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Robinsons Land to construct 25-storey condo in Cebu City

Posted on October 19, 2011 09:43:41 PM [ BusinessWorld Online ]

ROBINSONS LAND Corp. is aiming to build its first midrise condominium in Cebu City next year, completing the presence of the firm’s four brand segments in the province.

The 25-storey Azalea Place by Robinsons Residences in Cebu City will strengthen the developer’s presence in Cebu province, where the company’s founders, the Gokongweis, are originally based, said Roseann C. Villegas, Robinsons Land corporate public relations manager, in a telephone interview yesterday.

This comes on top of earlier developments elsewhere in the province such as AmiSa, Aspen Heights, and Blue Coast Residences, which cater to different segments under various brands.

“The market is booming and very much receptive and dynamic. We see a lot of potential in the Cebu market, given the high rate of tourist arrivals, as well as numbers from the local market,” Ms. Villegas said.

Located across the University of the Philippines Cebu College, and in between the Asiatown IT and Cebu Business Parks, Azalea Place is seen to attract young urban professionals and starting families, the press statement said.

Robinsons Land is currently offering studio, one-bedroom, and two-bedroom units, priced at around P2 to P5.5 million each, Ms. Villegas said.

“Response from pre-selling is very positive. Cebuanos are embracing the condominium lifestyle nowadays, and we will further see this in Azalea Place,” she added.

But she declined to disclose how much the developer was putting to build the new residential development.

Shares of Robinsons Land closed unchanged at P12 apiece yesterday. -- Franz Jonathan G. de la Fuente
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