DEVELOPER TO RESUME BUILDING HORIZONTAL HOUSING PROJECTS
Huge demand for affordable housing pushes Gaisano-led firm to revist strategies moving forward. Taft Property is eyeing locations anywhere in the country for future economic housing projects.
The developer of Horizons 101, Cebu’s tallest tower, will go back to building horizontal housing projects. Jack Gaisano, chairman and president of Taft Property Venture Development Corp. (TPVDC), said the company will refocus since it has exhausted the development of a number of vertical developments. Aside from Horizons 101 on General Maxilom Ave. in Cebu City, TPVDC it’s also building Taft East Gate on Cardinal Rosales Ave.; Mandani Bay, a mix-used joint venture with HongKong Land in Mandaue City; Soltana Nature Residences in Lapu-Lapu City; and Symfoni condominium projects in Cebu City and Quezon City. Gaisano noted the demand for “affordable” housing.
The developer of Cebu’s highest tower Horizons 101 will resume to building more horizontal housing projects moving forward.
Jack Gaisano, chairman and president of Taft Property Venture Development Corp. (TPVDC), said the company will refocus to build more horizontal “economic housing” projects since the company has already exhausted the development of a number of vertical developments in the past years.
Currently, TPVDC has current and ongoing developments on vertical projects like the Horizons 101 along General Maxilom Avenue in Cebu City where it launched last week the amenity area of Tower 2; Taft East Gate along Cardinal Rosales Avenue; Mandani Bay, a mix-used joint venture with HongKong Land in Mandaue City; Soltana Nature Residences in Lapu-Lapu City; and Symfoni condominium projects in Cebu City and Quezon City.
Gaisano also noted the demand for “affordable” housing which has prompted TPVDC to enter into this market. The businessman said they are looking for properties anywhere in Cebu and in the country that will serve as affordable housing sites for future projects.
As one of the biggest names in Cebu’s business scene, Gaisano remains bullish on the economic story of the country, especially with the Duterte administration’s thrust on infrastructure.
Gaisano also underscored the government’s role, including the private sector, in creating more jobs since this will support the country’s business and economic expansions, including that of the construction and the real estate industry.
Going public
TPVDC is backed by the Vicsal Development Corp., the company behind Metro Retail Stores Group Inc (Metro Gaisano).
While MRSGI and a local developer Cebu Landmasters Inc. have already gone public, Gaisano said TPVDC has no plans yet to get listed in the stock exchange. This way, he said, the management can easily change course should it deemed fit.