HOMEGROWN property developer Vibo Land Corp. is venturing into the residential space with its first vertical condominium project, the 15-story West Jones Residences.
Vibo Land is earmarking P1 billion to erect the high-rise tower with 307 residential units.
Gerardo Borromeo, president of Vibo Land, said they want to capture the student market in the city as the project is in close proximity to the university belt.
“We have that strategic place for parents who want their children to be safe. Instead of paying for a dormitory, they might as well invest in a condominium,” Borromeo said.
With condominiums rising in every corner, Allen Andre Suarez, the firm’s leasing and marketing head, said the project’s competitive edge is its location.
West Jones Residences sits on a 1,300-square-meter property on Uytengsu St., Barangay Sambag II, Cebu City.
“We’re very location-based. It’s always what we’re going for at Vibo,” he said.
With the chronic traffic plaguing the city, Suarez noted it is crucial for students and professionals to live near their schools or workplaces.
“Residential availability in the middle of the city is very important for the residents, the students and the workers. What sets us apart is the location of our developments. We’re always strategically located in the most convenient areas around the city,” he said.
Units at West Jones Residences are already 70 percent reserved. The remaining units have a starting price of P3.5 million.
The project is targeted for completion in the first quarter of 2020.
Besides West Jones, Vibo Land will also build another 20-story condominium named The Curve on Ramos St., Cebu City. (JOB)