Gokongwei property unit launches 25-story condo project in Cebu

Gokongwei-led Robinsons Land Corp. seeks to boost its presence in Cebu with the unveiling of a 25-story mid-market condominium project across from the University of the Philippines campus in Lahug.

The new project, “Azalea Place,” under the Robinsons Residences brand catering to urban living, offers 407 units for as low as P2.03 million for a 25-square-meter studio unit to as high as P5.36 million for a two-bedroom 56.75-sqm unit.

This will be RLC’s fourth residential project in Cebu. Azalea Place will start construction next year and units will begin to be turned over to buyers by the second quarter of 2015.

In a statement, RLC president Frederick Go said the property developer’s growing number of residential projects in Cebu reflected the growth in the province and the region. “Our company is very bullish about this promising segment.”

“Azalea Place is all about convenience for the market it caters to: start-up families who desire a centrally located home in the metro, close to work, school and recreational areas, investors seeking good returns from a large pool of potential renters, and parents who want to invest in prime property for their children’s future,” Go explained.

The studio units have a floor area of about 25 sqm and will sell for P2.03 million to P2.52 million. The selling price will range from P2.42 million to P3.76 million for the one-bedroom units sized at between 29.75 sqm and 38.5 sqm. The two-bedroom units will be sold for P3.63 million to P5.36 million with sizes ranging from 43.5 sqm to 56.75 sqm.

RLC has put in place affordable payment schemes that allow a buyer to acquire a studio unit for as low as P10,000 a month.

“Azalea Place is the only residential condominium along bustling Gorordo Avenue, making it an ideal home for a market that wants everything within easy reach,” Go said.

Given its strategic location along one of Cebu’s major thoroughfares, RLC sees Azalea Place having a strong potential for rental income for investors such as businessmen and overseas Filipino workers, banking on an army of students, young professionals and urban Cebuano families looking for homes in a convenient location.

Since Cebu is also a leading business, cultural and social hub, RLC also anticipates that there will be many prospective buyers throughout the Visayas-Mindanao region who would want to invest in a home in the “Queen City of the South.”

Featuring a modern Asian design, Azalea Place features units with alternating balconies. It will have a commercial area at the ground floor to cater to residents as well as the surrounding community, four basement parking levels, a business center and library/Wi-Fi lounge, indoor game room, audio-visual room, function and conference rooms, gym, swimming pool, spa pool and a Japanese-inspired gazebo.

The company’s decision to enter Cebu’s mid-market segment seeks to follow on the success of its three other projects in Cebu. It first gained a foothold in Cebu with Robinsons Homes’ Aspen Heights, which it noted as the first themed community in the province. It is also the developer of subdivision lots in Blue Coast Residences, Mactan, under Robinsons Communities; and AmiSa, the first leisure residential community in Mactan under the Robinsons Luxuria brand.