By Zinnia B. Dela Peña (The Philippine Star) Updated August 18, 2011
MANILA, Philippines - Robinsons Residences, the urban lifestyle brand of the Gokongweis’ property arm Robinsons Land Corp. (RLC), is building a 25-story modern Asian-inspired residential building in Lahug, Cebu to be called Azalea Place.
Azalea Place, RLC’s fourth residential project in Cebu City, will house a total of 407 studios, one- and two-bedroom units which will be ready for turnover to buyers by the second quarter of 2015. Construction of the project will start next year.
The studio units have a floor area of about 25 square meters and will sell for P2.03 million; to P2.52 million, P2.42 million to P3.76 million for the one-bedroom units ranging from 29.75 sqm. to 38.5 sqm; while the two-bedroom units will be sold for P3.63 million to P5.36 million with sizes ranging from 43.5 sqm to 56.75 sqm. RLC has affordable payment schemes that allow a buyer to acquire a studio unit for as low as P10,000 a month.
Azalea Place will have a commercial area at the ground floor to cater to residents as well as the surrounding community, four basement parking levels, a business center and library/Wi-Fi lounge, indoor game room, audio-visual room, function and conference rooms, gym, swimming pool, spa pool and a Japanese-inspired gazebo.
RLC’s decision to enter Cebu’s mid-market segment follows the success of its three other projects in Cebu – Robinsons Homes’ Aspen Heights, the first themed community in Cebu; subdivision lots in Blue Coast Residences, Mactan under Robinsons Communities; and AmiSa, the first leisure residential community in Mactan under the Robinsons Luxuria brand.
Frederick D. Go, president and chief operating officer of RLC, said the company’s increasing presence in Cebu reflects the “growth in the province and the region as well as the group’s bullishness on this promising segment.”
“Azalea Place is all about convenience for the market it caters to: start-up families who desire a centrally located home in the metro, close to work, school and recreational areas, investors seeking good returns from a large pool of potential renters; and parents who want to invest in prime property for their children’s future,” Go said.
He pointed out that “Azalea Place is the only residential condominium along bustling Gorordo Avenue, making it an ideal home for a market that wants everything within easy reach.”
Given its strategic location along one of Cebu’s major thoroughfares, Azalea Place has a strong potential for rental income for investors such as businessmen and overseas Filipino workers, as there will be no shortage of students, young professionals and urban Cebuano families looking for a comfortable home at a convenient location.
Since Cebu is also a leading business, cultural and social hub, the company also anticipates that there will be many prospects throughout the VisMin region and beyond who would want a home in the Queen City of the South.
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