Federal Land earmarks P2B for condo project’s 5th tower

CEBU, Philippines — Federal Land Inc. is capitalizing on Cebu's thriving condominium market by investing at least P2 billion in the construction of its fifth tower at Marco Polo Residences, which will feature a total of 168 luxury residential units.

Federal Land, the development arm of GT Holdings Inc., the company behind the Metrobank Group, will gradually transform the 5.8-hectare property in Nivel Hills, in Lahug into a master-planned integrated community, joining its roster of Federal Land Communities (FLC) around the country.

Formerly the Cebu Plaza Hotel property, Federal Land overtook the development of the estate in 2006 to introduce the first international hotel chain, and the only five-star city hotel in Cebu – the Marco Polo Plaza Cebu.

Today,  the property is home to a community of residential dwellers with the success of the Marco Polo Residences’ four towers, which are now nearly 100 percent sold.

The company entered Cebu’s high-rise residential market four years later in 2010.

In a press conference, Federal Land Inc. sales group head Maria Margarita Resurreccion said the company has been bullish about Cebu, saying “We are always optimistic about Cebu’s future.”

The 20-story Marco Polo Parkplace, is the final installment of Federal Land’s vertical village development in Cebu. But, this is just one of the projects lined up to take advantage of the dynamic Cebu’s dynamic property market, added Ressurreccion.

She explained that the impressive success of its four towers reflects the strengthening demand for upscale condominium living in Cebu.

The company aims to complete Marco Polo Parkplace by 2027, with residential units priced between P12 million and P30 million, depending on the unit size.

Federal Land estate development senior manager Romeo Pascual said the company is looking forward to replicating its townships developments, or FLC projects in Metro Manila to Cebu.

“It is Cebu’s turn to experience this master-planned, multi-use developments,” Pascual said.

For over 52 years, Federal Land has been a steadfast presence in the Philippine real estate landscape, leaving an indelible mark on cities across the country and consistently elevating urban living standards.

One of the project’s strong magnets is the hotel-like amenities, coupled with the prestige of a global brand, which has made Marco Polo Residences one of Cebu's most sought-after properties.

With more than 3,000 sqm of dedicated park, the amenity deck features a wide array of leisure amenities designed to blend wellness with natural beauty.

A total of 48 curated amenities present residents with scenic views of the sky, sea, and mountains, encouraging them to find balance and enrich their lives amid stunning natural landscapes.

Marco Polo Parkplace offers a unique living experience with its low-density design, providing residents with greater privacy and exclusivity. Each unit features breathtaking views, while the thoughtfully designed spaces enhance the overall living experience. Additionally, the common areas are thoughtfully designed to be pandemic-resilient, ensuring safety and comfort.

The podium villas are situated on the tower's lower residential levels. From the second to eighth floors, with a variety of one- and two-bedroom units. Moving up to the ninth to 15th floors, the options expand to include exclusive duo suite units alongside one- and two-bedroom units. The upper floors, spanning the 16th to 19th levels, offer a selection of one-, two-, and three-bedroom units. — (FREEMAN)