DEVELOPER Paramount Property Ventures Inc. (PPVI) began last Saturday the construction of its 6.5-hectare beachfront community, The Mazari Cove in Inayagan, Naga, Cebu.
The Mazari Cove is the third beachfront community project of PPVI after Coral Bay and Fonte Di Versailles, both in Minganilla.
The company, which focuses on developments in the south, is eyeing roughly P75 million for the development of the project, which will offer 371 residential units.
“Mazari is a high-end residential type of development but with affordable prices,” said PPVI president Abelardo Cañedo Jr.
The project’s house and lot unit price ranges from P1.2 million to P2.5 million.
PPVI sales and marketing head Gerald Lim Suan reported the fast sales take-up of their housing units since its pre-selling period last May.
Lim Suan said about 67 have made reservations for the housing units for the first tranche of the project, which has about 142 units.
“The beachfront development is one of those projects that are easier to sell,” Cañedo said. This type of development is the most preferred by buyers in the retirees market.
Mazari Cove features a cluster of a dozen homes called The Enclave, where each unit has a 114-square-meter floor area with a large bedroom, dressing area and an outdoor living area with a sundeck. The resort-style community will also offera playground, pavilion, koi pond, beach access, beachfront viewing deck, jogging trail, a Zen garden and a commercial area.
PPVI hopes to deliver all the housing units to owners by 2013.