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Thursday, April 4, 2013
FIVE months after the firm’s official announcement that they would venture into real estate, homegrown firm Worldwide Central Properties Inc. (WCPI) announced yesterday they have already sold 40 percent of the first tower of their flagship project, Sundance Residences.
Most of the units sold since they started pre-selling last December are one-bedroom units bought mostly by local buyers within the project’s location in Banawa, WCPI president Kent Ong said.
Second home
Kent said local buyers from Mactan have also bought units of their project to use as their second home, particularly those families who either work or have children studying in the city.
“The traffic condition to and from Mactan has become an important consideration for families to own second homes within the city,” Kent said.
Towers
WCPI is the real estate arm and a sister company of Worldwide Steel Group and Worldwide Home Depot. The new company was founded last year. The family behind the Worldwide Group of Companies has been in the construction industry for 36 years.
Sundance Residences will have two mid-rise condominium towers that sit on a 3,200-square meter property along R. Duterte St. in Banawa, Cebu City.
The first tower will be 18 floors high with 16 residential floors, one commercial floor, a roof deck, and one basement level. The second tower will be about the same height.
The first tower will have over 200 units. The first phase of the construction is scheduled in the second quarter of this year. The target turnover of units is in 2015.
Urban living
Kent said the firm will invest at most P500 million for the construction of the first tower. As soon as all units will be sold, the company will launch the second tower.
Sharon Ann Ong, WCPI vice-president for marketing and sales, said the project provides for the essentials of urban living and is anchored on family-centered amenities.
Amenities
Sundance Residences claims to be the only condominium development that will have a daycare center professionally managed by a third party.
The project will also have a retail component at the ground floor that will house restaurants, a coffee shop, convenience store, pharmacy and other service stores.
The units are priced between P1.8 million and P6 million. These come in studio, one-bedroom and two-bedroom units.
Plans
WCPI has tapped architect Antonio Trillanes Jr. to head the design team and Kenneth Cobonpue to handle the interior design for Sundance Residences.
Backed by the firm’s solid background in the construction business, Kent said they are a “serious player” in the real estate industry. They now have other projects in the pipeline.
“After this project, we are eyeing another vertical project within the city. We are now in the planning stage,” Sharon said.
“We believe growth in the industry will continue in the coming years, given the good and stable economic environment we have.”
The company hosted an economic forum last month where Ateneo Graduate School of Business professor Enrique Soriano assured a growing demand for real estate.
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