Sta. Lucia Land's Nivel Hills Is Projected to Earn P8 Billion in Sales
We know that properties in the Metro Cebu area have consistenly been high-value, even during the pandemic. Among the latest property trends in the post-pandemic market in Cebu is the rise in demand for upmarket residential developments.
Sta. Lucia Land's latest project, 128 Nivel Hills, falls right in the middle of this surge. Situated in prime lot along the National Highway in Lahug, Cebu City, the planned premium development is poised to become one of the most-coveted addresses in the near future.
In November, the two-tower master-planned development officially broke ground for the first tower, which will feature 576 units, 366 of which will be residential. Meanwhile, the second tower will have 613 residential units, ranging from 28-sqm. studio units to 163.9-sq.m. four-bedroom units. Two- and three-bedroom units will be available to buyers, as well. The other 210 spaces will be used for the group's condotel concept.
“Siguro pagbebentahan diyan not less than mga P7 [billion],” claimed Sta. Lucia Land President Exequiel Robles in a media briefing in Cebu City. But because of expected price increases, Robles adds that the mixed-use property development is expected to fetch more or less P8 billion in sales.
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Priced competitively for the Cebu market, the development had already sold 30 percent of its inventory of units by the second quarter of 2022. According to the group, its main base has apparently been medical professionals and overseas Filipino workers from countries like the United Kingdom, France, Italy, and Dubai. Unit prices vary from as low as P3.5 million for studio spaces to P10 million for bigger ones.
The new development should attract both investors and end-users, considering that the Cebu-Mandaue corridor is hot right now. We've seen the vertical take-up in Cebu reach 2,767 units in the first half of 2022. This is quite the figure compared to the horizonal take-up, which is only at 684 units during the same span.
Built in partnership with Diamond Hiland, Inc., the project is on track to reach its target completion in 20226. It will start turnover by 2027.