FEWER projects will be launched by Grand Land Inc. in 2016, as the developer said it will focus on the turnover of some 700 units across its three projects in Cebu.
Grand Land president Ryan Bernard Go said there will be two new projects scheduled for launching next year, the Anahaw walk-up condominium in Lapu-Lapu City and the Amani condominium in Davao City.
“We have to hold some projects next year because we want to focus on the turnover of units. Next year, we will be very busy with the
turnover,” Go said in an interview last Thursday.
There will be 500 condominium units scheduled for turnover to home buyers next year in Grand Residences, its flagship project located on M.J. Cuenco Ave. in Cebu City, although Go said they have already started to turn over some of these this year.
Hotel expansion
The other 200 units are houses in City Homes Mandaue and in City Homes Mactan.
In the next few years, the homegrown developer said, it is also planning to expand its hotel business.
Grand Land is working on the construction of Grand Tower Cebu, a 30-storey mixed-use project, where the Dusit Princess Hotel will nestle and will start to operate by 2019.
“Tourism and real estate are two of the strongest sectors now, and we see that we would like to participate so we can give Cebuanos and tourists quality homes and hotels,” said Go.
The company is already in talks with some hotel operators for partnerships, he added.
While real estate and tourism are Cebu’s top-performing sectors now, Go said this has encouraged more competitors, and national and international players are coming in to take advantage of Cebu’s favorable economy.
“There’s a lot of competition now, but competition gave us reasons to be more innovative and to find our niches,” Go said.
The real estate sector this year, where Grand Land, is one of the many players, continues its positive performance, the developer thinks.
The increasing value of Grand Land’s projects, like Grand Residences, is one indicator.
From P80,000 per square meter in the last three years, property values have risen to P110,000 now.