Developer targets to build 3T homes in Cebu in 3 yrs
Property developer Sterling Land Residences and Developments Inc., is building at least 3,000 homes in Cebu in the next three years, riding on the sustained high demand stride for real estate in the province.
The company’s president and chief executive officer (CEO) Marilou E. Padilla made this announcement yesterday on the sidelines of the company’s ground breaking ceremony of its fourth residential development project called Sta. Isabel Estate, located at barangay Ocaña in Carcar City.
Padilla said Sterling Land is going to meet the rising demand for gated residential communities in the urban and sub-urban areas in Cebu, such as Carcar City, as well as vertical residential projects within Metro Cebu.
Sterling Land is positioned to lead the introduction of eco-value living concept in Cebu province, an economic housing category with eco-friendly facilities and amenities.
Targeting the thick working-class market, Padilla said Sterling Land’s Sta. Isabel Estate offers house and lot units that are priced at an average cost of P575 thousand.
It is located in a 1.2 hectare property, which Padilla said will have a total of 213 clustered houses, one of the green housing subdivisions in Cebu which targets the mainstream market.
“We are adapting innovative kinds of construction methodology,” said Padilla.
After its debut in real estate development in Cebu in 2014, Sterling Land already built four projects, bearing different brands and market positioning.
In December last year, the company launched its 25-hectare uphill township project called Minglanilla Highlands located in Tubod, Minglanilla, Cebu. This brand targets the higher-end residential market.
It also introduced the Santa Monica Estate Subdivision in Talisay City, Cebu a residential project for the mid-market.
The 3,000 units that will be built by the company in the next three years will combine house and lot packages, as well as condominium products — for its properties located in the high-dense areas in Metro Cebu.
It will soon build an 18-storey condominium and commercial building in Lahug.
The company is backed with strong foundation of the Sterling Financial company which has been in the finance business for 13 years.