Biz Briefs

New condo developer

Contempo Property Holdings, Inc. was launched in Cebu last week and is developing  its  first project in Cebu located in H. Cortes street in Mandaue City.

Beverly Daynan, president and chief executive officer, said the pilot project will be a community of three-residential condominium towers in a one-hectare lot.

“We will be investing close to P1 billion and will produce an additional 800 affordable units for the middle income segment,” he said.

Units will cost P1.5 million to P1.8 million each.

Dayanan said  they see a a growing demand for affordable and quality condominium properties in Cebu.

“We are starting with construction of the first tower and hope to launch another project after four years or by 2016,” Dayanan said./Reporter Aileen Garcia-Yap

AMARA’s PHASE 5 :The Parks

Expect  new developments in the last phase of  the lighthouse community of   Amara in Liloan town, Cebu.

The Parks, which consists of 56 lots,  can be the last lot-only offering in Amara,  said Francis O. Monera, president of Cebu Holdings Iinc. in a photo exhibit that opened last week in Ayala Center.

The Parks is the fifth phase of Amara.

He said they are  redesigning plans for  the sixth phase which they expect to start developing next year.

“The Parks is currently 50 percent  complete and we should be able to complete development in the area by end of this year. The next phase should follow shortly and we will be putting in twists to the original plans,” Monera said.

With many property  developers coming to Cebu, Monera said it’s important to remain competitive and keep  customers curious about their projects.

Monera said there’s still a demand for high-end projects like Amara in Cebu which showed a good take up in sales.

“Other properties have also started moving their inventories.  That only shows that people are buying. The demand is still there and we are negotiating for another high-end project in the northeast area,” he said.

Monera said the project will be bigger than Amara in Liloan town  which measures 44 hectares./Reporter Aileen Garcia-Yap