A NEW player in the real estate industry in Cebu will be investing P200 million for the development of two housing projects this year.
Softouch Property Development Corp. (SPDC) said they are optimistic about business prospects because of the robust growth in the real estate industry, particularly in the demand for housing.
SPDC president Manuel Dy said they will be building houses in Barangay Sudtunggan, Lapu-Lapu City and Barangay Jugan in Consolacion this year.
Dy is the owner of MDR Microware Sales Inc., a supplier of computer parts, computer accessories and peripherals in Visayas and Mindanao. He said he diversified his business by venturing into real estate because of the robust growth of the industry in the past years.
SPDC started its operations in 2009. Its first project was Softouch Subdivision in Upper Cala-joan in Minglanilla.
Market feedback
Last Saturday, the company launched its second project called Anami Homes, a mid-range development in a 10-hectare property in Barangay Sudtunggan in Lapu-Lapu City.
According to Ely Jumao-as, Softouch general manager, the company will initially develop 1.3 hectares of the property, which will have about a hundred houses. He said they will first look at the market’s feedback before expanding.
Anami Homes features four model Asian contemporary house units like townhouses with or without a terrace and single detached houses with or without a terrace with prices ranging from P1.7 million to P3 million.
Among the subdivision’s amenities are a multipurpose hall and a covered basketball court. The company hopes to complete development in the first quarter next year and residents can start moving in the middle of next year.
“This project specifically targets the middle-class, start-up families, employees and overseas Filipino workers,” Jumao-as said.
He said people now prefer owning homes rather than renting houses because of affordable rates and good payment schemes.
Apart from the Anami Homes, the company will also develop a 2.1-hectare property in Consolacion into an economic-housing project starting November this year. The project will have about 250 house units.
Growth
According to National Economic Development Authority Director General Cayetano Paderanga, real estate and private construction will continue to remain upbeat this year, given the bright prospects in the property market like office, residential, retail and hotel/leisure submarkets.
Jumao-as said they are optimistic on the real estate industry despite the presence of big players in the market today because of the robust growth of commercial establishments and manufacturing industries in Cebu.
“The company is open to build condominiums or beachfront communities depending on the needs and opportunities in the market. But what we are focusing now, since we are a new player in the industry, is to build the company’s brand by delivering affordable yet high quality houses to the Cebuano market,” Dy said.
Published in the Sun.Star Cebu newspaper on September 20, 2011.
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