Johndorf earmarks P850M for three projects this year

CEBU, Philippines -  Johndorf Ventures Corp. (JVC) is pouring P850 million worth of investments on three more projects this year, including one residential development in Davao, to fill the demand for bigger units and lot cuts.

This was shared by JVC sales and marketing manager Michele Chiu adding that this year's capital outlay is higher than the P800-million investment that was earmarked last year.

She said that Johndorf aims to intensify its pipeline in the year of the wooden horse particularly focusing on economic housing development and townhouse projects with prices of units ranging from at least P1.25 million to a maximum of P1.5 million.

She added that their projects will have big lots that will house bigger units designed for first-time homeowners as its main target market.

By next month, JVC will launch Astana, a three-hectare subdivision project located in Barangay Babag, Lapu-Lapu City near Hanniyah Homes, a recently completed project of JVC subsidiary,Prohomes Development, Inc.

Chiu said the master-planned residential community will have a total of 413 reasonably-priced townhouses. The company is allocating an investment of P300 million for the said project.

Believed to create a "new wave in Asian living", Astana is named akin to the new capital of Kazakhstan, a west Asian nation that has been progressive since after it gained independence from the former Soviet Union in the 1990s.

Chiu said that after the launching, they will venture into a commercial development right at the entrance of the subdivision project. It will be composed of two buildings to serve homeowners of both Astana and Hanniyah Homes.

Meanwhile, following the success of Portville Mactan, JVC is further eyeing to launch a first project outside Cebu on the second quarter of this year.

Portville Davao will house a total of 376 units in a three-hectare property development near the city's airport.

Chiu noted that they are confident of such venture since they will be tapping a still large chunk of the market.

While most developers are concentrated on the southern part in the city, she said that there is big chance for growth in a highly industrial place like Davao.

"There is still so much land in Davao," she said.

Chiu also revealed that they are planning to introduce another project in Carcar, Cebu by the last quarter of this year.

Although it does not a have a name yet, the project will be nestled on a five-hectare property that will accommodate 300 units with lot cuts approximately at 100 square meters.

She said that apart from residential projects, they still have adequate land bank in metro Cebu intended for commercial developments.

For 25 years in the real estate industry, JVC has been identified for its heritage and credibility in the development of condominiums, townhouses and house and lots. It has ten projects to date in Cebu.

JVC is completing two subdivisions also in Mactan-Portville Mactan in the northern end of the island, and Hanniyah Homes under Prohomes, located adjacent to Astana.  (FREEMAN)