Developer to construct 1st condo project in Cebu City
MANILA-BASED Primeworld Land Holdings Inc. is developing its first condominium project in Cebu City, where demand for vertical housing continues to rise.
The developer is investing about “half a billion” to build Primeworld Pointe, a 22-story condo that is set to rise on First St. in Barangay Apas, just a few minutes walk away from the Cebu IT Park.
The 1,000-square-meter development will have a total of 374 units, with 22 units per floor, and 72 parking lots.
“We expect construction to start by March once the necessary documents are obtained,” Primeworld president Nelba Pangilinan told SunStar Cebu on Saturday, Feb. 15, 2020, in an interview at the groundbreaking of the project.
The firm will turn over the units in 2023.One-bedroom units are priced between P2.4 million and P3.1 million while two-bedroom units are priced at P4 million.
The project will also come with amenities, such as pool, gym and function areas.
Pangilinan said that Primeworld is likely to launch two more condo projects in Cebu City — in Fuente Osmeña and Banilad areas.