Crown Regency tops off third tower

CEBU, Philippines - After the success of its first two towers and with the popularity of one of its building as the tallest in Cebu, Crown Regency unveiled the third tower in a recent topping off ceremony.

Fuente Triangle Realty development Vice president for Sales and Marketing Jose Ma. H. Gianzon said that the ceremony marked an important segment in their plans to further cater to the growing support of Cebu for condominiums.

The Fuente Triangle Realty Development is the property development arm of Cebu-based J. King & Sons Co. Inc. and the sales and marketing force of the Ultima towers residences.

Gianzon said that they are very optimistic with the support that their third tower will be reaping since this early, a lot of the units have already been sold out and more have been making their reservations. Since their pre-selling in 2006, 87 percent in the 400 units have already been sold.

Boasting of world-class amenities and services with a first of a kind in Cebu loft type residential units, Gianzon said that they are aiming to finish and turn-over the whole project by December of 2010.

The tower 3 will have commercial units and a high-end shopping mall in the ground and second floor level of the building. The 3rd and 6th floor would be for the parking spaces and the 7th and 8th floors would have the office spaces. The 9th to 27th floors would have the residential units with an approximate area of 58 square meters to 103 square meters.

“We were not expecting success this early,” added Gianzon who said that Cebu has an advantage because in terms of the arrival of tourists where if not in Manila, tourists coming from other countries come straight to Cebu .

He said that this is one of the reasons also for the increase in clients who are investing on condominiums or condotels since foreigners most especially could not own properties in the country and they see it as a good investment.

Gianzon said that they have invested around P1.2 billion for the construction of the tower 3 alone which is a 27-storey building and now the second highest tower in Cebu after their first tower.

“As part of the four towers located in the integrated development, everything is already here. The tower III, as well as the rest of our towers is all best for home, business and leisure purposes.”

He explained that it would be a good opportunity also for businesses to have their own spaces through the offices that are also available aside from the residences.

Gianzon also said that they do not target a specific market in Cebu because with their world-class concept which is assured to be unique from any of the rest, they cater the whole world.

Aside from this, Gianzon said that he is also optimistic that with the help of the banks that have showed their interest in assisting potential customers of Crown Regency for loans, more would be able to avail of their units.

During the topping off ceremony, banks like BPI savings bank, Security Bank, Metrobank, Bank of Commerce and Chinabank assisted clients on their needs and inquiries for loans.

Aside from tower 3, Gianzon said that they will soon be starting off with their other projects soon. The start of the construction of the Ultima Prime, which is the tower 4 of the integrated environment would be started in the first quarter of 2010..Another project is the Crown Regency Resort and Convention Center in Boracay, which currently is already 36 percent sold.