CEBÚ | Avalon [20F|res]

[vatics]

how are you related with the mendoza's in ibabao mandaue?

[realcebuestate]

Originally Posted by vatics

how are you related with the mendoza's in ibabao mandaue?

according to my dad, related daw sa mga taga mandaue pero dili na siya ka-trace. hehe.

saw your website chard. bilib na gyud ko nimo. i'm still developing mine...

[vatics]

thanks for the comment, john. we need to have our presence felt on the web and you are half way there. by the way, you know sandra mendoza? she's a licensed broker also. tried to invite her to join our newly formed alliance but still waiting for her confirmation. you could also join our newly found independent group.

[realcebuestate]

Originally Posted by vatics

thanks for the comment, john. we need to have our presence felt on the web and you are half way there. by the way, you know sandra mendoza? she's a licensed broker also. tried to invite her to join our newly formed alliance but still waiting for her confirmation. you could also join our newly found independent group.

i don't know a sandra mendoza bai. istorya nya ta anang imong group. i have your number man. will call you nya.

[vatics]

[Jimbu]

May 15 Update:
http://www.cebutowerpalace.com.ph/page.php?page=1

[diehardbisdak]

at last, may progress na gyud na makit-an!


As of 15 May 2008
source: www.cebutowerpalace.com.ph

[Weina]

Originally Posted by dive-cebu

i think vatics can help u with that

Originally Posted by vatics

grand cenia is outside cebu business park whereas tower palace is just inside cbp and just a walk away is ayala center cebu where malling is a considered a lifestyle. besides, i have some concerns with filinvest projects thus i am not into it. though tower palace may lack so much in terms of marketing hype unlike filinvest do in most of their projects but the former [tower palace] is working hard to finish the project and let not talking do the walk. they simply walk the talk.

thanks guys...

@Vatic can you please share or pm me what is your concern with Filinvest. I'm interested to know that since i'm planning to invest in their projects. There must be something since just today a broker from other firm also tells me that it's hard to work with Filinvest but she don't want to tell more details. If you know the schedule of pre selling of condotel project of this tower palace please kindly update us here. Thanks again.

[vatics]

Originally Posted by Weina

@Vatics can you please share or pm me what is your concern with Filinvest. I'm interested to know that since i'm planning to invest in their projects. There must be something since just today a broker from other firm also tells me that it's hard to work with Filinvest but she don't want to tell more details. If you know the schedule of pre selling of condotel project of this tower palace please kindly update us here. Thanks again.

tower palace condo units are currently on-presale. please take note that it is not a hotel condominium like grand cenia of filinvest. about my concerns on filinvest project, i'll pm you.

overall, i will rate tower palace 9.8 but in terms of location and accessibility 10.00. where can you find a residence where you will witness and see the rising of beautiful skyscrapers right from your living area's window in your unit. where can you find a lifestyle mall that's just walking distance from your residence. where can you find a residence that is surrounded by regional headquarters of local and foreign banks. convenience is really within reach. if my savings are enough i would certainly invest and live here. you cannot find a neighborhood as beautiful and as peaceful as ayala cebu business park. truly an urban park worth residing.

[Weina]

Originally Posted by Ex!lE

Fastem invests on 2nd condotel


Korean-led company Fastem Housing and Development (FHD) is set to invest another multi-million condo-hotel facility at the Cebu Business Park (CBP), an expansion of its 200-unit condomium building currently being constructed.

In an interview with FHD president Sun Kyu Baek, he said that the company will spend another P1billion to build a condo-hotel high rise building in a P1500 square-meter lot beside the 19-story Tower Palace Residential Condominiums which is targeted to be completed by September of 2008.

According to Baek this second project of the company will include a commercial complex component. Construction will kick off next year.

Currently, he said an extensive feasibility study is being done on this second project, and that complete details of the plan will be formulated immediately after the study.

FDH hsa allocated about P1.4 billion investments for the creation of the Tower Palace Residential Condominium. The company is also expecting to spend similar investment cost on this second project.

FHD started in the Philippines in 1980, and handled various construction projects in numerous cities and sites in Asia

The Fastem Group of companies include; Fastem Construction, Fastem Wall System, Fastem Trading and FHD.

