Tag: Cebu Housing

PrimaryHomes Breaks Ground On Mactan Project’s Final Tower

Award-winning developer Primary Homes Inc. (PHI) marked another significant milestone for Royal Oceancrest Mactan as the company officials broke ground its Tower D on June 15, 2022.

Tower D will have finished condo units; it will also have commercial spaces that will be available for rent. This building will complete the company’s first Royal Oceancrest development.

Located along Sudtunggan Road in Barangay Basak, Lapu-lapu City, the company’s P2B mixed-used resort condominium in Mactan Island will ultimately be completed by 2024. In spite the lockdowns brought by the covid-19 pandemic, PrimaryHomes was able to make sure that the project is being constructed on-time.

Royal Oceancrest Mactan will feature resort-style dwelling perfect for young professionals and starting families either looking for a perfect living space, or for properties to be rented out.

With billions worth of new industrial and world-class developments, Lapu Lapu City would be a perfect choice to settle or invest in Cebu. The project’s close proximity to the Mactan International Airport, the newly opened Cebu-Cordova Link Expressway, export zones, first-class resorts and hotels, export-oriented manufacturing companies and BPOs makes Royal Oceancrest Mactan a desirable address for working professionals and those eyeing to do business in the city, thus, making it an attractive location for property purchases.

“Now that we are recovering as a community, we look forward to continue to contribute to the growth and vibrancy of Lapu-lapu City through Royal Oceancrest Mactan,” said Ramero Espina, vice-president for sales and marketing of PHI.

Since the company started selling last 2019, and even with the pandemic that started the year after, the project has been consistent with its remarkable sales performance.

“The younger generation is becoming more financial literate. The market’s priorities have shifted due to the crisis, and we’ve seen an increase of first-time real-estate investors more specifically for our Royal Oceancrest Mactan project,” Ramero Espina said.

“As a reliable developer, we are supporting them fully in their investment journey with our all-in pricing, seamless sales process, flexible financing, and on-time delivery,” Espina added.

Here's the video of the groundbreaking ceremony: https://youtu.be/WLuaotXrtYg

Royal Oceancrest Mactan’s resort amenities are designed for wellness and leisure with 60% of the total development dedicated for open spaces and nature features like its gardens, bamboo tunnels, and pocket yoga spaces. Its amenities also include swimming pool, clubhouse, fitness gym, play areas, jogging paths, edible gardens, grilling station, and commercial spaces.

Royal Oceancrest Towers A, B, and C are now 80% to 90% sold and Tower D will soon be available for sale.

Start your investment journey now! Know more about the resort-style living at Royal Oceancrest Mactan by checking out http://www.primaryhomes.com. You can also have a preview of your living space in the project by visiting its showroom at the project site itself which is open daily from 9AM to 5PM.



PrimaryHomes Operations Manager Ariel Jose Mercado,
PrimaryHomes Project Development Manager Engr. Loubna Grefaldeo,
Primary Group of Builders Chairman Engr. William Christopher Liu Jr.,
PrimaryHomes President Arct. Stephen Charles Liu,
PrimaryHomes Finance Head Amabelle Villaruel,
PrimaryHomes VP for Sales and Marketing Ramero Espina

Duros Land Properties sold-out 3 projects in 2019, gears for more in 2020!

Homegrown developer Duros Land Properties had a banner year for 2019 as it sold-out three of its projects in Cebu City and Liloan, Cebu.

This was announced by its president, Fe Mantuhac Barino during the Broker’s Appreciation Night party held in IC3 Convention Center.

In front of Cebu’s top real estate brokers and sellers, Mrs Barino, together with husband Lito Barino, the founder and chairman of Duros conglomerate announced the successful 2019 campaign that depleted the inventories of two residential subdivisions in Liloan and that of its condominium project in Lahug, Cebu City.

The Padgett Place is a 26-storey premium condominium with luxurious amenities and ultra-spacious units is located in Molave st. Lahug.

Woodland Park Residences Phase 1 in Upper Yati, Liloan, with its more than 150 units were likewise sold-out.

Another project, Bay-Ang Ridge which was launched only last December 2018 also saw its inventories wiped-out within the year.

Due to the rapid take-up of its projects, The Barino couple divulged that Duros Land has prepared an exciting line-up of new developments for 2020.

First in the list is a high-end 74-hectare lot only subdivision in the famed Lataban Hills in Barangay Lataban, Liloan. With amenities like an orchard forest, communal garden and access to Liloan Golf among others, it is certainly going to be another blockbuster in the making.

Then there’s a 20-storey residential condominium project in the highly sought-after area of Imus, Cebu City. It is conveniently located halfway between University of San Carlos and Robinsons Galleria Cebu.

Also in the company’s pipeline for next year is a midrise condotel project in Panglao, Bohol adjacent to the new international airport. It is the first Duros Land project in Boholandia and its second outside Cebu after the Gana Siargao Resort in Siargao Island.

Project Development Head Ian Mantuhac and Architect Lester Banzon both revealed that more projects are in the drawing board both inside and outside Cebu with the company’s considerable land bank.

Minore Hotel, another Duros Land project right in the heart of Cebu’s business district is also set to open in the second quarter while One Tectona Condominium in Liloan, Cebu will top-off in the third quarter, both of next year.

A busy year that was and an even busier year ahead for Duros Land Properties.

Housing Backlog in Cebu

A housing project in Linao, Minglanilla

While there is no official data on the actual statistics of housing backlog in Cebu, industry estimates run from between several hundred thousands to as many as a million units.

Reasons for the shortage:

1️⃣ Rapid Urbanization (within Cebu)
2️⃣ Population Growth
3️⃣ Local Migration (from outside Cebu)
4️⃣ Scarcity of Land

Real Estate developers are now scampering for whatever developable sites they can get their hands into in order to have a residential project to develop.

Even small parcels of land in inner city locations are now being utilized as pocket subdivisions or low rise condominiums.

A substantial number of upcoming projects are now being built on reclaimed spaces in Cebu and Mandaue cities.

Land prices in Metro Cebu have dramatically increased (doubled or more) in the last 5 years.

With a good number of local and national real estate developers currently doing business in Cebu, it remains to be seen if the housing backlog will be addressed soon or the disparity between demand and supply will continue to widen.