Sunday,
December 22, 2013
HOMEGROWN
MSY Holdings Corp. (MSY) is investing at least P7 billion for its four property
projects in Cebu. These projects include a mixed-use building in Cebu Business
Park, a high-end condo in Nivel Hills, a residential development in Talisay and
a high-end villa resort in Daanbantayan. Two of these projects will be
completed by next year while the other two are scheduled to be launched next
year, said MSY president Martin Yeung. He said Cebu’s thriving economy and
robust real estate industry drove them to accelerate their property
developments.
Martin
said these projects will improve the economic landscape of the region and
bolster growth in the countryside.
High-end
resort
The
projects that will be completed next year includes the MSY Tower 1 which houses
office and condominium units. The 16-level building which is currently under
construction at the CBP is expected to be completed by the first quarter of
next year.
The
P1 billion mixed-used building will also serve as the new headquarters of the
company.
The
high-end Kandaya Resort, on the other hand, is due to open in September 2014.
MSY
chairperson Mariquita Salimbangon-Yeung said the villa resort was originally
scheduled to open this month but it was severely affected by the typhoon,
prompting them to postpone the opening for rehabilitation work.
“The
villa resort wasn’t spared . We incurred huge losses but one good thing the
typhoon brought is that it gave us the opportunity to build stronger foundation
for our projects,” she said.
The
15-hectare P1-billion resort project in Daanbantayan is positioned as a health
and fitness resort. It has 18 rooms and 22 villas, of which 16 villas have
individual swimming pools.
Officials
said the resort will be the first six-star resort facility in the northern part
of Cebu.
MSY
is currently doing domestic and international marketing promotions for the
Kandaya Resort.
The
company is also embarking on bigger projects next year.
Martin
said they will be developing another Bayswater residential development in
Talisay City. The five-hectare project is described as an improvement on
Bayswater Mactan. It will have 500-560 house units.
“The
advantage of this project is that we are strategically located in the booming
SRP area,” Martin said.
Talisay
project
MSY
is earmarking P1 billion for the Talisay project.
Martin
said the expansion of Bayswater in Talisay was driven by the “extreme success”
of its Mactan project, which is now 90 percent sold. The project has 850 units.
Bayswater
Mactan is a 15-hectare project launched in 2008 with prices ranging from P1.5
million to P9 million. It has five house models.
“We
noticed that Cebu is growing faster than we expected so we are taking a chance
and riding the wave to increase the developments we have here,” Martin said.
The
firm will also venture into high-end condo project. Mariquita said the company
will invest P4 billion in building 128 Nivel Hills.
MSY
was founded in 2003 by Mariquita. The company is into residential and memorial
properties.
.jpg)
