homes with built-in security systems and the community is equipped with the necessary amenities for a comfortable and pleasant life,” Cañedo added.
Lots are measured at a minimum cut of 52 square meters (sq.m) up to 313 sq.m. and a total of 50 lots will soon be available to the market.
Paramount Properties developed its first community, Residences of Coral Bay, a beachfront community in Minglanilla, in 2006. Two more developments followed both also situated along the seaside coast, the Fonte Di Versailles and The Mazari Cove.
More projects rose in the south of Cebu, namely Zen Residences Vizkaya and Francesca Highlands in Minglanilla. Other projects are in Carcar, namely La Cresta Homes, La Cresta Hills and the Segovia South Villas.
Paramount Properties is the real estate residential subsidiary of Cañedo Equity Ventures Inc. Its affiliate companies include La Cresta Homes Inc., Formobilt Corp., GoldCoast Property Management, Pacific Utilities & Resources Inc., Technical Vocational Center of Cebu, Celestial Meadows Developers Corp. and Frasec Ventures Corp. (PR)