AboitizLand Unveils Foressa Mountain Resort Town

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ABOITIZLAND launched its first mountain resort town project in Cebu on Thursday, April 27, at Marco Polo Plaza in Cebu City.

Foressa Mountain Town is a 300-hectare mountain resort community to be built in Cansomoroy, Balamban, Cebu. The multi-billion project is a 90-minute drive away from Cebu City through the Transcentral Highway.

Foressa Mountain Resort is a first of its kind in Cebu, a nature community that ensures the property’s natural assets are preserved and left for future generations to enjoy,” AboitizLand CEO Andoni Aboitiz said.

AboitizLand aims to provide its homeowners the great outdoor experience by offering hiking, biking, spelunking, camping, and trail riding within the residential community.

Aboitiz said that a geohazard research was conducted to ensure that the houses will be built on areas that are not prone to landslides.

The development project will be in four phases; the first phase, composed of 51.5 hectares, is scheduled to start in the fourth quarter of 2017.

An initial 114 lots are available to the market with cuts ranging from a minimum of 300 square meters (sqm) to a maximum of 690 sqm.

Patrick Reyes, AboitizLand’s president and chief operating officer, said the first phase of the project is expected to be done around 2020, and the reservation fee is at P50,000.

In 2016, AboitizLand also announced its plans to develop a total of 83.2 hectares of land in Nueva Ecija, Tarlac, and towns of San Juan and Lipa in Batangas.

by Nicko Tubo | April 27, 2017 | SunStar Philippines

Foressa Mountain Town – A lifetime of Outdoor Pleasures in Balamban

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AT the heart of the pearl of the Orient seas lies the island of Cebu, the Queen City of the South. Known for its white sand beaches and rich heritage and culture, it is no wonder Cebu landed fifth on Condé Nast’s Best Islands in the World.

Aside from its beaches however, other treasures of Cebu are waiting to be discovered in the vast highlands of the island, where mountains, gently sloping hills and rivers serve as gateways to various eco adventures. One such nearby town to escape the city from is the Municipality of Balamban.

This once sleepy community is only an hour and a half from the city through the picturesque Transcentral Highway, a scenic road trip offering cool weather, fresh air, lush landscapes and bird’s eye views of neighboring areas and islands. Popularly known as the “Ship Building Capital of the Philippines,” the town at present has a growing eco-tourism side to it waiting to be explored. One can climb Mt. Manunggal and visit the Magsaysay Shrine, savor the famous Balamban liempo, swim at the Cambuhawe Springs, zip line or rappel at any one of the mountain resorts in the area, camp out and reconnect with nature or trek to the Gaas waterfalls.

Soon to rise at the heart of it all is Foressa Mountain Town, a community masterplanned by AboitizLand that will redefine outdoor living. Set within 300 hectares of natural terrain, it will be a place to recharge, renew and refresh the spirit of discovery in its residents. With this development in the works, Balamban is set to be the next star of Cebu where one can experience a lifetime of outdoor pleasures right at his own backyard. PR

March 18, 2017 | Sun Star Cebu

Foressa – A lifetime of Outdoor Pleasures in Balamban

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AT the heart of the pearl of the Orient seas lies the island of Cebu, the Queen City of the South. Known for its white sand beaches and rich heritage and culture, it is no wonder Cebu landed fifth on Condé Nast’s Best Islands in the World.

Aside from its beaches however, other treasures of Cebu are waiting to be discovered in the vast highlands of the island, where mountains, gently sloping hills and rivers serve as gateways to various eco adventures. One such nearby town to escape the city from is the Municipality of Balamban.

This once sleepy community is only an hour and a half from the city through the picturesque Transcentral Highway, a scenic road trip offering cool weather, fresh air, lush landscapes and bird’s eye views of neighboring areas and islands. Popularly known as the “Ship Building Capital of the Philippines,” the town at present has a growing eco-tourism side to it waiting to be explored. One can climb Mt. Manunggal and visit the Magsaysay Shrine, savor the famous Balamban liempo, swim at the Cambuhawe Springs, zip line or rappel at any one of the mountain resorts in the area, camp out and reconnect with nature or trek to the Gaas waterfalls.

Soon to rise at the heart of it all is Foressa Mountain Town, a community masterplanned by AboitizLand that will redefine outdoor living. Set within 300 hectares of natural terrain, it will be a place to recharge, renew and refresh the spirit of discovery in its residents. With this development in the works, Balamban is set to be the next star of Cebu where one can experience a lifetime of outdoor pleasures right at his own backyard. PR

March 18, 2017 | Sun Star Cebu

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Cebu Real Estate Developers Going West

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Cebu real estate developers are looking west at Balamban town, the shipbuilding capital of the Philippines, as they see more opportunities for growth with the town which is considering shifting its focus on other economic drivers that will usher in more expansions in the coming years.

