Homegrown developers
At one point I thought that real estate development in Cebu would be dominated by Manila-based players as they were not only aggressive, many of them also had the money to drop. The nature of real estate development back in the 60s and all the way to the late 70s was that, Cebu’s old rich were the only ones taking such initiative being of course, holders of vast tract of properties. The Osmeñas, the Gochans, the Pacañas are some of the family names that come to mind when it comes to development of “villages” and when living therein used to mean economic affluence.
Then came Manny Villar in the late 80s who introduced village living with a house and lot package at affordable prices under the Camella brand. This was followed by several other giant players from Manila like Sta. Lucia, Filinvest and Ayala, Robinsons which were reckoned to be titans in the industry. And just as we thought that they all got it made to lead the market for a very long time, there were a few who went head-to-head and toe-to-toe with these giants. And it’s good to see local developers carving their name in Cebu’s real estate industry and even besting the best and biggest names in vertical and horizontal development in the country.
We owe it also to the late Richard King for believing in and taking the cudgels that Cebu can equally or even do better when it comes to vertical projects. Club Ultima, his flagship condo, is symbolic of that belief. Primary Homes is another feather on Cebu’s real estate cap. Its experience and good name in the construction business have easily earned the trust of the conservative and hard-to-please Cebuano markets. “Reliable” is the hallmark of Primary Homes’ reputation to deliver on time.
The sensational rise of Cebu Landmasters Inc is one beautiful story to tell if you talk about their success in real estate. When “know-it-all” marketing teams usually have a big say when it comes to what projects to build and what moves to make, Cebu Landmasters treads a different path -- choosing to be in touch with their sellers if they have a project in mind. They believe that their sellers or their agents, being at the frontlines, have a better reading of the market thus, it is better to consult with the sellers first and get to know what they have to say over a proposed development. No wonder, Cebu Landmasters is one brand that’s known for being seller and buyer-friendly not to mention quality and affordability.
Another game-changer in the face of real estate in Cebu is AppleOne Properties. The first-gated condominium community in Cebu, AppleOne Banawa Heights, happens to be also the only Victorian and Bay Area-inspired development in the country bringing fresh ideas in condominium living and development. The success of AppleOne being the fastest moving condo around can be attributed not only for its concept and design, but also to its generous incentives to sellers which is unparalleled to date.
Contempo Properties, the developer of Bamboo Bay, brings a sombre and invigorating zen-inspired community in one of Mandaue’s premier residential cum commercial districts on Hernan Cortes. Its down-to-earth president and CEO, Beverly Dayanan, still has time assists clients and agents whenever she is at the showroom.
More than anything else, Cebuano developers never cease to look for ways to be different not only in terms of project concept but also in terms of accountability. Although there are a few local developers I know who cannot keep their schedules (including those big names that are not from Cebu), Cebuano developers have always been consistent and conscious when it comes to their deliverables and timelines.
One thing that also stands out with and one of the success contributors to our homegrown developers is their flexibility and to personally deal clients problems along the way. Unlike dealing with Manila-based developers which takes forever to decide over client problems and to process documents as everything had to be decided in Manila, local developers can troubleshoot and resolve issues sans the long wait.
- Latest
