GoldPeach tops off One Pavilion Place

CEBU, Philippines - GoldPeach Properties, the property development arm of retail chain Gaisano Capital Group,  conducted yesterday the topping off of its pioneering flagship project,  One Pavilion Place.

Nilo Miranda II, vice president for operations, said in an interview,  that although there is fear of a real estate bubble among developers, there are still more market opportunities that local players can capitalize on. 

He added that on the part of GoldPeach, the company is planning to penetrate other markets  apart from Cebuanos, and to continue creating residential communities different from the rest.

“If there will come a time that the bubble will pop, we have alleviated our fear by building a community within a community. As long as there are businesses and investments coming in, there is always that need for residential spaces,” he stated.

The One Pavilion Place is an integrated mall and condo development situated at R. Duterte St. in Banawa.

It is a 28-storey residential tower with the first two floors as the One Pavilion Mall that features dining, shopping, and entertainment establishments. 

The project started its construction on June of last year and is targeted to be completed in the last quarter of 2014. 

Miranda said that the topping off  symbolizes the strong commitment of the developer to stick to the deadline it promised to buyers.

“We are nine months ahead of schedule and currently, we are on track,” he continued. 

He  noted that the company has sold about 90% of the total 552 units for both towers of One Pavilion. 

The condominium units, varying from 37 to 168 square meters, have a price range of  P4 to P5 million.

Its amenities include multi-level parking areas, naturally-ventilated rooms, grand lobby and reception area, fitness gym, swimming pools, multi-purpose hall, children’s purpose hall and landscaped areas. 

Miranda also cited that with the middle-income class as its target market, Overseas Filipino Workers and balikbayans accounted majority of the market share of the project for investment purposes while locals contributed 20%.

Meanwhile, GoldPeach Properties President Edmund Gaisano Jr. said that the retail chain envisions to have the mall in the building itself as the anchor of all its condominium and development projects.

The Gaisano Capital Group has established its name in the retail industry with the development of its own supermarkets for the past three decades.

He further described the One Pavilion Place as an all-in-one residential place that banks on affordability, convenience and affordability in the heart of the city. 

Gaisano added that the public could expect further mixed-used developments from GoldPeach Properties within the Philippines in the years to come. 

The two-year old developer also recently introduced its second project named City Soho, a unique concept of home-office project geared towards a market mix of young professionals, small business owners, and start-up entrepreneurs. (FREEMAN)