Developer pushes forward with 700-Unit twin towers in Mactan

LAPU-LAPU CITY — A major developer in Cebu is moving ahead with a 700-unit twin-tower residential project in Punta Engaño, Mactan, citing the area’s booming tourism and demand for beachfront living.

In an interview with Ramon Carlo Yap, president, Priland Development Corporation, he said that the project, delayed earlier by the pandemic, is now back on track and already more than 70 percent sold and turnover is targeted in three and a half years.

Yap said they chose Punta Engaño because it will always be a destination for quality beach and for relaxation for both tourists and locals.  "All the developments are booming here, so that's why we want to be also part of this progress in Punta Engaño," he said.

The development consists of two towers with 700+ units in total. Officials clarified the project was not canceled, only delayed due to pandemic uncertainties.

"During that time, we decided to move the construction because it's not a very good time to start, because it's very unpredictable, and now... we still push through with the construction because we promised to deliver the project on time," Yap said.

He also confirmed that unit prices have not changed since the pre-selling stage.

This marks the developer’s 11th project, all currently residential. But the company is set to diversify. "We will be having commercial, hotel, offices soon," Yap announced.

He also revealed they have just ground broken their first mall in Consolacion, Cebu along with the company’s first hotel in the area. A future "high street" development is also in the planning stage.

"After this project, we will be back on track on our momentum, what we did before the pandemic," he added.   Despite global headwinds including the ongoing situation in the Middle East, yap remains bullish on Cebu and Philippine real estate.

"Despite the ongoing... challenges, we still see a very positive real estate industry in Cebu, and I think in the Philippines in general. We're not stopping. I'm sure we see it slowed down, but there's still a big demand," he said.

With Punta Engaño continuing to draw both local and international attention, the new twin towers are expected to add to the area’s growing portfolio of residential and leisure developments.