Piazza Elesia eyes market from villages, universities
Eyeing the huge untapped market in the Talamban area, a developer has foreseen the need to construct a commercial complex that caters to the daily and immediate needs of the residents and called it Piazza Elesia.
Serecio Mathew B. Jo, the president of Jo Brothers Development Realty Corporation and developer of the complex is a lawyer by profession. He decided to put up the Piazza Elesia and named it after his mother because according to him, “there is a demand to cater to the needs of the nearby big villages around the area and the universities as well.”
The whole Piazza Elesia measures 4, 200 square meters with a floor area of 2, 200 square meters as half of the entire property was utilized to create an ample parking space that can accommodate about 71 cars at one time.
Its construction was started last March 2006 and was completed in August after a year and seven months. Jo said that an initial amount of about P11 million has been invested for its construction.
The area according to Jo used to be a botching plant for cement by a construction company.
Piazza Elesia is a mixed use two-storey commercial complex which has 18 leasable spaces and about 12 have already started operation including Assimart, Rose Pharmacy, Caravan Coffee, Buns and Pizza, LBC, MLhuillier, Fresco, Hollywood Nails Beauty Salon and Spa, a meat shop, a laundry shop and a boutique.
It targets the B and C class segment of the market and a little of the A class as the area is surrounded by some of the town’s prominent subdivisions and schools.
Jo revealed that UCPB will also be putting up another regular branch and two new international call centers will also be occupying the second floor area next year which will both accommodate 150 seats.
He also added that the marketing efforts for the Piazza took them only about six months. “We did not expect this property to have a big potential as for just a span of six months the commercial space were already full,” said Jo.
Jo outlaid that a wine shop and a restaurant at the back portion of the property will be built next year along with a condominium unit.
He said that in terms of competition; they do not see an immediate competitor in the area as the nearest commercial establishment like theirs would be the Banilad Town Centre which is way too far. Jo stressed that the location of the Piazza is very much strategic that he is optimistic of its huge potential to hit.
“This area is the melting zone of Mandaue City and Cebu City and there is also a road that can lead straight to the old Mactan Bridge so it’s very accessible and in terms of captive market, there are seven big villages surrounding the area plus there are four schools as well including USC-Talamban, UV, UC and Sacred Heart,” said Jo.
“Piazza Elesia provides specialized and personalized service that caters to the basic demand of the market and when customers go here we will provide almost everything they may need plus there is ample space for parking so it will not be inconvenient for them,” Jo stressed.
Optimistic of the real estate industry of
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