fbpx
Connect with us

inside

Why Invest in Cebu?

Luxury real estate in Cebu is a long conversation – ready-to-move in condo units or building a house from scratch? City views or beachside living? Urban lifestyle or a long drive to town?

Luxury real estate in Cebu is a long conversation – ready-to-move in condo units or building a house from scratch? City views or beachside living? Urban lifestyle or a long drive to town?

When houses in the gated bastions of Cebu’s Maria Luisa Park or NorthtownHomes are priced at a cool fifty million pesos or more, no one bats an eyelash anymore. Although houses in Manila’s old rich enclave of Dasmariñas Village regularly start at three times that amount; at neighboring Forbes Park, the same price gets a measly thousand square meters lot, if anything at all, numbers like these doesn’t happen often in Cebu. It has occurred of course. Ten years or so ago, the one time residence of furniture tycoon Paul Maitland Smith, an estate with fabulous views of the city was listed at one hundred fifty million pesos, or the grand purchase of the Lhuilliers (yes, Monique’s parents) of former governor Lito Osmeña’s iconic Salakot House, which they promptly tore down to build an even more fabulous mountaintop abode.

The country has entered a new era of prosperity, where clearly big is always better. When high-walled properties are rented out at P200,000 or more a month, local residents are more than ready to move out. Renters are typically expats with unlimited expense accounts. Buyers are locals seeking to upgrade, or as is seen lately, affluent foreigners married to someone from here.

The Philippines outdated law on foreigners owning land more than 2,000 square meters is a hindrance for sure, and this is where the big condo developers come in, offering a myriad of choices, ranging from 4 to 40 million peso units. The new reality in the city’s landscape is full of vertical real estate, with three leading developers all offering strong unique character of their own. Ayala Land Premiere started the trend with two projects – the 1016 Residences and Park Point Residences both located around the vicinity of bustling Ayala Mall, followed by Federal Land’s three towers comprising Marco Polo Residences. Megaworld’s masterplanned community of Newtown in Mactan Island is an ambitious mixed used community anchored by an initial offering of two five-storey BPO buildings and four residential towers, patterned after its highly successful township of Eastwood City, in Libis, Quezon City. The 16-hectare community is ideally located close to the international airport and the beaches of Mactan Island. It is marketed to Japanese retirees as well as the expected growing community of workers in the BPO centers. Top management will vie for the penthouse units, of which there are 14 planned per building.

Noli Hernandez, president of Megaworld Cebu Properties says, “Our most expensive units are the corner units in the top floors where there is an expansive view, and a certain premium and prestige attached to ownership.”

Not to be outdone, Cebu’s horizontal developments are competing aggressively for those who want a home with gardens and pools. In the high-end market, there are three big players as well. MRO’s Maria Luisa Estate Park is a well established hillside village of almost 200 hectares, Aboitizland’s Northtown and Pristina North comes next with its tree lined streets and sidewalks, both located in the northern Banilad area of the city. The latest addition to this list of prestigious addresses is Genvi’s Monterrazas de Cebu, an 80-hectare development in the south, with a majority of homesites inclined to great city views.

Why is it the best time to buy in Cebu? Because there are still some good buys to be had. Blessed with both sea and mountain access, the island of Cebu unfortunately has only 30% of livable land, the majority are not conducive to city living. The growing economic boom in BPOs have not shown any signs of slowing, and the need for affordable properties and rentals are being filled slowly as condominiums continue to be built. Still, there is a need for caution in vertical developments. Some lot owners take it upon themselves to be developers without the necessary acumen and resources, and they flood the market with sub-par units. Pricing is also a sticky point. As Alice Plaza, a long time RE broker explained, “there are some developers pricing their units same as those in Manila, at more than P100,000 per square meter. How can that be when the lot prices in Manila are four times higher than the most expensive real estate in Cebu?” she asks. A more realistic figure for high end units with all the bells and whistles, according to her, should hover around P100,000. For lower end units, prices should be P20,000 less. Residential lot prices are more reasonable, with the three top developers offering P12,000 for non-view lots to P20,000 per square meter for prime properties with city and mountain views. Commercial properties in the major hub like the Cebu Business Park and IT Park are set at P40,000 to P50,000 per square meter. Buyers can surely benefit from strong competition and attractive financing offers from both developers and banks with interest rates that are historically lower than ever.

Major developers have come in to create world-class communities that embody an upwardly moving lifestyle, and many homegrown companies have followed suit. Now, real estate companies are finding their own niches and identifying features that address the varying price margins and design preferences that homeowners today are looking out for.

It’s progress that isn’t hard to understand, considering the growth of Cebu’s other industries, providing an estimate of 11,000 new jobs in the past year alone. Tourists continue to come in, growing exponentially every year. Cebu is clearly in the throes of becoming a global city, and the sprouting up of world-class residential units are an indication of the improving standard of living to come. Of course, if you can afford to shell out the money for a Maria Luisa estate, go right ahead. The rest of the population will just have to pretend they’re not green with envy.

inside

St. Patrick’s Day Celebration at Marco Polo Plaza

Marco Polo Plaza will be celebrating St. Patrick’s Festival with the rest of the Irish community! It’s not only a feast of greens and four-leaf clovers but of good food too! From March 17 to 19, dig in and enjoy traditional Irish dishes and delights such as Irish Stew, Potato Nachos, Cheesy Reuben Loaf, Guinness Beef Stew Pot Pie, Beer Mac N’ Cheese and many more. These on top of the international lunch and dinner buffet at Cafe Marco. Complete the experience in true Irish fashion with an ice-cold mug of Irish Beer, also available at Cafe Marco.

