A MANILA-BASED real estate company is building 129 units of house and lot in a 2.3 hectare development in Liloan amid the pandemic-induced economic crisis.
Vanderbuilt Properties International, on Thursday, Oct. 15, announced it is developing a residential community named The Preston by Vanderbuilt, its flagship project in Cebu.
“Our vision at Vanderbuilt Properties is to offer a modern and forward-thinking solution for potential homebuyers in Cebu. We want to offer an option that connects with their avid admiration for modern architecture and design,” said Manila-based business owner Ricky Sy, whose family’s background in real estate inspired him to start his own business and invest in Cebu.
The Preston was supposed to be launched in April but the lockdowns prevented the company from pursuing the initial ground works. But with the easing of the quarantine status, the company started building the road networks, model houses and other amenities.
The project is slated for completion in the fourth quarter of 2022.
While he understood the employment struggles and economic pains brought about by the coronvirus pandemic, Sy said they are, however, motivated to pursue the project because of the market’s aspiration to own a comfortable home, especially during this depressing time.
The Preston by Vanderbuilt is a modern low density community. Each unit will have a floor area ranging from 117 to 167 square meters and lot area ranging from 80 to 130 square meters. The houses are equipped with four bedrooms with three toilet and baths and a car garage.
House and lot units at The Preston are composed of duplex, single-attached and single-detached units with prices ranging from P5 million to P6 million.
Homeowners can enjoy exclusive amenities such as a clubhouse with swimming pool, multi-purpose function rooms, a full-sized covered basketball court, landscaped parks and a playground.
The Preston is located in San Vicente, Liloan, a town which Sy described has a good blend of urban and nature landscape that is ideal for starting families, overseas Filipino workers and young professionals.
Sy has yet to cite areas for future expansions in Cebu but he stressed that Cebu is on the radar of the company’s planned expansions under this new normal landscape.