Originally published by Business World. To read the original post, read HERE.
CATHAY LAND, INC. is allocating P1 billion to develop two new residential condominium projects in South Forbes Golf City, citing the robust demand for projects in the south of Metro Manila.
In a statement, Cathay Land said it will spend P1 billion for Stanford Suites 3 and Fullerton Suites, which are located within its 500-hectare township project.
“Industrial and residential activity is on the uptrend in the south, particularly in the Metro Sta. Rosa-Silang-Tagaytay area. This makes it an opportune time to launch two of our new low-rise condominium projects both for the investor and end-user communities,” Jeffrey T. Ng, president of Cathay Land, was quoted as saying.
Located near Westborough Town Center, Stanford Suites 3 targets young families, retirees, and investors. Westborough already has a Coffee Bean and Tea Leaf and Marketplace by Rustan’s as anchor tenants.
Fullerton Suites, located near the Chiang Kai Shek College which will open in school year 2020-2021, is hoping to attract young families, teachers, and businessmen.
It also situated near the Silang East interchange of the Cavite-Laguna Expressway (CALAX), which will be completed by 2020.
“Given that our completed condominium projects have significantly appreciated in value over the past few years and enjoy high lease rates among the local expatriate and education community, both projects will surely get a warm reception from the market,” Mr. Ng said.
Both Stanford Suites 3 and Fullerton Suites will have studio and one-bedroom units. Stanford Suites 3 will have 331 units, while the first tower of Fullerton Suites will have 280 units.
Cathay Land said the unit prices for the two condominiums will start at P1.5 million for a studio unit. Turnover is scheduled for 2021.
The property developer broke ground for Stanford Suites 3 and Fullerton Suites in August and September, respectively.
South Forbes Golf City can be found within the Metro Sta. Rosa-Tagaytay corridor. It currently houses Standford Suites 1 and 2, Scandia Suites 1 and 2, and the Golf View Terraces, as well as boutique communities, Bali Mansions, Nirwana Bali, Phuket Mansions, Racha Mansions, Tokyo Mansions, Chateaux de Paris, and Miami.
Cathay Land is also behind the country’s first designer outlet mall, Acienda Designer Outlet, in Silang, Cavite as well. — Vincent Mariel P. Galang