CEBU CITY — RLC Residences on Friday launched Mantawi Residences, its first premium residential condominium project here, as it bets on the growing appetite for upscale developments in Cebu province.
Mantawi Residences is a premium condominium development strategically located along Ouano Avenue, Mandaue City.
Sitting on a 20,328-square-meter (sq.m.) property, the project will have four towers with 40 floors each. The first tower will have 474 units, including four penthouse units.
Stephanie Anne C. Go, RLC Residences business development and design head, said units at Mantawi Residences offer spacious living spaces and built-in smart home devices.
The first tower of Mantawi Residences will have 310 one-bedroom units (46 sq.m.), 148 two-bedroom units (92 sq.m. and 115 sq.m.), and 12 three-bedroom units (138 sq.m.). There are four penthouse units (207 sq.m.) which will have three bedrooms, a dining area, kitchen, living room, study den, utility room, powder room and balconies.
Mantawi Residences also boasts of a 1.3-hectare amenity area, which will feature beach-inspired swimming pools, a cascading water wall, a pet park and an outdoor play area.
“The amenity area is one of the biggest, if not the biggest, across RLC projects. The beach-inspired swimming pool is something that we’re doing for the first time,” Ms. Go said in a press briefing here on Friday.
The property will also have a retail area on the ground floor of the first tower.
Prices of units at Mantawi Residences start at P15 million for a one-bedroom unit to P60 million for a penthouse suite.
John Richard B. Sotelo, senior vice-president and business unit general manager of RLC Residences, said the price points for Mantawi Residences is a “little higher” than the company’s other projects since it is a premium development.
“We are guided by what the market is telling us… and the market in Cebu is telling us that it’s ready. It’s not just the folks in Cebu who are ready and willing to pay, but also Filipinos who work abroad who are willing to make this investment as long as they can get their money’s worth,” he said during the same press briefing.
The prices have not appeared to have dented demand, as one of Mantawi Residences’ penthouse units was already sold to a Cebu businessman after it was unveiled in late March.
“Based on what we’re offering in terms of design, location, amenities and features, I think we kind of hit that ‘sweet spot’ of offering good value for what you’re paying for but still making it affordable for Cebu,” Mr. Sotelo said.
Mantawi Residences is located in a bustling area where the cities of Cebu and Mandaue meet. It is just 3.5 kilometers (km) to Cebu Business Park, 2.5 km to Robinsons Galleria Cebu and 5 km from the Cebu-Cordova Link Expressway.
“We know the project is investment-worthy since the location speaks for itself. It’s at the heart of the city. The government has a lot of gentrification programs for Mandaue City as well. The economic activities are all in the area,” Ms. Go said.
The Mandaue government reportedly plans to turn the Cebu International Port into a docking area for international cruise ships, as well as develop a Metro Cebu Expressway and Cebu Bus Transit. There are also plans to build a waterfront development with commercial spaces, and to rehabilitate the Mahiga River.
Mr. Sotelo said the company expects to break ground on Mantawi Residences around late third quarter or early fourth quarter.
“We anticipate turnover of the first tower by the fourth quarter of 2029. We expect residences to start moving in by December 2029,” he added.
Depending on demand, Mr. Sotelo said the second tower for Mantawi Residences may be launched within a year or a year and a half.
As part of its commitment to sustainability, Ms. Go said the company is planning to secure BERDE and EDGE certifications for Mantawi Residences.
Mantawi Residences is RLC Residences’ third project launch this year, after Le Pont Residences in Bridgetowne estate and the fourth tower of Sierra Valley Gardens in Cainta, Rizal.
In Cebu, RLC Residences’ projects include AmiSa Private Residences and Galleria Residences Cebu. — Cathy Rose A. Garcia
If you like this article, share it on social media by clicking any of the icons below.
Or in case you haven’t subscribed yet to our newsletter, please click SUBSCRIBE so you won’t miss the daily real estate news updates delivered right to your Inbox.
The article was originally published in Business World and written by Katrina Domingo.
About Post Author
More Stories
Real Estate 2024 and Beyond: A day of learning, innovation, and inspiration!
Lamudi Recognizes Top Developers, Launches New Platform at The Outlook 2024: Philippine Real Estate Awards
𝐋𝐄𝐀𝐑𝐍 𝐅𝐑𝐎𝐌 𝐎𝐔𝐑 𝐋𝐈𝐍𝐄𝐔𝐏 𝐎𝐅 𝐑𝐄𝐀𝐋 𝐄𝐒𝐓𝐀𝐓𝐄 𝐄𝐗𝐏𝐄𝐑𝐓𝐒!