After 24 years of building a respectable name in Cebu's real estate sector, Camella is poised to strengthen its leadership in the residential property segment as it ventures into condominium development this year.
Camella, the flagship residential property development arm of publicly listed Vista Land and Landscape Inc., will start the construction of its first vertical project in Cebu, providing an initial offering of 700 to 800 condominium units, under the Vista Residences brand.
Its entry to the vertical residential segment is in parallel with the company's aggressive move to continue its expansion program in providing horizontal housing products to areas outside of Metro Cebu, said Myra Lynn R. Gilig, Camella Cebu General Manager.
On top of it’s close to 1,000 residential units now offered in the property market, Gilig said more house and lot packages under the Camella brand will be built either through expansion projects of existing subdivisions or new subdivision projects that will be launched by the company in the next few months.
In the last 25 years, the company has already invested over P6 billion in its 28 Camella gated communities spread in key areas in Metro Cebu like Mactan Island, Talamban, Guadalupe, Talisay, Carcar, and other areas.
Currently, the company owns over 300¬hectares of estate in Cebu. Part of this is still up for development to add to add to its over 7.000 house and lot portfolio that have been built in Cebu over the years.
Despite the entry of more developers in the fertile real estate business in Cebu, Camella has sustained its leadership and continues to guard its leading position in the housing sector, Gilig said.
"We want to be all around Cebu, both in horizontal and vertical residential developments," Gilig said.
Vista Land chairman Manuel Villar, in an 'earlier interview, said that the company is now focusing its attention in Cebu, and will pour in more money here to build more projects.
The company will also enter into other development projects such as BPO complex, condominium towers, and more subdivision developments, Villar said.
Villar said the company is actively looking for more properties for acquisition, adding that although the company has been here with its several projects, these are not enough to make its strong presence in Cebu. "We are beefing up our presence in Cebu. I will be coming here more often, " Villar said.
Dubbed as the country's largest homebuilder, Vista Land is recognized for its themed and masterplanned communities and its brands namely, Camella, Crown Asia, Brittany and Vista Residences, that offer quality housing across all market segments.