Even with its recent entry to Metro Manila, Innoland Development Corp. assured that it will continue to develop more projects for Cebu.
Innoland and affiliates vice president external for sales and marketing Wilson Granados made this commitment in an interview with reporters on Thursday in Filinvest City, Alabang, where the company built three corporate office towers worth P5.5 billion.
Granados said it will keep on developing commercial, residential and industrial projects in Cebu, to support the rising demand for real estate developments.
Innoland will continue to position itself as a green-oriented developer across its projects, he said.
By the third quarter of 2015, Granados disclosed they will launch a mid-market, horizontal housing project in the town of Consolacion. Last year, Innoland embarked on its first horizontal project in Talisay City, Harmonis, which sold out its 150 house-and-lot units early this year.
In its 10 years in property development in Cebu, Innoland has developed the TGU Tower, The Link, and Calyx Center in Cebu IT Park. The first two are office spaces while the third is a mixed-use development with commercial, office and residential units. It also constructed the Teradyne facility in Cebu Light Industrial Park in Lapu-Lapu City and the Harmonis subdivision in Talisay City.
The company’s real estate investments in Cebu reflect data from Philippine Statistics Authority 7, which showed the construction industry having registered the highest growth across all industry sectors in Central Visayas at 24.7 percent last year versus the 2.2 percent growth registered in 2013.
Earlier, Socioeconomic Planning Secretary Arsenio Balisacan projected that the Philippine property market is poised for “more robust” growth, supported by the country’s solid economic backdrop, stronger demand for business process outsourcing (BPO) services, heavy consumer spending, and the healthy inflow of remittances from overseas Filipino workers.
Innoland was officially registered with the Philippine Securities and Exchange Commission on August 2005, with an initial authorized capital stock of P20 million.
The company is also registered as an ecozone facilities enterprise with the Philippine Economic Zone Authority (Peza).
Published by: Sunstar Cebu