The town, which is 63.9 km west of Cebu City, is the country’s shipbuilding capital for being an industry pioneer, as it is home to internationally recognized shipbuilders such as Austal Philippines Pty. Ltd. and Tsuneishi Heavy Industries (Cebu) Inc.

However, Balamban, which has benefited from the industry-related businesses of the shipbuilding industry in the last decade, is considering shifting its focus on other economic drivers because of the town’s space constraints.

“Shipbuilding in the town is limited at present because of constraints in space. Companies can no longer expand. In fact, Tsuneishi has expanded to Negros (Oriental) because of this limitation,” said Roy Soledad, head of the Cebu Provincial Investment Promotions Office.

Aside from shipbuilding, businesses such as ship repair, aluminum vessel fabrication, and industrial gas production also thrive in the town.

Soledad said he would be expecting shipbuilding companies to maintain their pace, but he would no longer see further expansion in the area.

Land developers

However, he said that there is huge potential in real estate developments in the town as more developers see the benefits of investing in Balamban.

“The local government is much open to land developers interested in putting up subdivisions, other housing projects, and even retirement homes,” he added.

He explained that Balamban is a combination of flat, hilly, and mountainous areas so it has a lot to offer to tourists and retirees.

Foressa Balamban Project

Among the biggest real estate projects to watch out for in Balamban is AboitizLand’s Foressa Mountain Town, a “multi-billion-peso” project soon to be realized on a 300-hectare expanse in Barangay Cansomoroy.

“We’re very much involved in the development of Balamban, with the shipyard and industrial zone. That has clearly opened up the west coast to opportunities and economic activity,” said Andoni Aboitiz, AboitizLand chief executive officer, at the launch of Foressa Cebu recently.

Aboitiz said the property was purchased 20 years ago with the vision that Balamban would take the step toward embracing residential development.

He added that when the Transcentral Highway was built, everything changed for the town and the rest of Midwest Cebu.

The 33-kilometer Transcentral Highway is an alternative mountain route connecting Cebu City to Balamban town in the west and was opened in the early 1990s. This highway makes Foressa Cebu property just a 90-minute drive from Cebu City.

“We felt that Cebu was ready for a mountain town. We felt that Cebuanos were ready for that as a second home. It’s a very unique location, very accessible, and land (prices are) still quite reasonable,” said Aboitiz.

Development of the horizontal residential community, Foressa Mountain Town, which is set in rolling terrain and flat areas, will be in four phases.

The first phase, which is made up of 51.5 hectares, is set to start in the fourth quarter of 2017.

An initial 114 lots are available to the market with cuts ranging from a minimum of 300 square meters to a maximum of 690 square meters with turnover targeted in 2020.

Aboitiz said phase one alone is estimated to cost P300 million to P400 million.

The Foressa Cebu targets young families as well as close-to-retiree and the retiree market.

Other property projects

Other real estate projects in the town are the completed three-hectare San Josemaria Village by Cebu Landmasters, Inc. and the Amongsagana retirement village project by Singapore-based developer Syntech Properties, Inc.

Amongsagana, which means “our abundance,” is a premier-class residential subdivision for active retirees set to rise on 32 hectares of rolling terrain situated at an average altitude of 200 meters above sea level on Mandayao Hills.

Soledad, for his part, said prospective developers may also target foreign executives, managers, and contractors working for the town’s shipbuilding industry.

While prices of land in Balamban are not that high compared to places closer to Cebu City, alienable and disposable land in the town only stands at 55 percent.

Based on data from the CIPO, Balamban has a total land area of 33,700 hectares, 44 percent of which is classified as timberland while the remaining 55 percent is alienable and disposable.

In terms of use, 3,427 hectares have been allocated for agricultural purposes while 5,328 hectares have been set aside for urban development, which includes areas for housing and commercial establishments, among others.

“In terms of land area for development, it is already very limited. But they can always find areas where they can build small projects. Developments that require small spaces are still very suitable,” Soledad said.

Soledad also said Balamban’s accessibility in the west, north and south of Cebu would make it an ideal area to capture markets from all over.

Besides real estate development, Soledad said the town is also looking at agro-tourism and is opening its doors to investors interested in abaca, cut flowers such as those in Barangay Busay in Cebu City, and cacao, which got a boost from Cebu chocolate queen Raquel Choa’s chocolate business.

