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Sunday, February 17, 2019

Sun Gold owner ventures into real estate business

ENTREPRENEUR Ferdinand Tio, the owner of Sun Gold Home and Furnishings, is venturing into the thriving real estate industry with his new venture, SunKai Land.



Tio, who holds a majority share of SunKai Land, is eyeing at least six projects in Cebu and one in a neighboring island in the next three to five years, SunKai project development manager Michael Estomata said in an interview yesterday.



“Tio owns several properties in Cebu in prime locations, which he plans to convert into residential projects,” said Catherine Palmero, the company’s sales and marketing manager.



SunKai Land was incorporated in October 2014. The firm positions itself as a developer of middle-market residential projects.



According to Palmero they opted to concentrate on this market segment because projects within this category appeal to a wider segment of buyers, what with the the expanding middle class.



“The firm sees a bullish property sector in the years ahead on the back of Cebu’s better economic conditions as showed by the continued rise in spending and business activities,” she said.



SunKai Land is set to launch its flagship project by the second quarter of 2015.



Estomata said the project is a 500 to 550-unit condominium tower that sits on a 1,100 square meter property in Cebu City.



He, however, declined to disclose further details of the project as they are still awaiting government permits and licenses.



The condominium project, though, is scheduled for groundbreaking in the fourth quarter this year and will be completed in three years.



Asked about their edge compared to other real estate players in the industry, Palmero said the firm’s thrust is to develop projects that have value for money with flexible designs.



She also said they will not limit their marketing efforts to Cebu but will also heighten promotional efforts to regional markets, especially that Cebu is a top choice for study and work destination.



Among the company’s target markets include the overseas Filipinos, startup families, students, and young professionals.



“Being new in the industry is a challenge but we are taking inspiration to grow in this industry from the companies that started small and eventually became big players,” said Palmero.




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