Developer invests P300M for low-end housing project

CEBU, Philippines - Sunberry Homes, Inc. is poised to build at least 2,000 affordable house and lot units starting this year to fill up the increasing supply shortage of economic and socialized housing in Metro Cebu.

An affiliate of Contempo Property Holdings Inc., the developer of Bamboo Bay Condominiums, Sunberry launched its maiden project yesterday located in Soong, Mactan Island.

In an interview with Sunberry Homes Inc., chief executive officer (CEO) Beverly Dayanan, she said that the company already invested P300 million for the maiden project, which provides a total of 400 house and lot units--socialized and economic segments combined.

"We are going to intensify our development in the low-end segment in the residential projects," said Dayanan, on the sideline during the formal launching of the 2.5 hectare Sunberry Homes Subdivision yesterday.

  Dayanan, whose expertise is deeply carved in the affordable segment in residential real estate sector, understood the growing clamor from the mainstream market for socialized and economic type of housing products.

 Now that its first project is 70 percent sold, Dayanan said the company is readying its next subdivision projects catering to the same market in the next few months. Full completion of the project is expected by the second quarter of 2016.

 Sunberry Homes Inc., acquired a five-hectare and a three-hectare properties located within the Metro Cebu area, both of which will be developed to provide at least a thousand and 500 house and lot units, respectively.

  The company offers as low as P450 thousand, house and lot package, loanable via Pag-Ibig Fund, (for socialized houses), and P1.2 million for economic houses, also can be funded through Pag-Ibig Fund.

Average size of the socialized unit is 28 square meters floor area, while economic housing unit provides total floor area of 50 square meters in a two-storey structure.

In Cebu alone, record shows there are least 200 thousand consumer based who are needing housing units priced between P100 thousand to P3 million.

Dayanan committed to build not only affordable mass housing units for buyers but also a decent and quality living environment.

"Our company is envisioned to create communities and nurture the lives of individuals and Filipinos families aspiring to live in an affordable and sustainable home," Dayanan concluded. (FREEMAN)