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8990 Holdings launches P2-B Cebu mid-rise project.

By James A. Loyola

Top mass housing developer 8990 Holdings, Inc. has launched its second mid-rise condominium project in Barangay Tisa, Cebu City which has a total value of approximately P2 billion.

In a statement, the firm said its first project in Tisa has already been sold out. 8990 Holdings will spend around P800 million until 2021 for the development of Urban Deca Homes Tisa 2.

The Company has been developing in high growth areas across Visayas and Mindanao with 45 completed projects since 2003. There are currently six ongoing projects in Visayas and while two projects are ongoing in Mindanao.

"Urban Deca Homes Tisa 1 was well-received by the market due to its affordability combined with a great view of the mountains on one side while overlooking Cebu City and the sea on the other side," said 8990 Holdings President and CEO Willie J. Uy.

Since demand continues to be strong, Uy said they have decided to launch Urban Deca Homes Tisa 2 which will continue to cater to young, working professionals and parents as well as college students from neighboring provinces who work or study in Cebu City.

Urban Deca Homes Tisa 2 will have 21 four-story buildings served by elevators. Each building will have an average of 70 units or a total of 1,392 units for the entire project.

Buyers have the option of choosing studio-type units with a floor area of about 26.8 square meters, selling for an average of P1.17 million per unit, or two-bedroom units of about 36.5 square meter with an average price of P1.58 million each.

Uy said the company expects to generate P477 million from the sale of 408 studio units and P1.56 billion from the sale of 984 two-bedroom units. Construction has already started last November 15, 2017.

Aside from its impressive view and affordability, Uy said what makes Urban Deca Homes Tisa 2 appealing to its target market is its close proximity to the Tisa Public Market, Tisa High School, Our Lady of Lourdes Parish, Chong Hua Hospital, Cebu City Hall and Basilica Del Sto. Nino.

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Title Annotation:Business News
Publication:Manila Bulletin
Geographic Code:9PHIL
Date:Jan 19, 2018
Words:355
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