KORONADAL CITY -- Camella, a subsidiary of the country's largest homebuilder Vista Land & Lifescapes, Inc., is pouring in another P500 million for the expansion of its first residential development project in this city.
Camella Koronadal, the first master-planned development in South Cotabato, will soon start the construction of houses within a 12.4 hectare property on National Highway in Barangay Carpenter Hill in Koronadal City, Central Mindanao's regional center.
"Construction of houses will start during the third quarter of this year after we are done with land development works at the site," said Mailyn Ellodar, officer-in-charge of Camella Koronadal, which is celebrating its first anniversary in the city this month.
At present, the concrete road network within the subdivision is almost complete and the construction of model houses is on-going.
Ellodar said a total of 636 housing units will be constructed, featuring three categories of Camella home models -- the low-cost Lessandra series, the mid-end Camella series and the high-end Emerald series.
House and lot package ranges from P1 million to P4.5 million.
"We are now 80 percent sold out. 2013 was a good year for Camella Koronadal. We have in fact exceeded our sales target in less than year since we launched the project," Ellodar said, as she expressed confidence on the growing property market in South Cotabato.
"In fact, we cater not only to interested buyers from Koronadal, but other nearby towns in South Cotabato. Sultan Kudarat and North Cotabato provinces." she said.
The project is the first gated and fully-fenced community to rise in this city. It is equipped with a clubhouse, a guardhouse, ball courts, children's playground, shuttle bus and other amenities abd facilities that Camella is known for.
Gov. Daisy Avance-Fuentes, during the project launch last year, said Camella's presence in this city proves the thriving economy of the area.
"The entry of big developer, such as Vista Land, in our city only proves that we are ready, and shows investors' confidence in the growing economy of the province," she said.
At present, Camella is eyeing another 10=hectare property adjacent to Camella Koronadal for its expansion project.
"We are pouring in another P500 million for the expansion to address the growing demand for housing in this part of the country," said Marlon Escalicas, Camella South-Central Mindanao cluster head.