CORDOVA A LIKELY EXPANSION SITE
Expecting better access to Mactan due to the construction of a third bridge, Pueblo de Oro Development Corp. is considering Cordova town as an expansion site
A developer based in Cagayan de Oro sees huge opportunities for real estate investments in the town of Cordova, with the construction of the Cebu-Cordova Link Expressway.
Pueblo de Oro Development Corp. president and chief operations officer (COO) Prim Nolido said their housing projects currently in Lapu-Lapu City will experience even higher rise in property prices as a result of the new bridge.
Now, the developer is looking at Cordova as a potential ex- pansion site.
“Given its proximity to LapuLapu, yes we want to expand in Cordova,” said Nolido.
The developer has built three subdivision projects in Cebu consisting of 2,400 houses in Lapu-Lapu City, spanning 40 hectares altogether. These are La Aldea del Bueno, La Aldea del Rio, and the La Aldea del Mar.
Last March 18, the developer launched phase 4 of La Aldea del Mar, its last phase.
Since it launched the first phase of the subdivision in 2012, with units sold at P800,000, Nolido said today’s price grew to P1.2 million, or a growth rate of 50 percent in five years.
With the expected completion of the third bridge, the official said this will translate to even higher property price increases, as it makes Lapu-Lapu City more accessible.
The developer has already sold 1,400 homes to families of overseas Filipino workers and locals in Lapu-Lapu City.
Pueblo de Oro Development Corp. is the housing arm of the ICCP Group, which developed the Cebu Light Industrial Park (CLIP) in Lapu-Lapu City.
It brands itself as a “provincial developer” whose projects are concentrated in horizontal housing in Cebu, Laguna, Pampanga, and Batangas.
Pueblo de Oro is behind the 360-hectare master-planned Pueblo de Oro Township in Cagayan de Oro City where the Pueblo Golf and Country Club, SM Cagayan de Oro, and Xavier University are located. /