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[ Cebu ] Prime Homes eyes 4 areas as additional project sites

Tuesday, February 2, 2010 [ ]

By Katlene O. Cacho

A NEW player in the housing industry plans to invest in more developments this year, particularly low-cost and socialized projects.

“The housing industry is growing. A lot of Filipinos need homes,” said Rey Aguilar, general manager of Prime Homes Development Corp.

Prime Homes is the developer of Henaville subdivision, a 2.9-hectare development in four phases in Compostela town. The developer hopes to complete 286 housing units next year.

“We already finished 72 units last year but we still have 136 units to be developed this year and 78 more units by 2011,” Aguilar said.

Of the 136 housing units targeted this year, 72 will be completed by April and the rest by December.

Aguilar said most of the buyers are overseas Filipino workers and professionals who want to maintain a permanent residence outside the city.

Henaville has two house models: a townhouse with a lot area of 50 square meters and a duplex with a lot area of 100 square meters. The bare unit of a townhouse is priced at P1 million while the finished unit is P1.3 million. The duplex model house is priced at P1.4 million.

Amenities of the subdivision include a commercial area, playground, basketball court and multi-purpose hall.

Aside from the completion of Henaville, Aguilar said they also want to put up more residential projects in Liloan and Compostela in the north, and Minglanilla and Naga in the south.

“The competition in the housing industry is quite good. Though we are still new in the industry, the quality of our units, as well as the location of our projects have helped us compete with the big players in the industry,” he added.

Aside from low-cost housing, Prime Homes also plans to put up a 14-story condominium near the Cebu Business Park next year. Aguilar said this development will cater to a wider market and they plan to sell each unit starting at P1.2 million.

“In the coming years, the company will also venture into high-end residential units,” he said.

Published in the Sun.Star Cebu newspaper on February 03, 2010.


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