After opening its first condominium project The Persimmon, Aboitiz Land Inc. has introduced another condominium, this time in Canduman, Mandaue City, which will start development by the first quarter of 2012.
AboitizLand sales manager Grace Lepiten said the company was encouraged by the fast take up rate of units in The Persimmon in Mabolo, Cebu City which sold like “hotcakes” after being launched last year.
“We remain optimistic about the market for condominiums. We always see to it that we put more value in our products,” she said.
Hanaya is a 5.2 hectare property in Canduman at the border between Cebu City and Mandaue City.
The resort-themed project aims to tap high-end startup families and accomplished professionals who want to come home to a relaxing environment.
A typical unit in Hanaya features two bedrooms and a single toilet and bath, a kitchen, dining and living areas in 44 square meters.
Phase one will have four six-storey buildings with 94 units per building.
This involves an investment of P750 million for land development and construction of facilities and amenities.
“For the whole project we expect to invest around P1.2 billion for three phases,” said Lepiten.
Phase 1 will cover about 2.5 hectares of the property leaving 2.7 hectares more for the second and third phases.
AboitizLand expects to start development by first quarter of 2012 and to deliver the first building by the second quarter of 2013.
Pia Mantecon, Aboitizland Inc. vice president for sales and marketing, said another subdivision project will be launched in November in North Bacayan, Cebu City, for those who want house and lot units similar to that in Pristina North.
“It will be a bigger project than Pristina North, about double the size with new and exciting themes that we are sure will draw another positive response,” Mantecon said.