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Asia Property Report

Daily, Bangkok
Up-to-date news and coverage of industry trends and innovations from Asia with an in-depth special focus on real estate hot spots, as well as key interviews with important industry figures.
 

Landtraders World Properties Corp targeting the mid-range market

Apr 26, 2012
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San Marino Residences


Landtraders World Properties Corp has set aside P1.5 billion (US$35.19 million) of capital expenditure to develop four residential projects for the mid-range market. The four projects will comprise of three condominiums and a townhouse.


Michelle Yu, chief executive officer claims the company will source funds from banks and in-house financing to build the 2,000 units.


Landtraders’ flagship project is San Marino Residences, a 420-unit, 20-storey residential condominium on J.de Veyra Avenue at the North Reclamation Area. The company invested P520 million (US$12.19 million) for the construction of the project, which will initially cater to the mid-range market with unit prices of P1.4 million (US$32,844) for units with 21-22 square meters of space according to Sun Star.


San Marino Residences targets local buyers, especially from the overseas Filipino market, young professionals and those from neighboring islands like Bohol and Leyte who wish to work, live or study in Cebu.


The company also has 89 townhouse units to be put up in Mactan and two condominium projects at Andres Abellana and the North Reclamation Area, which will have 600 units and 700 units.