Recently, the company officially opened its showroom showcasing the company several condo unit models at their temporary office also located at the CBP.

Baek said because of growing interest for condominium living lifestyle in Cebu, he expects to sell all the 200 units next year, the reason why, the company has planned out another project in 2007.

Cebu, which is an emerging city in the Philippines, with an economic growth that has posted faster than any other regions in the Philippines, offers a good potential for condominium based businesses, both in residential and commercial packages.

Months after the company marketed its condominiums it easily registered a 20 percent sold out of the 200 available units.l

ChaCha R. Rama, FHD marketing director said 80 percent of its buyers are foreigners, mostly Europeans, while 10 percent OFWs and balikbayans, the rest are investor buyers.

Originally Posted by vatics

tower palace condo units are currently on-presale. please take note that it is not a hotel condominium like grand cenia of filinvest. about my concerns on filinvest project, i'll pm you.

overall, i will rate tower palace 9.8 but in terms of location and accessibility 10.00. where can you find a residence where you will witness and see the rising of beautiful skyscrapers right from your living area's window in your unit. where can you find a lifestyle mall that's just walking distance from your residence. where can you find a residence that is surrounded by regional headquarters of local and foreign banks. convenience is really within reach. if my savings are enough i would certainly invest and live here. you cannot find a neighborhood as beautiful and as peaceful as ayala cebu business park. truly an urban park worth residing.

Vatics i was referring to the quoted article above. i thought they gonna construct a 2nd tower that will function as condotel and i'm interested on this project. ok will check my pm later. thanks

[vatics]

Originally Posted by Weina

Vatics i was referring to the quoted article above. i thought they gonna construct a 2nd tower that will function as condotel and i'm interested on this project. ok will check my pm later. thanks

that is on the pipeline @weina. once the 1st tower will be completed they will initially announce the construction of their 2nd tower. it is actually a mixed-use building.

[D'Transporter]

Richard, are there any special deals or offers in terms of discounts and payment schemes?? How much is the two bedroom unit (#202) between 15th and 17th floors?

[Weina]

Originally Posted by vatics

that is on the pipeline @weina. once the 1st tower will be completed they will initially announce the construction of their 2nd tower. it is actually a mixed-use building.

thanks Vatics will be waiting for this

[vatics]

for a 2-bedroom unit facing north of ayala mall, contract price is approximately 8M. 2-BR facing south is 7.85M. you can avail a 10% discount if you pay 30% downpayment in cash/PDCs within 30 days. 70% balance is payable upon turnover either thru own equity or bank-financing.

e.g. for a 2-BR facing north, TCP is 8M. 30% Equity is 2.4M inclusive of govt. charges and 10% discount. 70% Balance is 5.6M payable upon turnover thru own equity or bank financing.

you may also avail of deferred cash terms.

[D'Transporter]

Thanks for the quick reply bai, the prices of condos there are almost at par with some condos in Makati. That 2BD unit with an additional parking stall will basically cost around $201,190.00.

[realcebuestate]

Originally Posted by D'Transporter

Thanks for the quick reply bai, the prices of condos there are almost at par with some condos in Makati. That 2BD unit with an additional parking stall will basically cost around $201,190.00.

I agree bai. I just hope the condo developers will not raise their prices too high so that the local filipinos can still afford the units.

[ivanc]

if ever i'd get a condo (and if ever i'd be able to afford one) i'll go with tower palace.. for me its just located at the right place... across ayala mall, near IT park, near sa ayala terminal (where different jeepney routes converge), one ride to SM, one ride to city center..

[D'Transporter]

If I had enough disposable income I will probably pick Tower Palace too.

_____________________________________________________

Guys, I did some research on condos for sale here in Los Angeles and believe it or not you can find a lot of it (2BD + 2BA) for sale under $200K specially the foreclosed ones. One can even buy a house in Las Vegas for that price. I'm just amazed on how expensive new housing it is now back there and I am even more amazed that inspite how expensive it is now that there are still a lot of people who could afford to buy. Do you guys know if a lot of these new homes or condo owners actually live full time on their homes? Do you guys know if most of these units are just vacation homes?? OR are these new housing end up just being rented out by these owners?? if so....by how much??

