AFTER two long-awaited years, the Philippine Estates Corporation held its groundbreaking ceremony for their upcoming project, the Wellford Residences Mactan, on Friday, 9 a.m., April 7, 2022 at their residence’s site of Barangay Subabasbas, Lapu-Lapu City.
The ceremony was attended by the Philippine Estates Corporation’s president and chief executive officer Elvira Ting, chief operating officer Glenn Gerald Pantig, and barangay captain of Subabasbas Joselito Tibon.
The Philippine Estates Corporation is a realty company based in Metro Manila. They have several completed projects here in Cebu, including the four phases of the residential subdivision projects and one townhouse project.
For the past 20 years, the company has been developing subdivision and housing development in Mactan, having completed 4 successful projects.
In doing so, they have decided to launch their very first vertical project with the Wellford Residences, a condominium that will be developed within the vicinity of Mactan.
The Wellford Residences, having a modern American architectural theme, will have two residential towers: Madisson and Washington. There will be over 200 units mixed of studio, 1-bedroom, and penthouse.
The unit will be delivered and finished with a complete toilet, bath fixtures, and a modular sink, along with a complimentary 1.5 HP window-type AC unit.
In terms of expenses, the reservation fee costs around P10,000, having equity of 20 percent payable in 24 months. The remaining balance may be payable through bank, Pag-ibig, or in-house financing.
With the condominium being closed to the Cordova-Cebu bridge, president and chief executive officer Elvira Ting expressed her sentiments for developing and establishing their upcoming project in Mactan.
“Mactan is a sprawling and developing community near the third bridge, and we do foresee that grew out in this area will further increase in the next few years,” she said.
The construction for the Madisson tower will commence this year’s May, with the anticipation of completing the first building by year-end next year. Meanwhile, the anticipated date for the Washington tower will be this upcoming 2023, having a total of two years for the project’s completion.
Carrying hope and determination side by side, Ting shared her plans of developing more vertical projects, similar to the Wellford Residences, soon not only within Cebu but throughout the Visayas.
Along with the Philippine Estate Corporation, a few notable members of the VLGV and Associates Incorporated, AVC Development and Construction Corporation, and other well-established bank companies here in Cebu attended the ceremony.
The Philippine Estates Corporation, together with the president and CEO and principal structural engineer of VLGV and Associates Engineer Ven Lee Vilvar and vice president of AVC Development and Construction Corporation Engineer Albert Pazon had their contract signing last Thursday, 5 p.m., April 7, 2022 at Waterfront Cebu. (SPONSORED CONTENT)