Commonwealth Estate launches Acacia Place

Real estate developer Commonwealth Estate Inc. (CEI) recently introduced its newest residential project Acacia Place, located inside Sacred Heart Village in Banawa, this City.

This project, which followed immediately after the company launched the middle-end subdivision project in Mactan Island, pocket-size development Brookfield last year, which only offers limited 30 units.

CEI, the developer of Cebu's famous middle end subdivision Villa del Rio 1 and 2, has now entered the fertile upscale residential market in Cebu.

"This is our entry to the high-end residential market, a market which we think is growing in a modest pace," said CEI president Steve Liu.

The real estate industry has experienced severe challenges immediately after the 1997 regional crisis.

CEI and its partner, Primary Structures are also offering its buyers various financing packages that can match their sensitive points in terms of interest rate and amortization value.

According to Liu, buyers of their property are further assured that they could benefit from their investment in a shorter span of time.

Compared to other property developers, CEI and Primary Structures have a faster turn over rate of the house and lot to its owners from the time that they start investing on the property, Liu added.

This is based on CEI's commitment of valuing the trust the company's clients by not wasting any time in starting and finishing the development right on schedule.

The firm's track record as a respected and trusted real estate developer is manifested in their previous successful projects such as Villa del Rio - Mactan, Brookfield Subdivision - Mactan, East Aurora Tower in Mabolo and North Singson Flats in Guadalupe. Their other landmark projects include Beverly Glen, Cebu City Sports, East Aurora, Globe Telecom Building, and Waterfront Hotel.

This newly developed property has also been conceptualized to deliver an elegant comfort with high sense of security, exclusivity and prestige. The houses have been designed to create a relaxing environment aside from its strategic location, wherein it is a short distance from the metro's commercial and prime business districts.

Real estate developers in Cebu have started to build subdivisions that are targeted to the high-end market, while some have continued to cater the huge low to middle end client segment.

Recently, Ayala's Cebu Holdings Inc. (CHI) introduced its hundred million pesos worth of residential project "by the sea" called Amara.

CHI executives said there is a fertile market demanding for upscale residential products in Cebu. - Ehda M. Dago-oc