Davao City — The Chula Vista Residences is now ready to accept buyers wanting to experience high-end living with acquisition cost at affordable rate.
Over the weekend was also the inauguration of its Grand Entrance Gate and Guardhouse at Cabantian, Buhangin, Davao City where the ribbon cutting ceremony was led by Pag-IBIG Fund vice president for Southern Mindanao operations Jose W. Banzon, Jr. and Hemeni Land Corporation (HLC) vice pesident and chief operations officer Andrea Leah V. Romero with HLC officer-in-charge Abigail Tao and Pag-IBIG Davao branch manager Rodrigo Suemith.
The project consists of 430 house and lot packages in an 8.5 hectares property where it is equipped with amenities like club house, swimming pool, sports facilities and parks and playgrounds.
Romero in her briefing said it also has concrete roads and excellent drainage system with perimeter fence and 24-hour guarded gates. Supply of water and power is excellent tapping both the Davao City Water District and Davao Light and Power Company, Inc. processing plants and others businesses.
She said they have designed seven model houses of either bungalow type and two-floor housing units for the buyers to choose from depending on their need.
“We do not impose on them and it’s always the buyer’s choice considering that our aim is to build a community where families could experience the vibrant and rich scenery of the place,” she said.
She said their company has been proactive in all its design features to give homeowners an ideal living environment.
Romero said the Chula Vista is intended for the middle income group who has the capacity to acquire property estimated to cost at close to two million pesos for the house and lot package.
With their initial offering she said about 40 percent of the site already has confirmed reservations of mix buyers and a good number of them are overseas Filipino workers.
“We also noticed that 80 percent of those who placed inquiries with us are Pag-IBIG Fund members who are interested to acquire property through the government financial institutions,” she said.
Pag-IBIG Fund offers among others house and lot package with a much lower interest rates based on the following bracket, over P1 million to P1.25 million at 9.5 percent interest rate, over P1.25 million to P2 million at 10.5 percent and over P2 million to P3 million at 11.5 percent.
Maximum amortization period of 30 years for a package of P1 million carries a monthly amortization of P7,689.13, P1.25 million at P10,510, P2 million, P18,294.79 and P3 million at P29,708.
Romero said they noticed that more Pag-IBIG Fund members are interested especially with the lowering of interest rates of real estate loan with the Fund.
Meanwhile Romero said they also partner with private banks like Banco de Oro and they intend to team up with Metrobank and Union Bank.
Chula Vista Residences is developed by HLC Group which is backed by over 25 years of experience and numerous successful housing projects and real property developments in Davao City, Tagum City, Panabo City, Digos City, Butuan City, Sto. Tomas, Davao del Norte.
Like the other developers, HLC also caters to buyers from out-of-town cities and provinces within Mindanao.
She said home buyers would prefer their locations nearer to their place of work and these are also the market that they cater. Transportation cost is also a big portion of the day to day expense of the workers that is why they want to cut on travel from home to work.
As this developed she said their company is working on a low cost housing project within a 40 hectares property at the northern portion of the city in Malagamot, Panacan, Davao City.
The HLC Group is optimistic of the real property business this year that matches with the government planners’ projection that in Davao City real estate will still be the driving businesses in the economy this year. (PDB)