PH1 World Developers, the newly-acquired real estate subsidiary of Megawide Construction Corporation, is launching two projects worth P3.5 billion this year as it diversifies into the horizontal residential space.
In a press briefing, PH1 World Developers President Gigi G. Alcantara said they have decided to go into the horizontal market to help in reducing the huge backlog for housing development.
While the firm has already launched P19.5 billion worth of high- and mid-rise residential developments in the past years, it is only this year that PH1 World Developers has launched its first horizontal project.
Being developed through the firm’s horizontal subsidiary Landscapes is the P1.7 billion Northscapes in San Jose Del Monte, Bulacan which will have a mix of single-attached and townhouse units.
PH1 World Landscapes General Manager Eric Gregor Tan said the project will have a total of 343 units built on a five-hectare property.
Its units will consist of the single-attached Elia, the townhouse end-unit Salana, and the middle unit townhouse called Alba. All unit types will have be two storeys high with three bedrooms each.
Priced from P6 million to P8 million per unit, Elia units will have lot area of 100 to 132 square meters (sqm) and a floor area of 70 sqm.
Salana units will cost P4 million to P7 million each and will also have a lot area of 100 to 132 sqm and a floor area of 70 sqm, while Alba units are priced at P2.8 million to P4 million with a lot area of 50 to 52 sqm and a floor area of 53 sqm.
For sustainability, all units in Northscapes will have solar panels with a capacity of 3.5 KV, said Tan adding that all streetlights and amenities will also be solar-powered.
Target market for the project are young families in Bulacan as well as Quezon City as it is near Quirino Avenue and will soon have an LRT-2 station about a kilometer away.
Tan said they will soon be launching a second similar project in Trece Martires, Cavite which will have about 330 units worth P1.8 billion. It will be also on a five-hectare lot but expandable to 30 hectares.
Both the Bulakan and Cavite projects will have a development cost of about P600 million each.
Meanwhile, Tan said they are currently negotiating with landowners for other properties in Luzon and Cebu to add to PH1 World Developers’ horizontal project pipeline.
These include the expansion area for the Trece Martires project as well as in Calumpit and Bulakan, both in Bulacan; General Trias, Cavite; Lipa, Batangas; and San Jose, Batangas.
“We are looking at a total of 200 hectares for our pipeline,” said Tan adding that, aside from Luzon, they are also looking at the Visayas, particularly in Cebu.
This will allow the firm to launch two horizontal projects every year for the next few years.
Meanwhile, PH1 World Developers Assistant Vice President Spike Ching said they are also planning to launch two more vertical projects next year located near LRT-2 stations in Quezon City and in Pasig City
has jumpstarted its entry into the residential property market with the launch of P19.25 billion worth of projects this year.
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The article was originally published in Manila Bulletin and written by James A. Loyola.
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