Developer sees demand growth for pocket housing subdivisions

By Nancy R. Cudis
sunstar.com.ph


THE demand for pocket residential subdivisions has bolstered the confidence of the marketing arm of a new upscale housing development in Cebu.

F9 Property Development and Consultancy Inc., a real estate service provider, recently started pre-selling the 18 Mediterranean-themed units of Pigafetta Court, a pocket subdivision in Bulacao, Pardo, Cebu City.

“Small compact townhouses are now the trend in the (local) real estate industry. This is because their location is private yet ideal, being near to the city. It is also attractive to small investors who want fast payback to their investments,” said F9 president Emily Cabillada in a phone interview.

Pigafetta Court is the first project of Cebu-based developer Tropica Sphere Development Corp. that is owned by Ramon Jalipa, a retired balikbayan.

The residential development occupies a land area of 2,189 square meters (sq. m). It has four model units, including Sofia (125.79 sq. m.), Verna (124.57 sq. m.), Rossana (132.57 sq. m.), and Gina (134.45 sq. m.).

Cabillada said the foundation of the Pigafetta Court units is asphalted to prevent termites, a technology that Jalipa brought from the US.

F9 is eyeing young couples, locals, balikbayans and start-up families for the units whose introductory promo prices for the first five buyers range from P3.2 million to P4.3 million.

Two families have reserved units at Pigafetta Court, said Cabillada.

She said the construction of the townhouse units will take five to six months, and will begin after the buyer has made a 30-percent down payment. The remaining cost of the house and lot can be paid through bank financing. F9 is also arranging possible financing for buyers through Pag-Ibig Fund.