HORIZONS 101, the tallest building in Cebu City, has sold more than 800 units of its Tower 1 to buyers, Taft Properties president Christopher Narciso said.
Horizons 101, which is located along General Maxilom Avenue in Cebu City, has two towers. Tower 1 has 55 floors, while Tower 2 has 46, totaling 101 floors.
"Taft Properties is taking residential living in Cebu to the top with Horizons 101. This project has been meticulously planned and will highlight one of Taft's core principles, which is Comfort by Design," said Narciso.
He said in an interview Tuesday night that there has been much clamor for more units at Tower 1, that's why they're asking for 60 more units from the Metro-Gaisano family, who owns Taft Property Inc.
At least four of the 55 floors at Tower 1 were retained for the Metro-Gaisano siblings.
He said they have handed over at least a dozen units of Tower 1 since last week, and they are targeting to hand over to owners all the other units by May 2016.
"We are very deliberate about the schedule for the handover, because we want to ensure that we can deliver not only the unit but also the experience that we crafted for each and every one of our investors and homeowners," Narciso said.
He added that the second tower, which has 46 floors, is well on its way, and the turnover may be done in the middle of 2017.
"The second tower is already 70 percent sold and we are expecting to sell it out by 2016," he said.
Taft Properties had invested P3.6 billion for the Horizons 101.
"For the first tower, we spent close to P3 billion, but we have started the second tower already," said Narciso.
"We committed for Horizons a retail component, that's why we are increasing the area to provide better support retail facilities that would meet the requirements of our lifestyle," he said.
He added that Taft Properties is planning to build another tower early next year "to capture a wider segment."
"The third tower will be located towards the rear of 101 to expand our catering to the market segment," he said.
Narciso also revealed that they will develop a BPO component for the Horizons 101 in 2017, and after this project, Taft Properties will develop mid-rise towers, or those with 15 to 20 floors.
"We are still finalizing the plans, but the BPO component will be a separate tower," he said. "We have continuously worked to improve and enhance the project beyond what we originally committed it to be."
"We invested in Cebu because buyers here are very mature for this type of developments already. They know what they want, what they're looking for, and they know how to appreciate the true value of the different developments," Narciso said.
Horizons 101 rises to a height of 800 feet above sea level, making it the tallest building in Cebu City to date. (Sunnex)