Resort-type condo project to rise in Mabolo

ONE of five residential projects described as a “stylish, modern urban condominium village that evokes a resort-like community” was launched in a 3.2 hectare property in barangay Mabolo, Cebu City last Saturday.

“It’s a city within a city concept. We have studio units, one-bedroom and two-bedroom units that ranges from P1.7 million to P5.6 million,” said Tina Pestano, vice president for sales and marketing of Grand Land Inc.

Grand Land Inc. president Ryan Bernard Go said the project will have six mid-rise buildings with at least 247 units for each tower. He said they are looking at a P700 million investment for the first two towers.

“We are targeting to finish development of the whole project within ten years,” Go said.

He said Grand Land Inc., the developer arm of Gaisano Grand Group, wants to make its presence felt in Cebu’s booming real estate industry.

Go said the company will focus on value for money housing units that will be located near malls and other basic facilities like hospitals, road networks and schools.

As of last Friday, Go said they sold 215 out of 247 units in the first tower.

“It’s very encouraging and a clear indication that the market is expanding especially the middle market segment which we are targeting to cater,” Go said.

Grand Land Inc.’s first project was a pocket development in Gemsville in barangay Lahug   called City Homes Gemsville.

Pestano said all 10 town home units  costing P3.5 million to P4.2 million each were sold out.

Go said Grand Land Inc. has four more projects to be launched next year.

Three of them are City Homes projects while the other one is another Grand Residences project to be located in a 2.4 hectares property in Mactan, he said.

City Homes Mactan which has 105  units, City Homes Mandaue with 72 units and City Homes Minglanilla with 112 units are targeted for launching next year.

With their Gaisano  mall networks in other provinces and major cities in the country, Go said they are  planning their first project in Davao next year.

“Our vision is to be where we have existing malls  all over the Visayas and Mindanao. We  want to focus there in terms of expansions outside of Cebu,” said Go.

After Davao, Grand Land Inc. is looking at  Bacolod, Iloilo and Roxas City.  To entice more buyers, the group is planning a package for  home owners that will allow them shopping privileges in Gasiano  malls.

“We are still seeing a large market for our products. In Cebu alone the population is huge and we’ve seen more young professionals buying their own homes. That’s why we have all these projects already lined up,” Go said.