He said the municipal government is also open to investors of medical facilities, training centers for industry-related skills, and commercial centers such as malls and fast food restaurants.

Other than these, Balamban also relies on agriculture, fishing, local manufacturing, as well as small, medium, and large enterprises.

Balamban is considered to be among the most active local government units in Cebu in terms of investment promotion, Soledad said.

He said the municipal government already has an existing investment and incentives code as well as an economic investment and incentives center, the creation of which is specified in the code.

“Balamban is very accommodating and supportive to investors. They can contact the local government or just walk in the office and they will be provided with support,” said Soledad.

By: Victor Anthony V. Silva | Cebu Daily News | April 28, 2017

Aboitizland Foressa, Foresa Cebu, Foressa Cebu, Foressa Mountain Town, Forresa Cebu
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AboitizLand Unveils Foressa – Cebu’s 1st Mountain Resort Town

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ABOITIZLAND launched its first mountain resort town project in Cebu on Thursday, April 27, at Marco Polo Plaza in Cebu City.

Foressa Mountain Town is a 300-hectare mountain resort community to be built in Cansomoroy, Balamban, Cebu. The multi-billion project is a 90-minute drive away from Cebu City through the Transcentral Highway.

Foressa Mountain Town is a first of its kind in Cebu, a nature community that ensures the property’s natural assets are preserved and left for future generations to enjoy,” AboitizLand CEO Andoni Aboitiz said.

AboitizLand aims to provide its homeowners the great outdoor experience by offering hiking, biking, spelunking, camping, and trail riding within the residential community.

Aboitiz said that a geohazard research was conducted to ensure that the houses will be built on areas that are not prone to landslides.

The development project will be in four phases; the first phase, composed of 51.5 hectares, is scheduled to start in the fourth quarter of 2017.

An initial 114 lots are available to the market with cuts ranging from a minimum of 300 square meters (sqm) to a maximum of 690 sqm.

Patrick Reyes, AboitizLand’s president and chief operating officer, said the first phase of the project is expected to be done around 2020, and the reservation fee is at P50,000.

In 2016, AboitizLand also announced its plans to develop a total of 83.2 hectares of land in Nueva Ecija, Tarlac, and towns of San Juan and Lipa in Batangas.

by Nicko Tubo | April 27, 2017 | SunStar Philippines

 

Foressa Balamban, Foressa Cebu, Foressa Mountain Resort
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Cebu Real Estate Projects Eyed

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A Japanese property developer is poised to continue doing business in Cebu as it sets its eyes on expanding in Palawan as well.

Haruna Yamaguchi, general manager at Ai World Park & Resorts in Puerto Princesa City, Palawan, said they have already prepared a 10-year master plan for several projects in the province.

“Initially, our focus was on developing condominium units to sell to Japanese investors. But now, we have decided to develop resorts since we found that tourism in the Philippines is a big market,” Yamaguchi told reporters in a recent familiarization tour in Puerto Princesa City.

Ai World Park & Resorts is owned and managed by Palawan-based World Ai Corp., a subsidiary of Cebu-based I Land Way Philippines Incorporated. Yamaguchi is also the manager of I Land Way in Cebu.

In Japan, I Land Way is a developer of condominiums, nursing homes, and house-and-lots.

The company recently opened to the public the 26-hectare Ai World Park & Resorts in Barangay Bacungan last February, the first component of which is Sapphire Hills, a mountain resort featuring themed swimming pools, restaurants, and café.

Yamaguchi said they also plan to finish construction and launch the high-end Shojin Resort, a sort of Japanese village, by the end of 2017.

By 2018, they are set to launch a 3.5-hectare project by the beach called Casa Blanca del Amor, meant for guests who would prefer the ocean over mountaintop resort experiences.

Back in Cebu, I Land Way is expected to have a soft opening for the 63-unit Cebu Rumah condotel in Barangay Busay, Cebu City by May.

Yamaguchi said all units have been sold to Japanese investors, all of whom will be getting a share of the profit from condotel revenues.

The developer also has projects on Mactan Island expected to be completed in 2017, the 200-unit The Reef condominium and 180-room South Reef condotel beside it.

“There are also other plans for Cebu,” she said, although she did not divulge what these are.

Before the firm was established in Cebu in 2013, executives saw potential in the province’s economic growth.

The population is growing while prices of real estate are still relatively cheaper compared to places in Japan or other Asian countries.

By: Victor Anthony V. Silva | Cebu Daily News | April 24, 2017

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How a Family Business Became Cebu’s Top Local Developer

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Jose Soberano III likes to keep it all in the family.

