A pioneer home developer in Lapulapu City sees surge demand of condo units amid pandemic

MINERVA BC NEWMAN

LAPULAPU CITY— A pioneering home developer in Lapulapu City-- the Primary Homes, Inc (PHI) has seen the surge in demand for value-for-money condominium units bolstering its sales performance despite the pandemic.

In a media/bloggers huddle on July 28, Primary Group of Builders chairman William Christopher Liu said that PHI has been the pioneer in the residential market for 30 years already and trends today are shifting more closely to resort-style condo development and living.

  

Liu said that the launching of PHI’s Royal Oceancrest Mactan, Wednesday at its site in Basak, Sugtungan in Lapulapu City is a testimony of the company’s latest vertical development worth two billion pesos that is 60 percent of the total project is sold out at the height of the pandemic.

 “We sell to real homeowners now with units that are ready to occupy.  We notice that the market today prefers for designs that are safe and secure with spaces for wellness and leisure and a good internet connectivity and bandwidth, which we have in all our projects,” Liu said.

According to PHI Vice president for sales and marketing Ramero Espina and marketing manager Michelle Cutang that at Royal Oceancrest Mactan, a lot is dedicated to free and open space, giving residents the opportunity to relax and reconnect, roam and immerse in the beauty of the gardens, bamboo tunnels, yoga pocket spaces, and other nature features.

Espina said that despite the difficulties and uncertainties brought by the coronavirus pandemic, they saw a high take-up of units in its resort condominium Royal Oceancrest Mactan— an indication that there is a strong demand these days for such types of properties.

“The lockdown last year greatly affected businesses but surprisingly sales for condo units picked up, quite significantly considering the challenging times,” Espina added.

Espina said many of their buyers are young professionals and starting families either looking for affordable living space that they can move in right away, or those who are looking for more valuable purpose for their money. They are generally first-time real-estate buyers.

The property offers finished and bare units with a floor area of 28sq m to 60sq m.  Finished units are priced between P2.4M to P6.1M while Bare units are priced at 20 percent lower from P1.9M to P4.8M. Prices already include taxes and transfer charges.

Royal Oceancrest Mactan is a four-tower development in Barangay Basak, Lapu-Lapu City, one of the fastest growing, highly urbanized cities in the country.  It sits on a 1.4-hectare property along Sudtunggan Road which development is made up of mid-rise buildings with a total of 952 residential and commercial units.

The community is designed as a safe and secure haven of wellness and leisure with 60 percent of the total development dedicated to free and open space, giving residents the opportunity to relax and reconnect, roam and immerse in the beauty of the gardens, bamboo tunnels, yoga pocket spaces, and other nature features.

Among the other amenities include a swimming pool, clubhouse, fitness gym, play areas, jogging paths, edible gardens, grilling station, and commercial spaces.

Royal Oceancrest Mactan is close to the Mactan International Airport (MCIA), the Cebu-Cordova Link Expressway (CCLEX), export zones, first-class resorts and hotels, export-oriented manufacturing companies and BPOs which makes it an attractive location for property investments.

“With billions worth of new industrial and world-class developments, Lapu Lapu City is arguably the perfect choice to settle or invest in Cebu.  Condos are great investments because they are easily acquired — buyers can get a condo through easy-to-pay financing and the younger generation now is becoming more and more financial and investment literate and we are here to support them with our flexible financing options,” Espina said.

Despite pandemic-disruptions, returns on condo investment and rental yield remain high. Owners may opt to lease out their units and have the rest of the mortgage be paid with the rental proceeds, Espina added.

Construction of Royal Oceancrest Mactan is at its full swing and is set to start turning over units to their buyers early next year. Its showroom is at the project site and it is open daily from 9 am to 5 pm. For details, contact Primary Homes at ‪032-253-9979 or visit www.primaryhomes.com.