Gaisano group pours P1.5B for new condo

CEBU, Philippines - To address the influx of local and foreign tourists in Mactan, the residential property development arm of the Gaisano Grand Group of Companies recently launched its latest resort condominium project in Lapu-Lapu City. The company is pouring an investment of P1.5 billion for the entire project.

Grand Land Inc. introduced the Amani Grand Resort Residences, its second project in Mactan and second condominium development in the province.

Grand Land Inc. president Ryan Bernard Go said that they saw the need to develop more properties in Lapu-Lapu City considering the upcoming expansion project of the Mactan Cebu International Airport.

He also said that they plan to capitalize on the influx of foreign investors such as Japanese and Korean nationals who are eyeing the area for its world-renowned luxury resort hotels and other tourist attractions.

He added that the island is also known as an established economic and industrial zone as it houses investors from the Mactan Export Processing Zones.

Amani Grand Resort Residences is a low-rise, low-density resort condominium community nestled in a 2.2-hectare property in Matumbo-Pusok Road, Pusok, Lapu-Lapu City.

Amani is derived from the Arabic word that means wishes. It also means peace and love in Swahili. The modern Asian-themed development with a resort ambience will house close to a thousand units and a total of six buildings including the commercial development. Each building will have six storeys with each floor housing 30 units.

Units that come in studio, single-bedroom, two-bedroom or a combined three-bedroom types will be priced at an average of P1.6 million with less than 200 square meters in capacity area.

Its amenities include a lap pool, gazebo, wading pool, viewing deck, lagoon, jogging trail, playground, and a basketball court.

Go said that they aim to cater to the residential needs of the middle-income market particularly the overseas Filipino workers, yuppies, startup families, and foreign tourists.

The construction for Amani Grand Resort Residences will start within this year. The first residential building is set to be completed by the end of 2015.

Go also said that the project will also provide retail spaces possibly for convenience stores, service offices, and restaurants. The commercial development will be launched after the construction of the third residential tower. (FREEMAN)