CEBU, Philippines - Enjoying the robust growth and vibrant demand in the real estate industry, Fuente Triangle Realty Development Corp. (FTRDC) will start the construction of its fourth project in Osmeña Boulevard in addition to its existing and successful three residential condominium projects in the locality.
FTRDC was incorporated in 2006 as a subsidiary of J King & Sons Company, Inc.
Ben Turcuato, vice president for marketing and sales, said that although there is a paradigm in the market that owning a condominium is too luxurious, they notice that there is an existing demand for smaller condominium units at lower prices apart from the usual market preference of buying house and lots.
He described condominium living as economical since it is strategically located in a specific area, providing accessibility and proximity for the owners.
He said that the Ultima Prime or the Fuente Tower 4 is set to start its construction within the next two weeks.
As the fourth icon of the Fuente Tower pride, the Ultima Prime is a 27-storey high-end residential condominium that features 95-loft type units at seven units per floor.
The Fuente Tower 4 will be linked by a sky bridge to Tower 2 which is Club Ultima and to Tower 1 which is the Crown Regency Hotel, thus giving condo owners convenient and full access to the club facilities and hotel amenities.
The units come with various privileges such as free security, garbage collection, gym membership concierge services, and other conveniences.
Turcuato cited that such services are inclusive in the P1 500 monthly dues at City Loft, the company’s third condominium project.
Situated along General Maxilom Avenue, City Loft is a mid-rise 18-storey studio-type residential condominium with 393 finished units of which 90% are with balcony.
Condo owners could purchase one-bedroom unit with an area of 24 to 28.95 square meters at a reservation fee of P25,000.
It comes with a Club Ultima membership worth P500 000 with free seven room room night stay annually with its affiliated hotels and resorts worldwide.
A unit priced at P2.4 million could be paid at P7 500 per month through financing options from bank loans, in-house financing and Pag-ibig.
Pag-ibig has increased its loanable amount from 3 million to P6 million and lowered its monthly interest rates from 10 percent to 7.985 percent.
To date, Turcuato said that they have sold 34 percent of the units at City Loft.
He added that the construction of City Loft is expected to be finished by the end of this year and units will be turned over within the first two quarters of 2014.
FTRDC’s initial project is the Ultima Residences Tower 3 of the Fuente Towers. It is a twenty-seven floor building with 351 residential and 99 commercial units.
It is linked through sky bridge with Club Ultima, a leisure and health, fitness club with unique, modern state-of-the-art amenities.
As for its second residential condominium project, the Ultima Residences Ramos Tower at F. Ramos Street, Cebu City is a 33-storey of mixed-used condominium units and is currently 99% sold out.
FTRDC has also invested on the second station of Crown Regency Resort and Convention Center in Boracay Island.
It began in a four-hectare land property and is projected to expand close to 12 hectares. (FREEMAN)