Gastronomic adventures await at Café Marco! For inquiries and reservations, you can call (032) 253-1111. For real time updates, like the Facebook page at facebook.com/marcopolocebu or follow on Twitter at @5StarInCebu. Visit the website at www.marcopolohotels.com.

For inquiries and reservations, call 253-1111 or email hospitality.ceb@marcopolohotels.com.

Continue Reading

Culture

La Liga Henerales: Shaping History Awareness Back Again in Cebu

La Liga Henerales is a community of young talents passionately promotes historical awareness through periodic costumes carefully researched for its authenticity and accuracy and promoted as well in events and schools.

Only few individuals before were into pursuit in this historical awareness project until the age of communication where internet is convenient in the palm of our hands through our gadgets. New information travel fast and data is retrievable, yet also possess a disadvantage with the plethora of different social media platforms carried by various makers as well. In a daily basis, historical backgrounds are unearthed making its trend until now as new discoveries are released, but the idea of these information being shown and shared is as close as not valuing or commemorating to its sources leaving this information just a trend.

There is a certain community of Cebuanos that are taking a quest to rewrite and restructure what was in the past, filling the gaps in facts with further research of variable sources that are made debatable but sticks to it true cause, to unveil the truths of our heritage and our origins, as Cebuanos and as Filipinos as well.

La Liga Henerales is a Cebu-based, non-profit organization composed of a group of talented, committed and respectable individuals from different walks of life, schools and profession whose primary aim is to promote both, Cebuano and filipino culture and heritage that was depicted before in pre-colonial and colonial eras via re-enactment with costumes vested in proper research and investigation to achieve authenticity. They also push their cause on schools and other social gatherings promoting and spreading awareness about our local, and national heroes that we look up to. With these said, they also portray a closer look of the lifestyle of the past to where they perform stories, perform forgotten dances and rituals and portray their individual roles, vital in the fight of our country’s future during those challenging times, and in honor to spread awareness of the lost practices we had in those times.

The Founder

Combining passion and education. Louis Villaflor re-enacts his way patriotism through his periodical costumes and expresses his love for Cebu and Philippines as a culture-centric country.

Louis Kenneth Villaflor, an entrepreneur and an avid history enthusiast and costumer, founded the group on the purpose of re-educating the youth about real local and national history, he saw the opportunity to combine his favourite hobbies which is costuming and story role-playing and the process to instill the historical awareness and value among the youth and in schools, along with a group of fellow enthusiasts who shares his passion about research and history, they took it among themselves to be purposeful in the advocacy in spreading historical awareness in schools or events by wearing periodically correct costumes and sharing the stories and its value to the youth.

Behind the Garments

With the its senior expertise of fashion design and a teacher of the field, his passion also of history caters also in his designs as he pushes through sustainable fashion and historical awareness combined.

Meet Rodney “Pee-Wee” Senining, who has been in the fashion industry since the late 90’s, strives  in concepts of avant-garde, innovation and cutting edge-fashion forward design. And also a teacher of Architecture, Fine Arts and Design of University of San Carlos, he had grown into research of books like the holy grail in the Library Resource Center and is always fascinated of the periodical times and how to preserve it; Hence, his interest had grown for the affinity of Periodical Costumes and Sustainable Fashion.

 Being part of the group La Liga Henerales, he was tasked to instantly be their mentor for the young talents and as the organization is still new and developing with limited funds, resourcefulness and research were done to come up with a good output of photo shoot and was quite proud of it and still promise on the next editions of pieces to be more historically accurate. Even as teacher for Fashion Design in SAFAD, his expertise comes hand in hand with the members as he helps them do research as well. His passion and interest somehow led him with enough knowledge to key the insights of the significant periods and historical backgrounds of it.

Historical Awareness in Cebu

The strength and progress of a country is anchored on how well they know and honor its history. The means of historical awareness in Cebu is almost non-existent among the Cebuanos, although we push forward in tourism and promote beauty through sceneries and other aspects of culture yet never commemorate deeply on historical icons such as our other local heroes, and ancient cultures as well that is almost been forgotten in an urban Cebu. Nevertheless, as long as communities’ like La Liga Henerales are now evolving in a learning state by real discovery by multiple resources, this will always reflect of how we appreciate love, patriotism and honor to our country and would look forward to progress.

 

Continue Reading

Culture

Christmas in Colonial Cebu: A Themed Exhibit by Teresin Mendezona and Eva Gullas for Stylescapes 2019

Ever wonder how the yuletide season is celebrated in colonial times? This year at Stylescapes 2019, Teresin Mendezona and Eva Gullas collaborated to showcase the elegance of Christmas during the colonial period, specifically most of the Spanish regime.
 
This pop-up radiated the ambience of Christmas in the colonial times through the various details used within the setting. Specific pieces like the gansilyo table cloth, oil lamp, and the sketches were from Ms. Mendezona and Gullas themselves.
 
Aside from that, various table and living room pieces were sourced from Rustans and Metro Ayala, and was curated by Doro Barandino.

Continue Reading

Trending