Majestic Legacy breaks ground on Azon project

CEBU, Philippines - Taking advantage of the booming tourism industry and dynamic aviation sector, a young and local developer ventures into its second vertical development and launched its first project for the year 2013.

Majestic Legacy Home Development Corporation recently held its groundbreaking for Azon, an Asian-inspired and Zen minimalist-themed condominium project situated at a 1500-square meter property at ML Quezon National Highway, Pusok, Lapu-Lapu City.

Sales and Marketing Officer Atria Embradura said in an interview that with the influx of tourist arrivals in the locality, there is a huge demand of residential units for top executives, airport officers and travel agents who work in the vicinity.

Majestic Legacy, she added, saw the need for accessibility and proximity of a strategically-located residential area to the airport for the targeted market, thus conceptualizing the Azon project.

She also expressed optimism with the ongoing airport bid among large conglomerates and business groups on the proposed expansion of the Mactan-Cebu International Airport Authority Terminal (MCIA-T2.

The PPP project will involve the construction of a new world-class passenger terminal building with capacity of eight million passengers annually and also include the operation and maintenance of the old and new facilities.

If the projected timetable could be followed, it is probable that the PPP private sector partner can break ground in 2014 for a possible terminal opening in 2016.

The 11-storey condominium building covers a total of 180 units with 10 units per floor. The ground level serves as a parking area for the residents.

The units range from 30.24 to 39.52 square meters and are priced at P1.8 and P2.3 million.

Amenities include a lap pool, commercial spaces, main lobby, car park with storage area, viewing deck, elevator units and 100% back-up power.

The construction period for Azon will start on April of this year and is expected to be finished by April 2015.

The pre-selling period of the units began last January 30 and the company is bullish to reach its targeted sold-out period on the first quarter of 2014.

Turn-over of units will happen on the second quarter of 2015.

Bullish with the real estate growth, Embradura revealed that the two-year old company aims to launch up to four vertical projects this year in Cebu City.

While serving its own buyers’ niche, she admitted that Majestic Legacy plans to venture into the horizontal development after fully studying the market.

Lot8, its flagship project, is a 16-storey condominium project located at P. Almendras Extension, Kasambagan, Cebu City.

It has a total of 242 units and is currently 90% sold out.

It is anticipated to be completed on June 2013 and will be delivered on the second quarter of this year.  (FREEMAN)