Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town

CEBU CITY, Dec. 17 (PNA) — Cebu-based developer Primary Homes Inc. (PHI) is investing PHP430 million to build 709 townhouse units in its 5.4-hectare property in Poblacion, Compostela town in northern Cebu.

The development, known as Richwood Homes, is PHI’s latest and 36th project since it entered the real estate business and the third project the firm launched this year.

Ramiro Espina, PHI’s vice president for sales and marketing, said Richwood Homes is a development centered on building homes for every Filipino because of its affordability.

Townhouse units at Richwood Homes are priced PHP1.25 million, with floor area of 50 square meters (sq.m) and lot area of 40 sq.m.

“Homeowners will enjoy modern and sleek designed houses, with smooth concrete finished flooring, tiled toilet and bathrooms complete with its fixtures, a kitchen counter and a well-designed plumbing and electrical system,” said Espina.

Espina said the project is ideal for starting families in the business process outsourcing and manufacturing industries.

He said it is also strategically located, being one jeepney ride away from their place of work and retail establishments.

The townhouse community is also a walking distance from the Compostela Municipal Hall and Señor Santiago Church and is 200 meters away from the public market and beach resorts.

Richwood Homes is scheduled for turnover in the fourth quarter of 2017.

Espina said the project is already 20 to 30 percent sold.

PHI is providing flexible payment terms for interested buyers available through the firm’s in-house financing, Pag-IBIG or bank loan.

Espina said buyers who will avail themselves of PHI’s in-house financing would get PHP50,000 discount for a townhouse unit, with a reservation fee of PHP15,000. (PNA)