[vatics]

Originally Posted by D'Transporter

Thanks for the quick reply bai, the prices of condos there are almost at par with some condos in Makati. That 2BD unit with an additional parking stall will basically cost around $201,190.00.

Tower Palace and Citylights Gardens are developed by Korean and Singaporeans developers, respectively, which follow Philippine and their respective country's standards. As what my foreign-clients say, these are the real condos with large livable space, starting at 100 sq.m. (1,076 sq.ft.). When comparing these projects with those in Makati, definitely our condos here are better in terms of location and accessibility. Both international seaport and airport are just less than 30 minutes away.

I still say that our condos in Cebu are cheap. For luxury condos, prices in Makati now start at P110,000 per sq.m. whereas in Cebu prices start at P75,000 per sq.m. That is almost P35,000 per sq.m. difference which can already buy you an additional studio unit or a 2-bedroom "low-cost" townhouse here.

Originally Posted by realcebuestate

I agree bai. I just hope the condo developers will not raise their prices too high so that the local filipinos can still afford the units.

I'm more concern how the real estate market reacts once Tower Palace is finished. Since prices are determined by supply and demand, TP condos will definitely have a high appreciation value in few years. There is no other condo like TP--elegant and chic exterior design, modern comforts and spacious livable areas--situated in one of the most lively lifestyle places in Cebu. With only 200 limited units, TP will be a good investment indeed.

Originally Posted by ivanc

if ever i'd get a condo (and if ever i'd be able to afford one) i'll go with tower palace.. for me its just located at the right place... across ayala mall, near IT park, near sa ayala terminal (where different jeepney routes converge), one ride to SM, one ride to city center..

All conveniences merge at your place at Tower Palace.

Originally Posted by D'Transporter

If I had enough disposable income I will probably pick Tower Palace too.

_____________________________________________________

Guys, I did some research on condos for sale here in Los Angeles and believe it or not you can find a lot of it (2BD + 2BA) for sale under $200K specially the foreclosed ones. One can even buy a house in Las Vegas for that price. I'm just amazed on how expensive new housing it is now back there and I am even more amazed that inspite how expensive it is now that there are still a lot of people who could afford to buy. Do you guys know if a lot of these new homes or condo owners actually live full time on their homes? Do you guys know if most of these units are just vacation homes?? OR are these new housing end up just being rented out by these owners?? if so....by how much??

Yes, there are plenty of bargain condos in LA under $200K but these condos are either too old or foreclosed ones. Recent condos now provides excellent amenities like pool, gym, playcourts, spa, etc. which are not provided in older or early condo developments, thus a much higher unit price than the old ones. Back here, there are still condos that are cheap. You can even own a 1-bedroom condo for less than $70,000 having a floor area of 44 sq.m. (474 sq.ft.) right in Cebu City. The question is, do you know where to find them? Well property experts can assist you with that. Remember Cebu has many pocket neighborhoods, a client commented. You are just wondering how these beautiful pocket neighborhoods are not located all in one area or zone. Maybe of poor urban planning of the city.

The condo market now is different than what had happen during the Asian financial crisis in 1997-1998. Most buyers of condos now are retirees, foreign expats, OFWs, second-home buyers and family starters. Basically, these are all end-users . What had happened during the Asian financial crisis is brought about by an unstable real estate demand from speculators/investors. No actual need arose, thus everything collapsed financially.

The situation now is different. We really see a real demand for housing and developers get commitments from end-buyers to be fully paid. Investors on the other hand play with their investment money. They buy when a project is still on pre-sale then sell them either half-way of the construction period for a profit. There is no real need, no real estate boom. It is just mere speculation and the real estate prices are manipulated at that time. So the real estate bubble in the Philippines is for real and will continue to grow in 10-30 years starting year 2000. The real estate demand is very stable now thanks mostly to retirees and OFWs.

[slimer]

Photo taken today:

Tower Palace (medyo layo pagkakuha)