Saturday, October 25, 2008 [ sunstar.com.ph ]
SINCE its medium-rise project called One Oasis was introduced early this month, property developer Filinvest Land Inc. has already received about P84 million worth of reservations.
Lawyer Jeffrey Badilles, Filinvest area sales head for the Visayas, said these reservations were made in just four days after One Oasis was presented to potential buyers on Oct. 3.
Most of them are young professionals, starting families, families of overseas Filipino workers, and parents of college students who wish to invest on a unit rather than rent rooms or apartments.
“The market response is so overwhelming that it made me wonder if there is really a global financial crisis. Cebu City seems to be more isolated from this phenomenon,” he said.
One Oasis is a P1.4-billion investment of Filinvest which will feature nine buildings on a 3.7-hectare property in Mabolo, Cebu City.
These buildings will offer a studio unit (22 square meters) at P1.2 million, one-bedroom unit (35 square meters) at P2.3 million, and two-bedroom units at P2.4 million (38 square meters) and P2.7 million (40 square meters).
The prices, though, will possibly go up due to market forces like the price increases in construction materials, said Badilles.
Affordable
“Buyers are interested to buy these units not only because of their affordable prices that are the cheapest (among) most condominiums in the city, but also because of their accessibility. This is a very unique product and the first of its kind in Cebu City among established developers,” Badilles said.
Filinvest, which is now in the stage of pre-selling the units, will start constructing the building that is most accessible from the main entrance. It has 130 units, the biggest number compared to the rest, which will have only from 90 to 120 units.
“We are completing all our permits with the government before we will start the development. It is scheduled for ground-breaking by December. We are targeting February and March next year as the start of the construction so that by February 2010, we can already turn over the units of the ... building to their owners,” Badilles said.
Amenities at One Oasis will include a multipurpose clubhouse, separate pools for adults and children, an elevator for each building, basketball court, children’s play area, and jogging or walking paths.
One Oasis is one of the P10 billion worth of projects that Filinvest will be putting up in Cebu.
The developer continues to look for potential sites for property development in southern Cebu like Talisay City. (NRC)