In 2000, he left his post as vice president of an Ayala subsidiary to build his own real estate company, Cebu Landmasters Inc. (CLI).

Soberano is CLI’s president and chief executive officer. His wife, Marose, is the executive vice president for finance. His son Franco is the senior vice president and chief operating officer, while his daughter Joanna Marie is also vice president and marketing director.

But Soberano also considers his employees – all 177 of them – as family.

Even their customers are treated like kin: in the homeowner associations of their residential condominium and village projects, the family sits as board members so that they can stay abreast of their customers’ needs and concerns. CLI also has an in-house customer care and property management team to maintain customer satisfaction, during, and after turnover.

As the company gears up for aggressive expansion in the Visayas and Mindanao (VisMin) region this year, Soberano’s family will grow even bigger.

And since CLI is eyeing an initial public offering (IPO) in the Philippine Stock Exchange (PSE) next month, soon, the public can be part of Soberano’s financial growth, too.

Homegrown success

Though his company is only 13 years old, Soberano is a veteran in the VisMin real esate scene. He has three decades of experience in the property industry, including 23 years with the Ayala Group. He was part of the team that built Ayala’s Cebu Holdings, Inc. (CHI).

In 2016, CLI’s sales reached P2.17 billion, a 41% increase from 2015. Net income was at P702 million, higher by 30% from the previous year.

In 2003, he founded Cebu Landmasters. His first project was a village in Balamban town, for employees of a Japanese shipbuilding company. The houses sold out very well and Soberano replicated his success in other cities in the countryside of Cebu. Economic housing became CLI’s flagship development.

But Soberano didn’t stop there, and in 2010, CLI began venturing into vertical projects in Cebu City’s premiere business and residential districts. Aside from condominiums, CLI has also built office and mixed use properties, and even struck a hotel partnership deal with Ascott.

Majority of their residential projects are sold out within 12 months, some even selling out within a few months. Now, CLI has 11% market share and is Cebu’s top local developer next to Ayala Land.

In 2016, CLI’s sales reached P2.17 billion, a 41% increase from 2015. Net income was at P702 million, higher by 30% from the previous year.

The company has already 28 completed and ongoing projects under its belt in Cebu, Cagayan de Oro and Davao. Cebu Landmasters is also investing P12 billion in 14 additional residential and commercial projects that will be launched not just in key cities like Cebu, Davao, and Cagayan De Oro, but in also in Iloilo, Bacolod, and Dumaguete.

Soberano is confident about CLI’s success in these ventures. Since CLI is a homegrown company, they are deeply familiar with the needs and wants of their market: the price point, connections, partnerships and the buyers.

“We feel that these are places in VisMin with strong potentials and where there is need for more housing,” Soberano said. Global services firm PwC has identified Iloilo, Cebu, Bacolod, and Davao as some of VisMin’s “investment hotspots,” where real estate will be a key driver in economic growth.

VisMin makes up about 27.3% of the Philippine’s annual gross domestic product (GDP). The influx of tourists and BPO companies in the region is creating a need for more commercial and mixed-use developments.

The spike in OFW remittances since last year is also expected to increase demand for good value housing across the country.

‘We build with you in mind

Last year, CLI revamped its tagline, “we build with you mind.” It mirrors their promise to always deliver value for money for their clients.

The company’s core strengths are its local roots and hands-on approach to real estate. They’re familiar with the exact needs and wants of their customers. They’re known for always completing projects on time.

They’re also better positioned to get the best deals from the region’s top players. Because CLI is a trusted joint venture partner of prime landowners in VisMin, they can build projects that are never more than 2km away from a main road.

But even now that CLI is a multimillion-peso company, Soberano still adds his personal touch to the company and treats it like a family business.

He’s never missing in the company’s activities. He is on top of the selection and visits for land prospects and is always present in community talks, groundbreakings, launches, and even press briefings. He hopes to lead by example and encourages his family and employees to embrace the same values.

His vision is for CLI to become the most preferred developer in VisMin, not just in the residential and commercial segment, but also in the hospitality industry.

To fund the expansion, he is now welcoming the public to his family.

Cebu Landmasters intends to be the first homegrown Cebuano developer to be publicly listed in the PSE. The company has filed an application with the Securities and Exchange Commission (SEC) to sell up to 580 million common shares through an initial public offering, targeted to be available by May. The SEC has granted CLI approval last April 20.

The company plans to raise P3.8 billion from sold shares, which will be priced up to P6.65 per unit. – Rappler.com

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Cebu Real Estate Properties in the Philippines

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