CEBU CITY–Property development started strong in 2023, buoyed by the global economic recovery.
Johndorf Ventures Corp (JVC) managing director Abigail Lim said the company has adopted a bullish stance this year on the heels of “outstanding” performance in 2022.
Leechiu Property Consultants, one of the Philippines’s most prominent real estate brokerage firms, foresees commercial real estate strengthening with live leasing requirements from 2022 being carried over into 2023. It reports an increase in demand for residential properties all over the country as capital values and rents continue on an upward trajectory.
JVC is a veteran of 36 years in the property development industry, with its stamp on almost 40 projects in the Visayas and Mindanao, mainly socialized, affordable, and mid-end residential developments. The company recently ventured into mixed-use estate development with new communities planned for launching in Cebu, Davao, and Cagayan de Oro Cities this year.
“JVC will grow significantly this year. We are looking to invest about P10 billion in current and new projects. We have a thoughtfully designed pipeline of projects for the next five years, allowing us to intensify participation in economic recovery,” Lim said in a statement.
JVC will soon open its first high-rise office building, Johndorf Tower, at the Cebu Business Park, a business hub in Cebu City.
The 21-storey building, pre-certified by the U.S. Green Building Council for Leadership in Energy and Environmental Design (LEED), will host business process outsourcing firms and other economic frontrunners.
JVC has a range of residential communities in progress in key Visayas and Mindanao areas.
In Cebu Province, 464 units at the Plumera Mactan Cebu were completed in 2022. Navona Lumbia in Cagayan de Oro City was completed recently. Land development of Tierra Nava Opol in Misamis Oriental starts this year. Astana Davao and Coral Village in Lapu-Lapu City, Cebu are due for completion within 2023.
Lim said JVC planned to expand its footprint across various markets, including the luxury residential segment, while sustaining its lead in socialized, affordable, and mid-end residential developments.
“We see huge interest in the residential-commercial estates that we are opening – an upscale residential condominium project in Cordova, Cebu, a mixed-use in Davao, and a sustainable modern township in Uptown CDO. All these properties offer high-value appreciation potential. They are very attractive investment products,” Lim explained.
JVC, she added, continues to plan for sustainability and livability by integrating specific customer needs and market trends in the project planning continuum.
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The article was originally published in Inquirer.NET.
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