Pristina North enjoys upbeat market response

CEBU, Philippines – Even before its formal launching, the AboitizLand Inc.'s Pristina North Residences project already received strong interest from the market.

Pristina North Residences located in Bacayan, Talamban, an expansion project of AboitizLand that will cost around P350 million, was pursued amid the strong demand for chic town house units in Cebu.

AboitizLand Inc. vice president for marketing and sales Manuel U. Arbues II said the company is taking advantage of Cebu's upbeat real estate industry.

The project, which will only have a limited number of 50 Filipino-Asian contemporary themed town-house units, has already gained the interest of the market in fact interested buyers are now signing up for reservations.

"The economy especially in Cebu is better now. People have more money. There is a strong demand for middle-range to high-end residential developments," said Arbues

The one-hectare Pristina North Residences will be officially launched this coming November 20, and the company will immediately open up the properties for pre-selling.

These high-end townhouses, which will have lot cuts measuring 191 square meters, will be pegged at P8 million to as high as over P10 million.

Pristina North was first launched by the company in 2003 as its first upscale venture in 15 years, after it developed the North Town Homes and the North Town Residences, which are also located in barangay Talamban, this City.

Pristina North is an integrated development project, which will offer a commercial and office district amid a residential environment.

The Pristina North Residences is part of the 32-hectare upscale subdivision project of AboitizLand in the northern part of Cebu.

At present, Arbues said the company is negotiating deals with potential locators in its commercial space that is part of the amenities provided for the residents, aside from the basic facilities like swimming pool, and club house, among others.

The company provides about 2,000 square-meter area for the commercial component of the subdivision, Arbues said.

The company slates a time frame of 10 months to complete the construction of the housing units. (FREEMAN)