148 Residences came just in time for school opening

CEBU, Philippines - The first batch of homeowners has prepared their respective condominium units at 148 Residences in downtown Cebu City in time for the school opening.

In fact, 30 of them have furnished their units with half of them, mostly college students from the provinces, have moved in and getting ready for school, disclosed Michelle D. Chiu, sales and marketing manager of the developer Johndorf Ventures Corp. (JVC).

With the entry of the first 15 occupants, JVC organized an in-house property management team that will not only handle 148 Residences but its other projects and those of its direct subsidiary, Prohomes Development, Inc.

“We are pleased to see 148 Residences now standing proud and prominently relevant to the community as it begins to house students, travelling professionals, expats, resident foreigners and tourists,” remarked Chiu.

Chiu revealed JVC has sold out 102 of the 148 units, or some 70 percent of the studio-type modular condominium spaces, as of the last week of May 2013. All the 148 units are now ready for occupancy, she added.

She disclosed that the company is offering a more attractive in-house financing program for the remaining 46 units with no need for a buyer to pay any down-payment, as they can proceed with paying their monthly amortization 30 days after closing the deal.

The buyer has the option to pay for the unit in five years at 12 percent interest per annum, or in 10 years with 15 percent annual interest that will spell about P24,000 a month, she added.

The remaining units may still be acquired through bank financing or through Pag-IBIG at an anchor price now of P1.3 million for a one-bedroom unit.

Launched in May 2012, it took JVC only six months to top off the erection of the 10-storey building located beside what is now historical Hotel de Mercedez on Pelaez St. near Colon.

JVC encourages buyers to acquire adjacent units for more space, turning them into 2-bedroom units. It also offers commercial units at the ground floor that can be set-up as coffee shops, convenience stores, and business offices.

The first ever condominium in downtown Cebu, 148 Residences is close to schools such as the University of San Carlos, University of San Jose Recoletos, University of Cebu and the University of Visayas.

The property is good for investors who may want to lease out their studios with the big demand now on rental for residential use, an option still consistent with the company slogan: “A home for everyone.”

JVC prides itself in building communities that provide convenience, quality, comfort, safety and affordability for every Filipino. (FREEMAN)