CEBU-BASED real estate developer JEG Development Corp. has announced the launch of its real estate arm JEG Realty Corp. (JRC) to manage the business’ varied portfolio of commercial, residential and mixed-use properties.
“While real estate has long been the core of JEG Development Corp., the creation of JRC will enable us to further organize the business and its various functions,” said Marko Sarmiento, JEG Realty’s president, in a statement.
According to Sarmiento, the primary function of JEG Development Corp. is to act as a holding company, with Vivant Corp. serving as its key investor.
“JRC’s responsibility is to oversee all current and upcoming real estate projects,” he said.
JEG Realty Corp. aims to be an industry leader in the local real estate market, aggressively focusing on redefining the future of the property industry and making the Cebu community a better place to work, live and thrive.
“With JRC in place, the company’s functions and operations should run more smoothly and aid in advancing growth that is anchored on the values and goals that we envision for the company and the real estate industry,” explained Sarmiento.
Beyond propelling growth in the industry, JRC will look to capitalize on the growing demand for sustainable buildings in Cebu by investing in a more diversified portfolio of developments.
“This real estate arm seeks to continue to play an integral role in the green and sustainable development moving forward,” Sarmiento said, adding that they plan to integrate sustainability into the company and across its key projects following the establishment of its LEED Gold-certified flagship office and commercial building JEG Tower @ One Acacia.
“JRC is poised to further diversify its portfolio by building more green spaces in the industry,” he said.
Besides building an office tower, JRC also manages Tomodachi Premium Residences, which primarily caters to families and foreign nationals looking for a move-in ready place.
The company also owns The Gallery, a hip lifestyle and entertainment hub along John Paul II Avenue, Mabolo, Cebu City. It hosts establishments like cafes, restaurants, bars, as well as retail concepts.
“We are optimistic that the real estate market is finally picking up after a very rough two years. JRC is well positioned to further drive market growth by redefining real estate and offering future-proof properties that put a premium on the evolving needs of people,” Sarmiento said.