To ease housing backlog developer to build 2,000 units in Cebu

CEBU, Philippines – Economic housing developer, Johndorf Ventures Corporation is building at least 2,000 more housing units within Metro Cebu to help ease the huge backlog of affordable housing within the metropolis.

JVC president and chief executive officer Richard D. Lim said that the company will build five to six more subdivision projects, mostly in Mactan Island within the next five years.

Lim said that while it is tempting to jump into the condominium bandwagon, the company opts to focus on its core competence of providing affordable house and lot package to the mainstream market.

The Mindanao-grown residential developer is allocating P2 billion capital expenditure for its massive expansion plan in Cebu in the next five years.

Lim however said that apart from the capitalization plan that’s already in place, he might also consider exploring the development of a walk-up condominium concept, but this plan has yet to be formalized.

To date, the company has already built over 2,000 housing units in Metro Cebu including the newly launched "Astana" subdivision in Mactan.

Astana is situated on a three-hectare property in Barangay Babag, Lapu-Lapu City near Hanniyah Homes, which is a recently completed project of JVC subsidiary Prohomes Development, Inc.

Lim said JVC has a total of 20 hectare land-bank in Cebu which will be used for upcoming projects of the company in the next five years.

Lim said that he is also interested to venture into residential community projects in Liloan, Compostela, and even in Carcar City.

The company will continue to bank on its expertise in building high-quality affordable house and lot packages with price range of P1.2 million to P1.5 million.

Nikki Lim, JVC Quality management system associate, said that the company is serious on its thrust to minimize the huge 3.9 million housing backlog in the country, which is expected to reach to seven million in 2030.

The younger Lim said that JVC is also zooming in its focus on improving its product and service qualities without compromising the pricing points.