Multi-billion condo project to rise at old Tambuli resort

CEBU, Philippines - Cutting against the grain, a homegrown developing firm has chosen a beachfront as the spot of its multibillion-peso pilot residential resort development in Cebu.

While most developers pick the city center as location for their condominium projects, Tytans Properties and Development, Inc. chose the site of the now defunct Tambuli Beach Resort in Barangay Buyong, Lapu-Lapu City to host what would be called Tambuli Seaside Living, Cebu’s first solely residential resort project.

Top executives said the move to convert Tambuli into a residential resort development took inspiration from their confidence that there are now more opportunities for growth in the real estate sector as more and more players struggle to find their niche in the equally vibrant tourism industry.

The 110,000-square meter sprawling development will rise at the old Tambuli West resort and the present site of Cebu Beach Club.

As construction progresses, the beach club will be eventually closed to customers, officials said.

The Tambuli Beach Resort is considered the mother of all beach resorts in Mactan Island, operating for over three decades before shutting down operations after the management did not renew the 25-year contract with the property’s owners.

Tytans Properties president Gerard Tan said at yesterday’s groundbreaking rites that while a lot of condo projects are sprouting in the metropolis, not one project in Cebu has been done that will alternatively serve as a vacation destination for unit owners and tenants.

Modern tropical

“The development will sit on an 11-hectare property boasting of a ready 200-meter natural beachfront with fine, powdery white sand, while residents can enjoy the exclusive use of the four-hectare amenity area,” Tan said.

Architect Alex Medalla described Tambuli Seaside as modern tropical, with wide open spaces allowing for breezy comings and goings. The development, he said, takes its architectural cues from the natural environment.

Medalla said the property owners wanted the original landscape of the area to be preserved.

As a way of giving credit to the owners, Medalla said they will not be cutting down the good trees — huge acacia and banyan trees, among others — which form part of the whole of Tambuli’s original ecology.

Medalla also said construction of the development’s first phase has already begun.

The first phase includes two mid-rise towers consisting of 10 storeys and each housing 144 units expected to be turned over by fourth quarter of 2016.

The studio units will take up about 35 to 38 square meters while one-bedroom units will occupy a space of 46 to 63 square meters. Parking slots will also be made available.

Amenities will include modern Asian clubhouse spanning 5,000 square meters to house gym, café, huge deck by the sea, game room, ball room, convention center and a lagoon pool that is roughly 4,000 square meters in breadth.

There will also be a resort spa, fine dining restaurants, dry sports facility and additional features such as golf carts and mini waterfalls.

Iconic name

Meanwhile, business magnate Montano Ty, chairman of Tytans Properties, said they did not want to erase the word “Tambuli” as it has since become an iconic name among Cebuanos after years of operating as one of Cebu’s pioneering beach destinations.

Ty also shared that they have already kicked off the pre-selling activities and were surprised of the optimistic reception from the market.

He said they have already started selling the units in Manila and are currently eyeing the Visayas and Mindanao as their next target market.

Both Tan and Ty believe proper market positioning is crucial to the success of the venture, saying that it won’t be challenging on their part to market the idea of a resort confined within residential living.

However, they did not reveal the exact amount of investment earmarked for this specific development. (FREEMAN)