IN LESS than three years since the Gaisano Grand Group’s real estate arm was established, Grand Land Inc. has already launched five projects with 4,300 houses and condominium units combined upon completion.
This include its flagship project Grand Residences in Banilad in Cebu City, Amani Grand Mactan in Lapu Lapu City, and City Homes Mactan, Mandaue, and Minglanilla.
In a press conference yesterday, Grand Land president Ryan Bernard Go said the company is starting to turn over 247 units of Tower 1. Turnover was initially planned to be done in December last year, according to the official, but they moved it to mid-March because they upgraded the common areas to full wall and floor granite.
Meanwhile, 247 units in Tower 2 are scheduled to be turned over in the third quarter of this year. Construction of the third tower is also ongoing. Grand Land’s Grand Residences project is set to deliver more than 2,000 condominium units in the market in 2018.
In addition, scheduled for turnover within the year are Grand Land’s housing projects in Mactan and Mandaue under the City Homes brand. Grand Mall Davao is also eyed to be finished in the first half of the year.
“We actually have more projects to come but we have to limit it for now because we lack manpower,” Go said at the sidelines of the event.
He said Grand Land is setting to launch at least two projects within the year, but four projects are in the pipeline to date.
Grand Land has also expanded its presence in Davao, aside from the mall, with a condominium project, Amani Davao in Buhangin, Davao City.
In addition, Go said the company is gearing up to launch a new venture, Grand Land’s sixth project in Cebu, the 30-storey Grand Tower in North Reclamation Area across SM City Cebu which will house retail shops, office spaces, and 270 hotel rooms, sold as condotels, to be managed by Dusit International carrying it’s four-star brand, Dusit Princess.
Official launching of the P2 billion project, however, will be done before June this year, according to Go. Grand Towers is eyed to start operations in late 2018 or early 2019.
“We see that the next industry coming (after real estate) is tourism. With the coming expansion of the airport, and Cebu being a top tourist destination, we want to do our share in that growth,” Go said, noting in particular the demand in more international hotel brands in the province.
Grand Tower’s office spaces are sold starting at P4.5 million for a 50-square meter area. Condotels are sold at P3.5 million for a 25 square-meter space. Leasable retail spaces are targeted for specialty restaurants which will primarily serve hotel guests.
Upon completion, Dusit Princess Cebu is expected to generate at least 300 jobs. It will be the second Dusit Princess in the Philippines, after the one in Manila, which is still under construction.
Go said the company has received several letters of intent for its Grand Towers project, citing optimism of the project’s future contribution to Cebu’s vibrant tourism industry.
The company is also coming up with a socialized housing project in Lapu Lapu City, but it is still waiting for a permit from the Housing and Land Use Regulatory Board.